The extension of five years to ten years was certainly welcome. What it means is we're still taxed in those ten years. So my RRSP is taxed this year for any income after March 31, I believe, and on through the end of this year. The transition period is extended, but it still has penalties all along. The main difficulty I have with those transition periods is that it just doesn't go far enough for what I consider to be corporations and shareholders who have not taken advantage of any abuse.
On November 2nd, 2011. See this statement in context.