Minister, last fall you announced new tax penalties on small businesses that have passive income of over $50,000 a year.
When you made that announcement, you reassured those businesses that their existing savings and investment income from those savings would be grandfathered and therefore not affected by the new rules. Let me quote: “I want to reassure everyone that our proposed changes would only apply on a go-forward basis—not to existing savings, nor to investment income from those savings.”
I have a yes or no question. Did you keep your promise to grandfather those pre-existing savings and income from those savings of small businesses in your tax changes?