Thank you, Mr. Chambers.
Mr. Chair, I had put a motion on notice that I'd like to move at this time. I'll read it into the record.
It states:
That, with regard to the provisions of Budget 2024 and the subsequent motion passed by the House of Commons regarding changes to certain provisions regarding the administration of capital gains and the provisions related to the taxation of capital gains earned by both individuals under the Income Tax Act and corporations (both publicly traded and Canadian-controlled private corporations) including but not limited to the increase in the inclusion rate from 50% to 66 2/3's %, the Department of Finance provide the following to the House of Commons Standing Committee of Finance on or before November 1, 2024:
A detailed written 'economic impact study' on the implementation of the aforesaid changes including:
a) a breakdown of the expected impact on private sector employment including jobs related to trades and construction;
b) an estimate of the anticipated new tax revenue expected;
c) a breakdown of the effect the changes will have on Canada's GDP both gross and per capita;
d) an analysis of the impact on the equity positions of publicly traded corporations with a specific focus on the direct impact on share value;
e) an estimate of the impact on the equity position of the Canada Pension Plan;
f) an estimate of the impact on investment in SMEs, start-ups and R&D including impact on scaling;
g) an analysis as to whether these changes will be a disincentive for the construction of purpose-built rental units and multi-unit housing projects.
I don't expect this motion will be particularly controversial, but it will certainly aid this committee in completing its study.