Finance committee  Wow! I think I understand Mr. Tremblay's concern, but without trying to put words in his mouth, I'll try to at least summarize it from what I understand. The concern is about what advice is solicitor-client privilege, and thus gets the statutory exemption from the reporting rul

Finance committee  I'm not sure what to say. I love the legal profession; I certainly respect privilege. Frankly, the Supreme Court has said it's a constitutional right. So I get it. However, do I think that lawyers should be able to simply wave their white flags, or...white flag is the wrong wor

Finance committee  I think it's a contributing factor. As my panel members have already agreed, it's important to get certainty. This goes a long way to getting that certainty and to keeping business moving.

Finance committee  I'll jump in. Obviously simplification is an admirable goal, and it's good media. Let's simplify the tax...the media often says “code”, but it's really the “act”. I think it comes at a price, though, and it comes at a price of fairness and equity. Is there room for simplicity? I

Finance committee  I can't recall the blog you're referring to exactly, but in general I would suggest that, yes, there are probably significant under-resources.... Let's try that again. You just can't staff everything to catch all the abuse. I don't know if I answered your question.

Finance committee  No. Bill C-48 doesn't address that whatsoever, and I wouldn't expect it to. Can I just address one question you had? Proposed subsection 237.3(17), which is what Mr. Tremblay is talking about, does carve out solicitor-client privilege. I'm a little puzzled as to where the issue

Finance committee  Yes, and I'll give you a live example from about five years ago that comes to the top of my mind. I'll pick my favourite topic again, the restricted covenant proposals. We had a transaction whereby a client was selling his business to an American company for I think it was in t

Finance committee  I'm thinking of everything. I think if mischief is perceived to be going on, one way of fixing that problem with respect to drafting legislation is to take a shotgun approach and try to kill everything that's perceived to be the abuse now and into the future.

Finance committee  I was born in Prince Albert, actually.

Finance committee  Do you want me to answer in Fort McMurray-speak?

Finance committee  For the benefit of the rest, I grew up in Fort McMurray, so the honourable member knows my stomping ground. But overly simplified, yes, I would agree.

Finance committee  Generally.

Finance committee  That's correct, yes.

Finance committee  I would suggest, with respect to the non-resident trust rules, given the fact that they were very controversial at the time they were first proposed, and the numerous studies and consultations and presentations that were done by interested parties—and then, of course, with the mi

Finance committee  If what you're suggesting is that we're frustrated that it's taken this long to get through, then I would agree.