With regard to the utilization of the Canadian small business tax rate by oil and gas companies: (a) how many oil and gas companies, broken down by their primary line of business, such as upstream exploration and production, midstream transportation and storage, downstream refining and distribution, and others, have claimed the small business tax rate, in each of the last five fiscal years; (b) what percentage does this represent of all oil and gas companies operating within the country; (c) what is the total amount of tax revenue received from oil and gas companies that claimed the small business tax rate, in each of the last five fiscal years; (d) how does the amount of oil and gas companies claiming the small business tax rate compare to agriculture and forestry, both in number and as a percentage of total companies in the respective sector; (e) are there any mechanisms or audits in place to ensure that larger oil and gas entities are not creating smaller subsidiaries primarily to benefit from the small business tax rate, and, if so, how many audits or investigations related to this issue in the oil and gas sector have been initiated in the past five fiscal years; and (f) broken down by province, where are the oil and gas companies claiming the small business tax rate primarily operating?
In the House of Commons on January 29th, 2024. See this statement in context.