Finance committee  That is correct, for the period up to the end of November.

Finance committee  No, you're absolutely correct. There are a certain number of things that can be changed by regulation. For the wage subsidy, it can be extended by two periods and the rates can be changed and the phase-outs. More granular changes or more fundamental changes to the program would n

Finance committee  Thank you. I'd be happy to do so. Again, this is a highly technical change to the rules and a clarification. A lot of the programs listed have restrictions relating to whether non-residents can take part in them. However, they don't all use the same concept of non-residency as t

Finance committee  I can speak to the tax definition of “residency”. The other programs might have different definitions of residency, perhaps based on citizenship rules or what have you. Under our domestic rules, tax residency—the concept of where you are resident, fundamentally—looks to where you

Finance committee  Pierre, do you have that?

Finance committee  If the question is whether the amendments could be easily administered by the Canada Revenue Agency, as was noted, what they do is extend an existing set of rules that have been around for a number of years. Tax advisers and their clients are well accustomed to them, in addition

Finance committee  No. It's largely an extension of an existing set of rules that has been administered and functioning for some years.

Finance committee  Thanks. I'd be happy to give an overview of the amendments in the bill.

Finance committee  They relate to the change in use of properties. Currently, for example, if you own a rental property and you make it your principal residence, there is a deemed disposition of the rental property. The value that it increased while it was a rental property is taxable, and the valu

Finance committee  I would ask my colleague, Maude, if she knows. This was a measure that was announced in the 2019 budget, so it would have an expected revenue impact associated with it. In terms of the specific number of affected taxpayers, we don't have that number at our fingertips. We can end

Finance committee  I don't know whether my colleague Maude Lavoie could speak to the economic side of it. I can speak to the legal and technical impacts of this measure. What it does is it affects an existing rule in subsection 212(3) of the Income Tax Act that is aimed at addressing these foreign

Finance committee  The foreign affiliate dumping rules currently apply where a non-resident corporation, a multinational, owns a corporation resident in Canada or controls them. The corporation resident in Canada wants to avoid Canadian tax, so they engage in what is called a foreign affiliate dump

Finance committee  It can be prevalent in terms of the size of the investments, but not in respect of the number of affected taxpayers. There aren't tens of thousands of them using this type of structure, but it is something that has been seen.

Finance committee  That's correct. It applies only in the multinational context.

Finance committee  Thank you for the question. I see that my colleague Pierre Leblanc has taken himself off mute, so I'll turn it over to Pierre.