Evidence of meeting #55 for Finance in the 39th Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was amendment.
A recording is available from Parliament.
10:20 a.m.
NDP
Judy Wasylycia-Leis NDP Winnipeg North, MB
When do people need to have access to the precise information and regulations in order to calculate for next year's tax year?
10:25 a.m.
Director, Tax Legislation Division, Tax Policy Branch, Department of Finance
For the most part, the calculations are set out in the budget bill. It's more a question of what activities will qualify and what activities won't. Clearly, there are some core activities that one could reasonably assume, regardless of when the guidance comes out, will qualify. But I think certainly there's a desire to get the details out before the end of the year.
10:25 a.m.
NDP
Judy Wasylycia-Leis NDP Winnipeg North, MB
For the deadlines set out, when are the regulations supposed to be ready?
10:25 a.m.
Director, Tax Legislation Division, Tax Policy Branch, Department of Finance
The regulations will be effective, when passed, for the 2007 and subsequent taxation years.
10:25 a.m.
NDP
10:25 a.m.
Director, Tax Legislation Division, Tax Policy Branch, Department of Finance
I didn't say when they would be ready. I said when they are passed they will be effective for the 2007 and subsequent taxation years.
10:25 a.m.
NDP
Judy Wasylycia-Leis NDP Winnipeg North, MB
Do the regulations go into the Canada Gazette for comment?
10:25 a.m.
Director, Tax Legislation Division, Tax Policy Branch, Department of Finance
Yes, they do.
10:25 a.m.
Director, Tax Legislation Division, Tax Policy Branch, Department of Finance
It's a minimum of 30 days for part I. After that, we receive comments, if any, and it can be turned around and included in part II of the Canada Gazette at that point.
10:25 a.m.
NDP
Judy Wasylycia-Leis NDP Winnipeg North, MB
It would seem, based on all the different tax credits and changes in this bill, that there are a lot of regulations required on a number of different fronts.
10:25 a.m.
Director, Tax Legislation Division, Tax Policy Branch, Department of Finance
We have a number of regulations to prepare, yes.
10:25 a.m.
NDP
Judy Wasylycia-Leis NDP Winnipeg North, MB
Are you at all worried about getting all of that work done in the timelines set out?
10:25 a.m.
Director, Tax Legislation Division, Tax Policy Branch, Department of Finance
We are responsible in the department for preparing draft regulations for approval by the minister. We're all working very hard on getting that done, as well as the other legislative initiatives of the government.
10:25 a.m.
NDP
Judy Wasylycia-Leis NDP Winnipeg North, MB
Right. So when people come to us and ask us for information about tools for tradespeople, transit passes, fitness credit, etc., when can we say they can expect to access the final information they need for calculating their income tax?
10:25 a.m.
Director, Tax Legislation Division, Tax Policy Branch, Department of Finance
Well, in the context of the fitness, as I've indicated, the minister is aware of the issue and wants to get the regulations out as soon as possible. With respect to the other credits that you've mentioned, they're in this bill. So when the bill is passed, they'll know.
10:25 a.m.
NDP
Judy Wasylycia-Leis NDP Winnipeg North, MB
Do any of the other changes in the bill require regulations?
10:25 a.m.
Director, Tax Legislation Division, Tax Policy Branch, Department of Finance
There are a number of changes in the bill that require regulations. I don't have them at the tip of my fingers right now.
10:25 a.m.
NDP
Judy Wasylycia-Leis NDP Winnipeg North, MB
The tools for tradespeople don't, the transit passes don't?
10:25 a.m.
Director, Tax Legislation Division, Tax Policy Branch, Department of Finance
No.
10:25 a.m.
Conservative
Mike Wallace Conservative Burlington, ON
Yes, very quickly.
Since I'm new and I know Mr. McKay's been here for a while, he was indicating that there's been a change in the way things have happened in terms of overheads for CRA. For any changes in previous budgets that required some minor credits or not credits that had to be administered by CRA, was there a dollar figure attached to those in terms of what the changes might be, or did they consider it part of work?
10:25 a.m.
Director, Tax Legislation Division, Tax Policy Branch, Department of Finance
The CRA annually, as does every other department, makes a submission to Treasury Board indicating the funds they need to do their work. It's independent of the budget and there's no direct connection between the budget measures and the request by the CRA. There may or may not be a reference in the CRA--
10:25 a.m.
Conservative
Mike Wallace Conservative Burlington, ON
But there's been no change to the process as between this government and the previous government on these kinds of things, has there?
10:25 a.m.
Director, Tax Legislation Division, Tax Policy Branch, Department of Finance
No.
