Finance committee  I believe what you're talking about is whether it would be appropriate.... Clause 85 deals with an exclusion. Under the proposed rules, they would not apply for what's called an “excluded property”. I believe the suggestion put forward last evening was that investments in mortgag

Finance committee  No, Mr. Chair.

Finance committee  Would you like that now?

Finance committee  The qualifying activities in the regulations were 50%, but what I would point out to the committee is that there is a provision in the children's arts credit that does say that if amounts are deductible otherwise.... With respect to, for example, the fitness tax credit, if amount

Finance committee  I was just going to point out to the committee that this uses the same function and style as the sports tax credit that has been in place for years now.

Finance committee  Sorry: I meant the fitness tax credit.

Finance committee  Yes, Mr. Chair. Thank you. With respect to the children's arts tax credit, the question as I understood it was whether or not fees charged by a garderie with respect to relevant activities would be eligible for the credit. The response is that eligible expenditures and eligib

Finance committee  Excuse me, sir?

Finance committee  I'm sorry. Is that the clause-by-clause explanation that was provided to the committee?

Finance committee  I think your understanding is correct in the sense that the caregiver credit is not available where there is no relationship, no familial relationship at all between the parties.

Finance committee  In response to the question about the nature of the activities covered by the new children's arts tax credit, I would point out that in clause 98 of the bill, there is a provision that defines artistic, cultural, recreational, and developmental activities, and the eligible progra

Finance committee  The honourable member is correct. If a volunteer firefighter does not spend 200 hours per year performing volunteer firefighting services, which are defined within this section as responding to calls, attending training, those types of things, the individual will not be eligible

Finance committee  Thank you for the question. What the honourable member is referring to is that prior to the introduction of this volunteer firefighters tax credit, there was an exemption under subsection 81(4) of the act for honorariums of up to $1,000 per year. The effect of the exemption was

Finance committee  Certainly. The measure you're referring to is an extension of section 120.4 of the act, or what's commonly know as the kiddie tax. It is a tax to get at situations where individuals, rather than receiving income themselves, channel it to be received by a minor child, who would m

Finance committee  That's correct. The transactions that are caught by this measure are simply dispositions of shares to related corporations. So where there's a true disposition to an arm's-length party, that disposition won't be subject to the measure.