Mr. Speaker, a tax credit of $160 million does not fix a tax increase of $1.8 billion.
Among the Canadians getting clobbered on the stock market are those with RRSPs withering away. At age 71, they have no choice and must convert their RRSPs into registered income funds and begin reporting them as taxable.
Given the stock market turmoil, will the government show flexibility for seniors, flexibility on the date when RRSPs must be converted to RRIFs and flexibility on the minimum amounts to be taken into income?