Finance committee  I am sorry, but I did not quite understand your question. I didn't, in fact, hear either of them very well. The question related to the farming and fishing measure. I caught that much. Thank you. My colleague has clarified the questions somewhat. The farming and fishing measur

Finance committee  Yes, it affects a very small number of taxpayers.

Finance committee  Once again, I did not quite understand what you said. Yes, the properties could be sold separately. Yes, you're correct.

Finance committee  The measure for farming and fishing businesses applies in relation to two existing tax measures: the lifetime capital gains exemption and the rollover for children and grandchildren. Those are the main applications for the measure.

Finance committee  Once again, I apologize. I didn't quite understand your question. This is in relation to the income tax on split income, the existing rules of long standing. The measured target situations are where the parent is earning income from a partnership or trust—it could be another ad

Finance committee  I'm not sure that we have the number of affected individuals. We do have the revenue figure. It's a revenue gain of approximately $35 million per year.

Finance committee  The application of the top rate for trust is a long-standing measure since 1972. The presumption behind that rate choice, as I understand it, is that typically trusts are used by sophisticated, higher net-worth taxpayers who would, if they earned the income directly, likely be pa

Finance committee  Budget 2014 projects the fiscal impact for the captive insurance measure to be approximately $250 million per year for a total of $1.015 billion per year over the planning horizon. If you'd like, I could describe the type of transactions targeted.

Finance committee  Yes, from 2015-16 to 2018-19 is the projection. Briefly the existing tax policy under the Income Tax Act is to tax Canadian corporations on income earned in offshore jurisdictions where that income comes from property: passive sources. An existing tax rule treated income from th

Finance committee  Back-to-back loan transactions are undertaken almost exclusively in the corporate context. We're talking about a relatively small number of taxpayers in the corporate sphere, typically taxpayers with...multinational, enterprise-type taxpayers. There is not a revenue estimate prep

Finance committee  It should certainly make it easier for Canada and the Canada Revenue Agency in particular to obtain relevant tax information from foreign countries, so this measure is a small aspect of that policy.

Finance committee  I apologize. I do not have that information today, but I will follow up with Canada Revenue Agency officials.

Finance committee  Are you asking why this measure was not included in the first budget implementation act?

Finance committee  The only significant difference is that the public policy test that generated quite a lot of controversy and commentary at the time of Bill C-10 is not part of these measures.

Finance committee  No, that's not part of these measures,