Certain information is collected by the CRA. Under domestic law, the banks have to send information, say on interest income, and they use that to calculate a Canadian taxpayer's tax liability, but the IGA changes that regime, as I mentioned in my opening remarks. Now, a foreign government will access—as Ms. Swanson also addressed—the total quantum of an account, as well as account withdrawals and deposits. Nowhere in Canadian law do we have that information shared with our government, so this is a big change.
On May 13th, 2014. See this statement in context.