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Finance committee  Again, I'm sorry, I can't comment.

May 26th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  I can't comment on that.

May 26th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  I really cannot give you an exact number. I can say, however, that briefing was constantly being done for a certain period, as is done for all the measures that are proposed.

May 26th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  The effect on workforce participation was considered when the credit was being designed. For example, the credit limit of $2,000 is simply federal. It may be claimed by the spouse whose income is lower. In our view, the design of the credit means a minimal effect on the decision to be part of the workforce.

May 26th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  As I mentioned, the way in which the credit was designed minimizes the effect very significantly. For example, for a family with a single income of $95,000, the other spouse may enter the workforce and earn $20,000 or $25,000. If there are day care costs as a result, that family could continue to receive the maximum credit of $2,000.

May 26th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  There are 19.5 million families who submit a tax return. The credit will benefit about 1.7 million families with children, which is about the 15% you alluded to. Of those 19.5 million families, about 40% are single, are by themselves. So the notion of “family” has to be understood when these statistics are being used.

May 26th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  It was $2 billion.

May 26th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  The cost reported for 2014-15 is $2.4 billion. That includes five quarters, because of accounting. On a yearly basis, for 2015-16 it's about $1.9 billion.

May 26th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  It's in this budget document. We can check, but I think it was $2 billion.

May 26th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  The family tax cut was part of a broader package for families.

May 26th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  Typically when we provide briefings to the minister and advice to the minister on any measure we look at, we provide as part of any other calculations income distribution, and that is part of the advice to the minister and it's up to the government to decide what to release from there.

May 26th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  I can't respond to that, because, as I said, this is advice that has been provided to a minister. It hasn't been made public.

May 26th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  What we've said is that the vast majority, at least two-thirds, of beneficiaries would be low- and middle-income families.

May 26th, 2015Committee meeting

Miodrag Jovanovic

May 26th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  For the RRIF measure?

May 26th, 2015Committee meeting

Miodrag Jovanovic