Thank you, Mr. Chair.
Thanks to all of you for coming in and providing us your expert testimony.
I want to talk about retroactivity. Some of it is related to succession planning, so I'm glad that we were leaning in that direction. There's a lot of misinformation about it. Some of it is due to the government side. Minister Morneau has said these will not be retroactive, but the way I read proposed section 246.1 on CDAs, it will become retroactive. In fact, even well-known tax specialists and tax accountants have been writing and saying that if you inherit a family business you could pay tax on it, on gains that your predecessor made. Retroactive double taxation is the effect of some of the rules and proposals that have been made.
I see Mr. Kelly already pointing to Mr. Wonfor, who wants to comment on this, but I want to talk about this retroactivity and about the double and sometimes triple taxation on income already earned. If you want to talk about neutrality, it's patently unfair to double-tax someone as that's making its way intergenerationally.
Maybe we'll start with Mr. Wonfor, but I'd like to hear from Mr. Lanthier on that as well.