Proposed Amendments to Income Tax Act—Bill C-377—Unions—Disclosure of InformationPublished on 29 June 2015 Hansard and Statements by Senator Jim Munson
Hon. Jim Munson:
Thank you, Your Honour. My question, obviously, is for the Leader of the Government in the Senate and concerns that draconian anti-privacy bill, Bill C-377.
The Canadian Life and Health Insurance Association has said that all of the disclosure obligations will apply to mutual funds, including RRSPs and TFSAs. If just one union member buys one unit of a mutual fund, the whole mutual fund will become “a labour trust” because of the legislation as drafted and — in their words — “with all the reporting and disclosure obligations then applying to all individuals who purchase units of that mutual fund, regardless of any personal labour organization affiliation.”
So, Mr. Leader, this bill will require the names and personal information of millions of Canadians to be posted on the Internet. Does your government believe this is a good idea?