Thank you.
I'd like to ask all of our panellists a question. On Tuesday we had representatives from the Department of Finance who came forward to talk about the assistance from government for tax incentives for charitable donations. The testimony indicated the following: that for cash donations, governments pick up the tab through tax incentives, about 46%, but when we're talking about exemptions from capital gains tax, the rate of assistance on donations from listed securities is typically 60% and can be as high as 69%. So there is a very clear differentiation within the tax system of charitable donations cash, such as the donation from the widow who lives next door to me who gives a small amount because she's low-income, as compared to donations of listed securities.
I'm wondering if you can give us your opinions on that structure and how you feel about it: whether you feel that it's an appropriate structure, whether you feel that it's out of equilibrium in some way, and whether changes would need to be brought to how that differentiated treatment is in place.