Finance committee  Thank you for the question. I'm happy to provide some general comments on the proposed amendment on the collection of tax debts. There's an existing section in the Income Tax Act—section 160—that is intended to prevent somebody who owes taxes from moving their assets to a non-arm's-length person to avoid having to pay the tax debts they owe.

Finance committee  I don't recall where the request for that came from or what the genesis of it was.

Finance committee  As I said, my understanding of the policy was to help provide necessary information to the government to ensure compliance, and also to be able to look at the policy to make sure that the rules were working as intended.

Finance committee  Thank you for the question. The question provided more information to the Canada Revenue Agency on a very significant tax exemption, maybe one of the most significant tax exemptions for many Canadians, which is that they don't have to pay capital gains tax on the sale of their principal residence.

Finance committee  I'll try, or perhaps Stephanie would like to take it? She's an expert on tax treaties.

Finance committee  I was just going to confirm that budget 2021 proposed to provide funding over two years to Innovation, Science and Economic Development Canada to support the implementation of a publicly accessible corporate beneficial ownership registry by 2025—

Finance committee  If not, I think we could probably speak to them. My colleague Lesley Taylor is in the lobby. She is one of our policy leads on the registered disability savings plans.

Finance committee  These amendments are consequential on the amendments to the registered disability savings plan. I don't know if somebody else was planning to come to speak to Canada disability savings regulations.

Finance committee  The rates for furloughed employees are currently set out in the regulations. Many of the other rates can actually be changed by regulation as well. The base wage subsidy rate and the rent subsidy base rate can be changed by regulation as well, but this one relates to furloughed employees, and the rate is currently set out in the regulations.

Finance committee  Clause 93 relates to the enhanced capital cost allowance, or accelerated investment incentive deductions, available for zero-emission vehicles and the expansion of the types of vehicles that qualify. As we discussed earlier, the capital cost allowance system is based on a number of capital cost allowance classes.

Finance committee  I can speak to clause 91. This clause relates to specified multi-employer plans. A specified multi-employer plan is a common type of defined benefit pension plan in unionized trades. Contributions to the plan are determined at a per hour rate under collective bargaining arrangements.

Finance committee  I can turn to my colleague Max on the aspect of providing more flexibility for retirements, because that is certainly one of the driving forces for ALDAs, or advanced life deferred annuities, and variable payment life annuities. This specified multi-employer plan responds more to an oddity in the current rules, whereby when somebody continues working past 71, no benefits under the current rules could accrue to them, but there are still contributions being made in respect to them.

Finance committee  Clause 92 is a consequential amendment related to the extension of the Canada emergency wage subsidy. The wage subsidy provides subsidization in respect of broadly two classes of employees. It provides the basic set of rules for active employees, but it also provides a subsidy in respect of furloughed employees—that is, employees who are on leave with pay.

Finance committee  I just sent him a note. I can maybe start to go through it until Max makes it on. He is the expert on pension rules. As I said, clause 90 relates to the introduction of variable payment life annuities. For the money purchase provisions of these plans, subsection 8506(1) sets out the permissible types of benefits that can be offered.

Finance committee  Actually, no. As I mentioned earlier, this provides the main set of the rules, and the one I talked about earlier was consequential, but this relates to VPLAs.