As I read L-18, it deals with the liability of SIFT trusts for an additional 10% distribution. Then, in addition to the 10% distribution tax, there would be a penalty under the part equal to that distribution tax, and I gather the 10% there is what's being changed from the other provision.
I would like to pose a question, through the chair, to Mr. McCallum. Under the proposals in the bill, the tax that's imposed at the trust level would be creditable through the dividend tax credit mechanism to the beneficiary on the distribution. I'm wondering, are there any amendments in here to fix it so that instead of getting the dividend tax credit that effectively recognizes 31 points of tax, it's been changed to effectively recognize 10 points of tax?