Finance committee  Clause 51 relates to the repayment of certain COVID-19 benefits. If a benefit is received, it's generally included in your income. If you have to repay it, the general rule is you get a deduction for the repayment in the year that the repayment is made. This measure would allow for a deduction in the year when the COVID-19 benefit is received rather than in the year in which it's repaid.

Finance committee  For example, I receive one of the listed COVID-19 benefits, like the CERB. I applied for it, but I wasn't entitled to receive it, so I have to pay back some portion of it. If it's an income-tested benefit, maybe my income was a bit higher and I had to pay back a portion of it.

Finance committee  Is that for clause 51?

Finance committee  I apologize. I confused it with a different measure. You're absolutely correct. Flow-through shares allow resource companies to raise money more effectively by effectively transferring some of their qualifying expenses, such as Canadian exploration expenses and development expenses, to their investors, who can use the deductions.

Finance committee  Thank you for the consideration and the offer, but I'm happy to continue.

Finance committee  Clause 43 is a consequential amendment relating to the introduction of the new Canada recovery hiring program. It provides penalties for false statements, omissions and non-compliance. It adds cross-references so that those penalties can apply where there is non-compliance with the new recovery benefit.

Finance committee  Clause 44 is another set of consequential amendments. They deal with refunds of taxes, which is relevant in the context of certain refundable tax credits, and they add new cross-references to measures under the Canada recovery hiring program that has been introduced, as well as to the new journalism measures.

Finance committee  Clause 45 relates to the measure we discussed earlier, the revocation of qualified donee status from charities that become listed terrorist entities. It provides for the actual revocation mechanism.

Finance committee  Clause 46 relates to the qualified Canadian journalism organization rules. It provides a specific set of rules for acquiring and losing designation as a qualified Canadian journalism organization. It is relevant to the labour tax credit, digital tax credit and qualified donee status supports for journalism.

Finance committee  Clause 47 is a consequential amendment relating to the measure that requires registered charities to lose their charitable status once they become listed terrorist entities. It provides a year-end on revocation. It also provides another consequential amendment in respect of that charity measure.

Finance committee  Clause 48 relates to the advanced life deferred annuities and provides the bulk of the rules in respect of those, which I have noted are a new type of investment vehicle that can provide additional flexibility in saving for retirement.

Finance committee  I apologize. That was my mistake. I described clause 48 along with clause 47. Clause 47 is just the notice of revocation for becoming a listed terrorist entity. Clause 48 deals with making a false statement in order to maintain charitable registration status. I'm sorry. I combined the two.

Finance committee  I would be happy to do so, and I appreciate the question. As I said, I'm trying to balance brevity with the need to provide information. This really is more of a technical change. The broader transfer pricing changes are to come later. However, I can speak to it right now. Transfer pricing refers to the prices charged between non-arm's-length parties across borders.

Finance committee  Clause 41 is a consequential amendment relating to advanced life deferred annuities.

Finance committee  Clause 42 is a consequential amendment relating to the journalism measures, in particular the extension of the journalism labour tax credit to partnerships—I shouldn't say “the extension” of it. It's the provision of rules that clarify how the labour tax credit is intended to apply when a partnership is carrying on journalism activities.