An Act to amend the Income Tax Act and the Canada Student Financial Assistance Act

Bill C-255 in 44-1 was a Liberal Private Member's Bill amending the Income Tax Act (R.S.C. 1985, c. 1, 5th Supp.) and the Canada Student Financial Assistance Act (R.S.C. 1985, c. S-23) to provide federal tax-credit relief for student-loan interest payments. Brought before the Liberal government's 2023 federal budget (Bill C-47, BIA 2023, S.C. 2023, c. 26, sections 196 to 199) set Canada Student Loan interest permanently to zero effective April 1, 2023, the bill aimed to provide a refundable federal tax credit for federal-and-provincial student-loan-interest payments. After zero-interest came into force, the bill's substance was effectively delivered. Did not pass second reading on its own.