Finance committee  Do you mean if they held on to the shares?

Finance committee  That's true.

Finance committee  The tax expenditure report provides an estimate of the tax relief provided by the charitable donations tax credit in respect of donations of publicly listed securities. As well, it tries to break it down between the charitable donations tax credit and the reduced inclusion rate for capital gains.

Finance committee  Absolutely.

Finance committee  We have some estimates that we produced in the annual tax expenditure report. We have figures on the reduced inclusion rate for capital gains, for example, on donations of publicly listed securities. The estimate is that the reduced inclusion rate provided a tax benefit of $34 million in 2011.

Finance committee  Thank you, Mr. Chair. My name is Sean Keenan. I'm the director of the personal income tax division of the tax policy branch in the Department of Finance. With me today is Mr. Blaine Langdon, who is the acting chief of the charities section of the personal income tax division.