Thank you, Mr. Chairman.
Thank you for being with us.
First, let me address Mr. Tinkler, because I am glad that we have a CMA representative with us to talk about capital cost allowance, among other things. It is being debated widely; some of your colleagues want certain amendments. I just want to be sure that my understanding is correct.
In my mind, capital cost allowance has to do with the useful life of some given material. I think that this is why, for example, you want to have a higher depreciation rate for ITC material, that currently has a shorter useful life.
When I see the oil industry enjoying 100% capital cost allowance rates, I infer that the government believes that certain asset has only one year of useful life. This is my understanding. Theoretically, am I right? Within the whole Canadian fiscal system, are there other industries and types of equipment that enjoy a 100% depreciation rate?