The House of Commons has had a third reading and passed C-470 on March 8, 2011.  On March 9, 2011 it received first reading in the Senate and there will be second reading on March 21, 2011.  If this bill passes the Senate, then Canadian registered charities will have to disclose the names of executives and employees whose compensation is over $100,000 per year, and not just the top 5 executives and employees, as of the 2012 financial year.

Here is from the Hansard transcript:

Private Members’ Business
[Private Members’ Business]
*  *  *


  The House proceeded to the consideration of Bill C-470, An Act to amend the Income Tax Act (disclosure of compensation — registered charities), as reported (with amendment) from the committee.

The Speaker: 
  There being no motions at report stage, the House will now proceed without debate to the putting of the question on the motion to concur in the bill at report stage.

  [Table of Contents]
Hon. Albina Guarnieri (Mississauga East—Cooksville, Lib.) 
    moved that the bill be concurred in at report stage.

  (Motion agreed to)

  [Table of Contents]
The Speaker: 
  When shall the bill be read the third time? By leave, now?

  Some hon. members: Agreed.


  [Table of Contents]
Hon. Albina Guarnieri
    moved that the bill, be read the third time and passed.

    (Motion agreed to, bill read the third time and passed)


Hardly the sort of discussion one would hope from the house especially since some of the amendments relating to disclosure of all compensation over 100,000, not just top 5 people, was never consulted on with the sector. 

The Summary now reads “SUMMARY – This enactment amends the Income Tax Act to require that every registered charity disclose any compensation it pays to any single executive or employee exceeding $100,000.”

Here is the link to the bill at amended and as passed

Here is a PDF copy of Bill C-470 as passed by House March 8, 2011

From the Senate’s website on March 9, 2011:
“Income Tax Act
Bill to Amend—First Reading
The Hon. the Speaker informed the Senate that a message had been received from the House of Commons with Bill C-470, An Act to amend the Income Tax Act (disclosure of compensation — registered charities).

(Bill read first time.)

The Hon. the Speaker: Honourable senators, when shall this bill be read the second time?

(On motion of Senator Tardif, bill placed on the Orders of the Day for second reading two days hence.)”