Thank you, Mr. Chair.
Thank you to the witnesses for being with us today and providing us with these explanations.
I always say that, in Canada, ignorance of the law is no excuse. All Canadians are expected to understand the Income Tax Act so that they can respect it. For that reason, I think that, with each opportunity, we should strive to simplify it, rather than make it more complicated.
That said, I am mainly interested in clause 16. I'm referring essentially to the department's explanatory notes. The provision deals with pension income splitting and makes changes to the retirement income security benefit payable under the Canadian Forces Members and Veterans Re-establishment and Compensation Act.
Could you explain the changes in greater detail? If I understand correctly, the provisions limit the ability to split income. Is that correct?