An example would be these accounts under $50,000.
Again, you start from the principle that it is legitimate for the two states, Canada and the U.S., to share information to avoid tax evasion. In order for Canada to obtain information from the United States, we have to provide some information to the United States in reciprocity.
The purpose of the whole scheme is to ensure that the tax regimes of both Canada and the U.S. are applied properly, yet the arrangement provides for certain exceptions. You've heard tax officials refer to some of them having to do with TFSAs and so on and so forth. Even though the rule is exchange of information for tax purposes, the arrangement provides for certain exemptions, including this question of whether or not accounts under $50,000 should be reported.
The rules should be clear. What happens to records under $50,000? If the rule is that they should not be reported, then that would be an example of information that theoretically would be relevant to a tax assessment and that should not be and would not be necessary to be transferred, because the arrangement so provides.