Thank you, Mr. Chair.
Thank you to the witnesses for being here today.
I have a lot of questions for you, so I'll get right to them.
Under the tax rules that were in effect until the end of December 2022, a foundation had to spend 3.5% of its donation assets. Ms. Freeland, the finance minister, changed that. As of 2023, the requirement was increased to 5%.
What are the consequences if that rule is broken?