Yes. That's correct.
I would like to point out that on the very right, where it says “2007 draft legislation”, this is what was originally proposed, and then got rolled back. These were the changes proposed to section 84(1) that the tax community was very concerned with. We said it was—for lack of a better word—killing the ability to transfer a business within a family.
We applaud the government for stepping back from that, and taking the time to do it right.