Mr. Speaker, with regard to part (a), over 21,000 submissions were received in response to the consultation on tax planning using private corporations via email in the dedicated consultation mailbox. This total includes over 11,000 form letters. In addition to the emails received through the consultation mailbox, over 10,000 related items of correspondence to the Minister of Finance were received by the department.
With regard to part (b), the department has not kept a record or a tally of submissions based on their source, such as place of residence, occupation, etc. Individuals and groups making submissions to the consultation mailbox were not asked to provide this information .
With regard to parts (c) to (h), the department is in the process of reviewing submissions to ensure that comments and proposals are properly taken into account in the further development of the policy. Through this process, the department is not keeping a record or a tally of all these submissions based on their degree or type of support. That said, various opinions were expressed.
With regard to part (i), the consultation mailbox received over 200 submissions via email from October 2, 2017 to October 17, 2017, i.e., the date of the question. Concerns raised in these submissions will be considered by the Department of Finance.
With regard to part (j), the tax policy branch of the Department of Finance is receiving the submissions directly.
With regard to part (k), as announced in the fall economic statement 2017, the government will propose measures to limit tax deferral opportunities related to passive investments, and will release draft legislation as part of budget 2018. The department will provide a revenue estimate after key design aspects are determined.
With regard to part (l), the government’s estimation of revenue to be generated by the proposed measures to limit income sprinkling using private corporations is about $215 million in 2018-19, growing to $245 million by 2022-23.
With regard to part (m), the government announced in the fall economic statement 2017 that it is no longer moving forward on the proposed changes regarding the conversion of income into capital gains and that the draft legislative proposals released with the consultation will not proceed.