In terms of how this relates to the budget 2010 measure, the actual main measure, if you will, with respect to budget 2010 and taxable Canadian property, has actually been implemented as part of one of the budget implementation acts. With respect to what's in this bill, it's sort of a tweak of an issue that has been identified to us.
With respect to budget 2010, in order to reduce reporting requirements for non-residents engaging in transactions that don't result in any Canadian tax, what we did was amend the definition of taxable Canadian property to accord with, essentially, our rights to tax under our tax treaties. As a general matter, if there's a tax treaty, if it assigns or denies Canada's right to tax, regardless of what the act says, you go with the treaty.
What was happening was people were having obligations to file paperwork with the CRA, even though there would be no tax. Our way of dealing with that was to amend the definition of taxable Canadian property.
The specific amendment in this bill simply deals with the situation where it's kind of whether or not we have a look-through rule. You have a corporation, you're trying to decide whether its got taxable Canadian property, well, if it owns another corporation, do you look through to the underlying property or do you just look at whether that corporation's shares are taxable Canadian property?