Thank you, Mr. Chair.
Thanks to each of you for appearing before us today.
The first question is on the proposal to eliminate capital gains on gifts of private company shares and real estate.
Mr. Waters, members of this committee have been dealing with Donald K. Johnson for about 12 years on the issue of eliminating capital gains tax on gifts of initially publicly listed securities and cutting it when our government started that process and reduced it. We believe that was the right thing to do. I'd appreciate your view on eliminating capital gains tax, giving an exemption for gifts of private companies and land.