Finance committee  I think the response is essentially the one I've already indicated. There's some question as to how the benefit of the mineral exploration tax credit and the flow-through is divided up between the corporations that actually engage in the exploration and the shareholders who invest in those corporations.

Finance committee  Certainly, I think you're correct that some proponents, and there are strong proponents of the mineral exploration tax credit, favour extending it for further years. I think it has always been analyzed in a particular context. While the proponents are certainly in favour of the extension and of making it permanent or for multiple years, generally it is one of several factors that go into the exploration decision.

Finance committee  Currently under the Income Tax Act, where a person has not yet attained the age of majority the plan holder can be the parent of that individual. Then, when an individual attains majority.... In the normal course when they have contractual competences, it would be the individual who holds the RDSP themselves.

Finance committee  The clearest way to do that is to say that your salary after tax is a certain amount. The system we had before the budget amendment said, “Your income is exempt from tax. This is your after-tax income”. I think there's been an explicit policy choice to move away from that in order to put the Governor General's salary on the same footing as others.

Finance committee  It depends on how the chair would like to proceed. I could either do that or provide a brief overview of all the measures in part 1. That would probably take about two or three minutes.

Finance committee  Thank you. Part 1 contains the income tax measures in Bill C-38. What I would propose to do is to essentially follow the summary at the start of Bill C-38, which provides a list of all the measures. The first measure that is listed is to expand the list of medical expenses eligible for the medical expense tax credit to include blood coagulation monitors and associated peripherals.

Finance committee  No trouble. The measure I was discussing was the eligible dividend designation. When dividends are paid to an individual from a corporation, they may be eligible for a dividend tax credit. There are two types of dividend tax credits—enhanced dividend tax credit and a regular dividend tax credit.