Mr. Speaker, I rise today to present two petitions on behalf of the people of Random—Burin—St. George's, the riding that I represent.
The first petition is from a group of fishermen and women in Newfoundland and Labrador who took early retirement at the request of the federal government back in 1998.
In 2007, Revenue Canada, the tax court, determined that only 25% of retirement benefits should be applied to the capital gains tax formula. However, 100% of the revenue was in fact taxed, leaving 850 fishers, 798 from Newfoundland and Labrador and 52 from the Quebec north shore, unfairly treated by the Government of Canada. There are 150 fishers who followed the recommendation of DFO at the time. They had their taxes treated fairly, and therefore each saved, on average, about $20,000.
The petitioners call upon the Government of Canada to recognize this unfairness and to do the right thing and treat all of these fishermen and women in the proper way.