Madam Speaker, I would like to thank the hon. member for Calgary Crowfoot for his diligent work on this file and for helping me in my quest to draft this legislation.
Absolutely, I do not believe that a corporation deserves any privacy when it owes the treasury or the CRA any money that is all of a sudden waived. There should be no expectation of privacy when that occurs, especially as those amounts have gotten higher and higher and higher.
This bill is focused on the writeoffs that are in excess of $1 million. I am open to suggestions on other thresholds, but I do not believe, and I strongly agree with my colleague, that there should be any expectation of privacy when amounts of that size are written off.