Jane Stewart

[Capital Gains, May 17th, 1996]

Mr. Speaker, I am not refusing to do anything. It is very important for the community to understand how tax rulings play a significant role in our tax system and the underpinning they provide to Canadian taxpayers. Our tax system is very complex. Very often individuals need an advance ruling from Revenue Canada. That forms the basis of a fair and equitable process.

These things will be discussed fully and openly in committee. I encourage the hon. member to ensure her members are part of that review.

[Capital Gains, May 17th, 1996]

Mr. Speaker, we are taking direct action. Our view, the best view, is to ensure Canadians have an opportunity to hear all aspects of this case, decisions on which were made in 1991 and 1985. We are taking direct and urgent action. We encourage the committees to carry on with their work.

[Capital Gains, May 17th, 1996]

Mr. Speaker, my mandate is to ensure the tax system is fair and equitable to all. The interesting result of the conversations in the House and in the popular press is there needs to be more information on how tax rulings work in our system, on how taxable Canadian property is interpreted and used. The best venue for that is a public domain like the finance committee.

[Taxation, May 16th, 1996]

Mr. Speaker, that supposition is not at all what the deputy minister said in committee today.

I point out yet again the public accounts committee is the second public venue in which this information is being reviewed. I again congratulate the hon. member for being part of that committee. We do look forward to its recommendations.

[Taxation, May 16th, 1996]

Mr. Speaker, I have already answered that question. However, I will just point out that one of the critical differences between our government and the previous government is that we take action. When we take action we take it in a very public way.

[Capital Gains, May 16th, 1996]

Mr. Speaker, there are too few Canadians who have $2 billion in assets. I suggest that if Canadians continue their confidence in us, there will be more money in the country.

[Capital Gains, May 16th, 1996]

Mr. Speaker, indeed this is not the case.

Let me repeat the tax law is very arcane and complex. It needs time to be reviewed, understood and the implications determined not only for Canadians who have $2 billion in assets but for those who may have only $2.

[Capital Gains, May 16th, 1996]

Mr. Speaker, I cannot understand why the hon. member would deny that the best place for these questions to be reviewed would be in a very public forum where members who are elected by Canadians

across the country have a chance to look at the law and make recommendations to the Minister of Finance.

[Capital Gains, May 16th, 1996]

Mr. Speaker, I agree with the hon. member that the case is urgent. I would therefore ask him why one of his own members walked away from the committee saying there was nothing important to do there.

[Capital Gains, May 16th, 1996]

Mr. Speaker, I would remind the hon. Leader of the Opposition that even though this decision was one made by a government previous to ours, we have acted in an urgent fashion. We have asked the finance committee to review these concerns the auditor general has drawn to our attention. We asked the committee to do it the very day the auditor general's report came down.