Finance Committee on Dec. 5th, 2006

[Massimo Pacetti, Liberal, Saint-Léonard—Saint-Michel, QC]

No, I think he was interrupting.

[Dean Del Mastro, Conservative, Peterborough, ON]

No, he's doesn't have a point.

[Mike Wallace, Conservative, Burlington, ON]

No, I withdraw it. Let's vote.

[The Chair, Conservative, Brian Pallister]

All right.

Mr. McKay.

[John McKay, Liberal, Scarborough—Guildwood, ON]

Actually, if we're just dealing with that issue, all I would do is support my colleague.

[The Chair, Conservative, Brian Pallister]

That's what we are doing.

[John McKay, Liberal, Scarborough—Guildwood, ON]

But there is another point I want to make further on.

[The Chair, Conservative, Brian Pallister]

Is there? Okay, but not on this specific amendment, Mr. McKay?

[John McKay, Liberal, Scarborough—Guildwood, ON]

Not on this specific one.

[The Chair, Conservative, Brian Pallister]

Okay.

On the amendment, you're all ready for the vote then, yes?

(Amendment negatived)

(Clauses 21 and 22 agreed to on division)

[The Chair, Conservative, Brian Pallister]

Mr. McKay, I'm sorry, but your question was pertaining to which clause?

[John McKay, Liberal, Scarborough—Guildwood, ON]

It's on page 72, the post-secondary textbook credit. I just wanted the official to march me through this.

[The Chair, Conservative, Brian Pallister]

Which clause, Mr. McKay?

[John McKay, Liberal, Scarborough—Guildwood, ON]

It's proposed subsection 118.6(2.1), which refers to A and B and “A x B”.

[The Chair, Conservative, Brian Pallister]

Okay, good.

We have an amendment proposed on that from the Liberal Party.

I'll just verify, first, have we carried clause 22, or did I interrupt the proceedings to make sure Mr. McKay didn't have a question on that? Do you recall?

[A voice]

Clause 22 carried.

[The Chair, Conservative, Brian Pallister]

Clause 22 was carried, okay.

Mr. McKay, we do have Liberal amendment 4.

Mr. Pacetti—

[John McKay, Liberal, Scarborough—Guildwood, ON]

Let him speak to the amendment first and then I'll—

[The Chair, Conservative, Brian Pallister]

And then your question may pertain to that, I believe?

[John McKay, Liberal, Scarborough—Guildwood, ON]

Yes.

[The Chair, Conservative, Brian Pallister]

Mr. Pacetti, would you like to speak to Liberal amendment 4?

[Massimo Pacetti, Liberal, Saint-Léonard—Saint-Michel, QC]

Yes, it's straightforward. I think the amount in the original bill was $100. All we're asking is to change it to $200. It's based on a monthly credit. Most students go to school full-time for a maximum, I would imagine, of 10 months. So on the original amount, it would be 10 months times $100, which would be $1,000 at a 15% tax rate, therefore only giving students $150. And that would obviously only give them the $150 the year after they'd spent the money, and not necessarily in the month they incurred the expense. So all I'm trying to do here is to make this deduction, which is actually a credit, useful by doubling the amount from $100 to $200 so that the—

[The Chair, Conservative, Brian Pallister]

Mr. Pacetti, it's $65 in the bill now.

[Massimo Pacetti, Liberal, Saint-Léonard—Saint-Michel, QC]

No, $65 is for part-time students.

Sorry, it's $65, so it's even less. We're trying to make it so that students get at least $300 or $400 of actual money in their pocket after all the money they—

[The Chair, Conservative, Brian Pallister]

So you're taking it from $65 to $200 in your amendment?