Thank you, Mr. Chair.
Keeping in line with some of the principles in other industries, the effect of this amendment, we believe, would be that it would apply the luxury tax on the net, or the difference, between a vessel that was traded in or a good that was traded in, and the new purchase, such that the tax would apply on the difference. This, I think, would also help those in the industry maintain parity with what I understand happens in the car industry. I was surprised to learn that this was the case on the GST, as an example, but since it is a benefit provided in the car industry, I think a similar principle would apply here.
I'm happy to go to a vote.