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June 4th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  Sometime in April, I don't have a precise date.

June 4th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  The family tax cut is designed as notional income splitting, if you will. Both spouses have to reallocate their income then split the taxable income. Some of the credits may have been transferred between members before that calculation, like the age credit, the pension income cre

June 4th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  That's an excellent question that would likely be very difficult to answer. That said, most economists agree that decreasing taxes imposed on savings is generally a positive measure.

June 4th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  As I said, I think this loophole has been in existence since it has been possible to delay the reception of CPP.

June 4th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  I don't have the exact number, but we know a very small fraction of individuals seem to be using that, based on the number of individuals asking to delay their reception of CPP.

June 4th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  As I have already told the committee, the department did not study the impact of TFSAs on Canadians' savings rate. That said, a vehicle like the TFSA offers a variety of potential economic benefits. For instance, it reduces a number of imbalances by allowing for a better econom

June 4th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  Roughly speaking, the effect on provinces would be roughly half of the impact at the federal level.

June 4th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  We'll have to look at what we have and what we can disclose under normal circumstances.

June 4th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  Yes. What we have on the provincial basis is the effect on the tax base, so that we have.

June 4th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  That can be provided. Yes.

June 4th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  I don't have this information now in front of me.

June 4th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  About 15% of our cost is associated with the OAS-GIS program.

June 4th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  We are aware of these.

June 4th, 2015Committee meeting

Miodrag Jovanovic

Finance committee  We don't think it is associated specifically to the TFSA. It's associated with the fact that individuals can delay reception of those benefits.

June 4th, 2015Committee meeting

Miodrag Jovanovic