Joe Oliver

[Business of Supply, May 14th, 2014]

Mr. Chair, with respect to the last question, it will not cost. It will save money.

Canada has one of the strongest retirement income systems in the world. The old age security program, which includes the old age security pension and the guaranteed income supplement, is one pillar.

We are gradually increasing the age of eligibility to ensure the sustainability of the program. As I said, changes in the program will be phased-in starting only in April 2023, with full implementation by January 2029, to ensure that Canadians have sufficient advance notification to plan for retirement.

[Business of Supply, May 14th, 2014]

Mr. Chair, we have introduced this measure to ensure the long-term viability of the system, given actuarial changes and the fact that Canadians are living longer and in good health. This is a step we have taken, and other countries have taken, to maintain the viability of the system to provide for benefits to seniors going forward.

[Business of Supply, May 14th, 2014]

Mr. Chair, I understand that a party that voted against this wildly popular tax saving measure, which would provide security for Canadians in their retirement, is one the NDP would like to see capped, but that is not the decision of our government.

[Business of Supply, May 14th, 2014]

Mr. Chair, as the member opposite knows, the old age security and guaranteed income supplement go to less advantaged people. In total, the two combined provide $40 billion a year in benefits over five million beneficiaries and combined benefits of up to $15,600 per year or a little over $25,000 per year for couples.

[Business of Supply, May 14th, 2014]

Mr. Chair, this is, of course, a measure the party of the member opposite voted against.

It is an extraordinarily popular measure. I do not know whether it would be the NDP's policy to actually stop this program. It would be interesting to hear from the member opposite whether the members of the NDP believe that the tax-free savings account program should be stopped. I would like to hear his answer. Yes or no.

[Business of Supply, May 14th, 2014]

Mr. Chair, I am very proud of the tax-free savings account, which has provided an opportunity for millions of Canadians to shelter income from taxes. This is a very popular program. Over nine million Canadians are participating, it is very broad based, the numbers are increasing, and this is a very positive thing for those who believe, first and foremost, that individuals should keep their own money rather than give it to the government. Those who believe by default any money earned is the government's, of course, will not be happy with this program.

[Business of Supply, May 14th, 2014]

Mr. Chair, the next budget will contain the measures, which it does. In the meantime, we will be undergoing analysis and consulting with Canadians across the country.

[Business of Supply, May 14th, 2014]

Mr. Chair, I think the member opposite is confusing a number of issues, but the offshore tax gap generally refers to federal income taxes that are not collected because of the under-reporting of foreign source investment income by Canadian individuals. By its very nature, international tax evasion is difficult to quantify since it involves people or entities deliberately and aggressively hiding money from the authorities. Estimating income from deliberately hidden or secret offshore investments is extremely difficult. Apparently, the member opposite has information that most of us do not have.

[Business of Supply, May 14th, 2014]

Mr. Chair, the government has taken a number of initiatives to address international tax evasion and aggressive tax avoidance, and we take those matters very seriously. Since 2006, the government has introduced over 85 measures to improve the integrity of the tax system and by closing tax loopholes, strengthening tax compliance, and combatting international tax evasion our government is working to ensure that everyone pays their fair share of taxes.

[Business of Supply, May 14th, 2014]

Mr. Chair, this is the second question in a row that should be directed at the CRA. Either the member already has it or he can get that information from speaking to the CRA directly.