I have no reservations about what type of business association a person may choose for their structure. In very large businesses, you'll often have a corporate structure, but that's certainly not always the case. There are a lot of small family businesses that choose that structure.
One of the themes that came up earlier—I think maybe Mr. Fragiskatos and subsequently Peter Julian raised the issue—was around potential tax-avoidance issues. I have a concern that may or may not play out. That is, would anything in the bill prevent a circumstance where there's effectively an artificial transfer for tax reasons and not a genuine intergenerational transfer? I'm thinking of a circumstance where person X has a child and that child sets up a holding company just for the purpose of holding shares in the farming operation, when in fact that kid has no interest in taking over the family farm. The person knows this 20 years before they decide to retire from farming, so they say, “To reduce the tax burden, let's put it in the holding company. I'm going to keep working on this. Eventually, we'll sell the shares.”
Do you think there's the potential for abuse with someone transferring a small business, a farming operation or a fishing corporation, to a holding company purely to avoid the tax burden rather than to genuinely effect a transfer to their children?