Evidence of meeting #4 for Finance in the 40th Parliament, 2nd Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was advertising.
A recording is available from Parliament.
5:05 p.m.
NDP
Peter Julian NDP Burnaby—New Westminster, BC
--that have been forced out of softwood communities, there is a lost job that results.
Would that be a correct calculation?
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Chief Financial Officer and Assistant Commissioner, Finance and Administration Branch, Canada Revenue Agency
Beyond telling you what we collected and what we paid out to the provinces, I'm afraid the other information you're asking for is beyond my ability to provide.
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NDP
5:05 p.m.
Chief Financial Officer and Assistant Commissioner, Finance and Administration Branch, Canada Revenue Agency
Absolutely.
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Conservative
The Chair Conservative James Rajotte
Thank you very much. We look forward to that information.
Thank you, Mr. Julian.
We'll go to Mr. McKay.
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Liberal
John McKay Liberal Scarborough—Guildwood, ON
In your supplements here you're talking about $19.5 million for setting up your computer program to keep track of the tax-free savings accounts. Is that a one-time expenditure?
5:05 p.m.
Chief Financial Officer and Assistant Commissioner, Finance and Administration Branch, Canada Revenue Agency
For a project like that it would be. Certainly the build cost of the system will be one time. There may be other additional costs, but certainly that large upfront--
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Liberal
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Chief Financial Officer and Assistant Commissioner, Finance and Administration Branch, Canada Revenue Agency
It's $6 million this year.
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Liberal
John McKay Liberal Scarborough—Guildwood, ON
It will cost $6 million, so we're at $25 million.
Are there other costs?
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Chief Financial Officer and Assistant Commissioner, Finance and Administration Branch, Canada Revenue Agency
I'm sorry, I'm referring to the $6 million in our budget. I think you may have been referring to an advertisement program that--
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Chief Financial Officer and Assistant Commissioner, Finance and Administration Branch, Canada Revenue Agency
Unfortunately we can't comment on that one.
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Liberal
John McKay Liberal Scarborough—Guildwood, ON
You don't really know, but $6 million sounds reasonable.
What are the other costs?
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Chief Financial Officer and Assistant Commissioner, Finance and Administration Branch, Canada Revenue Agency
There will be costs around staff. There may be costs related to answering inquiries.
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Liberal
John McKay Liberal Scarborough—Guildwood, ON
Is it reasonable to think that $30 million a year is what it's going to cost to administer this program?
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Chief Financial Officer and Assistant Commissioner, Finance and Administration Branch, Canada Revenue Agency
We'll be in a better position next year to answer that when we talk about the amount that goes into the estimates for 2009-10.
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Liberal
John McKay Liberal Scarborough—Guildwood, ON
Would it be wild and crazy to say $30 million seems to be in order?
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Chief Financial Officer and Assistant Commissioner, Finance and Administration Branch, Canada Revenue Agency
I wouldn't want to speculate.
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Commissioner and Chief Executive Officer, Canada Revenue Agency
At this point, sir, the $19.5 million is what we are expecting.
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Liberal
John McKay Liberal Scarborough—Guildwood, ON
What's the amount of the foregone revenue by the Government of Canada to fund this program?
5:05 p.m.
Commissioner and Chief Executive Officer, Canada Revenue Agency
That question would have been a consideration when the tax policy was set and would best be directed to the Department of Finance.
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Liberal
John McKay Liberal Scarborough—Guildwood, ON
Are you telling me that Revenue Canada doesn't have a calculation for foregone revenue?