John McKay at the Finance Committee

On December 5th, 2006. See this statement in context.

December 5th, 2006 / 10:10 a.m.

Liberal

John McKay Liberal Scarborough—Guildwood, ON

I'm on page 8, proposed subsection 5(1.2), to which this may have only tangential relevance, but I would like to get an answer to the question.

Am I correct in assuming that on December 31, those who converted from a corporation to a trust during the taxation year 2006 will have a deemed disposition and a taxable consequence?

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