Finance committee  We've tried to define an individual pension plan. Quite clearly, if you defined an individual pension plan as being a plan for one individual, well, then, you would have plans immediately for two individuals, and that would include the particular individual and perhaps a spouse o

Finance committee  That's correct.

Finance committee  If you consider that you have two individuals side by side, and one has saved, say, a million dollars in their RRSP, and the other has saved a million dollars in their IPP, both of them will have to draw down their pension entitlements at the same rate. We're not imposing anythin

Finance committee  Thank you. Those clauses deal with measures that were implemented or proposed in the budget concerning individual pension plans. As the name implies, individual pension plans are a unique kind of pension plan designed to provide pension benefits to a single person or generally a

Finance committee  I think this is probably at least the third time we've had a question about the refundable tax credit, and I think I would refer back to the comments of the chair that our responses here are really about how the legislation and the proposals in the budget are put forth. Now, in

Finance committee  Well, I think I'd first like to answer the question about the firefighters tax credit. The important thing to understand about the firefighters tax credit is that it is an alternative to the existing tax exemption, and the policy behind it had not so much to do with this other fu

Finance committee  These measures were designed consistent with the other non-refundable personal income tax credits in the act to be non-refundable. It would be a departure from the general tax treatment of the various personal income tax measures. For example, the medical expense tax credit is no

Finance committee  The mineral exploration tax credit was an extension of an existing tax credit. So in that context it was looked at more in terms of whether the existing provisions were working and if it was reasonable to extend them for one more year at this time of recovery. The government dete

Finance committee  On the second part of your question, we've already responded to that. We don't have that number. The credits are designed to be non-refundable tax credits in order to relieve the tax burden on the amounts expended for the particular activities. In terms of the cost of those mea

Finance committee  These were designed to be non-refundable tax credits that would reduce the tax burden on the amounts spent for these activities. If there's no tax burden on the amount spent--you don't have the tax payable to absorb the credit--making them refundable would not serve the purpose o

Finance committee  We are here in essence to respond to part 1, and I gather we're going through the bill part by part. That particular thing is not in part 1.

Finance committee  Good afternoon. My name is Gérard Lalonde. I'm the director of the tax legislation division at the Department of Finance. Some of you will recognize me as having been to this committee many times before, and I welcome the opportunity to come back. I have with me Mr. Ted Cook, wh

Finance committee  As we explained at the all-party briefing on this measure, these tax credits are intended to ensure that the tax burden on amounts spent for the various activities is reduced. If you have no tax burden, then you don't need the tax reduction. On the cost of changing the proposals

Finance committee  There is not somebody in the crowd right now who can answer that. The upshot is that we haven't calculated those numbers because the proposals, as put forth in the budget, were intended to be non-refundable tax credits.

International Trade committee  Thank you very much for your question.