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ARTICLE · 06 JULY 2015

Federal Government Passes Union Spending Bill, Bill C-377

The federal government has enacted a new tax law that requires unions to disclose financial information (Bill C-377, An Act to Amend the Income Tax Act, passed on June 30, 2015).

CanadaEmployment and HR

The federal government has enacted a new tax law that requires unions to disclose financial information (Bill C-377, An Act to Amend the Income Tax Act, passed on June 30, 2015). The bill had been slowly progressing for four years. It was the first private member's bill to proceed to the Senate this session, and its passing was the final legislative act of the 41st Parliament.

An Act to Amend the Income Tax Act brings into effect provisions that require unions to disclose, among other things:

  • details of officers or executives who earn over $100,000;
  • financial statements including details of spending, borrowing and accounts receivable;
  • details on all contracts over $5,000, including those with third party vendors; and

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