Mr. Speaker, of course the experts will keep trying, but with the government as an accessory? That is what is happening.
On October 2, the Minister of Finance tabled a motion that was supposed to plug a tax loophole that allowed the transfer of a trust fund outside the country, like the $2 billion that was transferred to the United States tax free. In this motion, the Minister of Finance asks holders of Canadian trust funds to provide a guarantee equal to the amount of income tax they would normally have to pay Revenue Canada at the time of transferring the trust fund outside the country.
Unlike the rules applying to ordinary citizens or other rules applying to guarantees for tax deferral by a trust fund, would the minister agree that no interest is collected on the amount deferred and there is no limit on the deferral period? No interest is charged.