Good afternoon. My name is Pierre Mercille. I am the director general responsible for the sales tax legislation at the Department of Finance. I'm going to talk about part 3, which is essentially amendments under the Underused Housing Tax Act. That act was made into law through Bill C-8 earlier this year.
The amendment to the Underused Housing Tax Act addressed minor issues of a technical or housekeeping nature. This being a brand new act, minor deficiencies were identified and are now being fixed. It also implements the underused housing tax regulation, which implements an exemption from the underused housing tax for personal use vacation properties generally located in rural areas of Canada. The regulation also gives the Minister of National Revenue the authority to require that individuals provide, where applicable, their social insurance number in returns required to be filed under the Underused Housing Tax Act.
Thank you.