Evidence of meeting #51 for Finance in the 43rd Parliament, 2nd Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was agreed.
A video is available from Parliament.
Liberal
The Chair Liberal Wayne Easter
Shall clause 77 carry on division?
(Clause 77 agreed to on division)
(On clause 78)
Director General, Sales Tax Division, Tax Policy Branch, Department of Finance
Clause 78, again, is a consequential amendment to the amendment to the Income Tax Act, but in this case it's the rules under the Greenhouse Gas Pollution Pricing Act, and just, by the way, part 1 of that act, which is the fuel charge.
Liberal
The Chair Liberal Wayne Easter
Seeing no questions on that, shall clause 78 carry on division?
(Clause 78 agreed to on division)
(On clause 79)
Director General, Sales Tax Division, Tax Policy Branch, Department of Finance
Clause 79 is consequential to clause 78, which is consequential to the income tax amendment, again in respect of the electronic delivery of requests for information to banks and credit unions.
Director General, Sales Tax Division, Tax Policy Branch, Department of Finance
I think we are at clause 79.
Liberal
Director General, Sales Tax Division, Tax Policy Branch, Department of Finance
I just said it was consequential to clause 78.
Liberal
The Chair Liberal Wayne Easter
Okay. Shall clause 79 carry?
(Clause 79 agreed to on division)
(On clause 80)
Director General, Sales Tax Division, Tax Policy Branch, Department of Finance
On clause 80, it's the same thing. It's consequential to the income tax amendment, and this is the rule that explains how CRA will prove that the electronic request was sent to the particular bank or credit union.
Conservative
Ed Fast Conservative Abbotsford, BC
It's on division.
Mr. Chair, I would add that this is probably the most consequential group of clauses we've ever debated.
Liberal
The Chair Liberal Wayne Easter
All right. Shall clause 80 carry on division?
(Clause 80 agreed to on division)
(On clause 81)
Director General, Sales Tax Division, Tax Policy Branch, Department of Finance
I hope Mr. McGowan didn't go too far, because these are income tax regulations, so it would be for him to explain this. I'm not sure if he left. Clauses 81 to 99 are actually on income tax.
Director General, Tax Legislation Division, Tax Policy Branch, Department of Finance
That's right.
Director General, Tax Legislation Division, Tax Policy Branch, Department of Finance
No. I would be happy to take up the discussion.
Liberal
The Chair Liberal Wayne Easter
I have the bill up on my screen, so I can't see you. Sorry, Trevor.
Go ahead on clause 81.
Director General, Tax Legislation Division, Tax Policy Branch, Department of Finance
Clause 81 amends the income tax regulations. This is a consequential amendment relating to the advanced life deferred annuity measure, and it amends a definition of remuneration consequential on amounts being included in income in respect of the ALDAs in a paragraph of the act. It's a consequential amendment relating to advanced life deferred annuities.
Liberal
The Chair Liberal Wayne Easter
I don't see any hands, Trevor.
Shall clause 81 carry on division?
(Clause 81 agreed to on division)
(On clause 82)
Director General, Tax Legislation Division, Tax Policy Branch, Department of Finance
Clause 82 is a consequential amendment following the increase to the basic personal amount, which is now split into two parts, the basic personal amount plus the additional amount. This is to add a reference to the new additional amount and the basic personal amount changes.
Liberal
The Chair Liberal Wayne Easter
I see no further questions.
(Clause 82 agreed to on division)
(On clause 83)
Director General, Tax Legislation Division, Tax Policy Branch, Department of Finance
Clause 83 is consequential changes for the advanced life deferred annuity measures relating to disclosure requirements in respect of an ALDA.