On that $50,000, hold your thought there.
This committee, in its last pre-budget recommendations, recommendation 76, said that the government should “undertake a comprehensive tax review with the objective of simplifying the Income Tax Act.” Obviously, the government didn't do that. It didn't listen to the last pre-budget submission.
I am a backbencher on the opposition side, so I'm very much used to not being listened to when it comes to the government. That's okay. It's part of the job.
You said that the government was creating a two-tier system by grandfathering previous investments versus new ones. Can you explain that a bit more? What will actually be happening? How would one keep track of grandfathered investments?