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Finance committee  Sure. The measure I just referred to, the mineral exploration tax credit, is an incentive that goes to the investors who purchase the flow-through shares of mining companies. The corporate mineral exploration and development tax credit is the measure that is being eliminated. Th

October 31st, 2012Committee meeting

Geoff Trueman

Finance committee  The measure applies equally across Canada to mining activities, so there's no differentiation in terms of the region or the type of mining activity that's affected.

October 31st, 2012Committee meeting

Geoff Trueman

Finance committee  We don't do a specific analysis that allocates a dollar amount to a particular region. We examine the measure overall, and certainly the mining industry, as you say, is in most parts of Canada. It's important to remember that. Of course, as you say, the financing activity does ta

October 31st, 2012Committee meeting

Geoff Trueman

Finance committee  The measure is available to mining companies generally, so to the extent that mining activity occurs across Canada, the measure would affect most regions.

October 31st, 2012Committee meeting

Geoff Trueman

Finance committee  When we look at the measure, we would look at the impact on the mining sector overall. We would certainly be cognizant of the fact that mines may be located in remote or rural regions in Canada, but most parts of Canada do boast some mining activity.

October 31st, 2012Committee meeting

Geoff Trueman

Finance committee  The average of the cost over recent years has been in the range of $20 million per year.

October 31st, 2012Committee meeting

Geoff Trueman

Finance committee  The tax system is subject to ongoing policy review. As far back as 2006, the government indicated that it wanted to look at ways to make the tax system more neutral across sectors. We've seen certain rationalization measures in recent budgets, such as the phase-out of tax prefere

October 31st, 2012Committee meeting

Geoff Trueman

Finance committee  It's fair to say that we look at the fiscal impact and we take into consideration the economic impact across the mining sector. That would include where the incidents may lie across the country.

October 31st, 2012Committee meeting

Geoff Trueman

Finance committee  The fiscal impact is in the budget. I believe the numbers are, for the mineral exploration tax credit, starting at $10 million in 2013-14 and ramping up over the next two fiscal years to $25 million per year and then $30 million per year. Certainly in terms of mining financing a

October 31st, 2012Committee meeting

Geoff Trueman

Finance committee  I don't have an exact number for you. It would be a relatively small subset. The equipment tends to be fairly specialized.

October 31st, 2012Committee meeting

Geoff Trueman

Finance committee  The department receives a number of submissions every year regarding eligibility for equipment under class 43.2. This would have been a technology that would have come up in submissions from some stakeholders.

October 31st, 2012Committee meeting

Geoff Trueman

Finance committee  One example would be that if you own a commercial building, you could purchase a boiler that would burn wood waste, for example, to heat the property. That would be an example of a qualifying application. Similarly, regarding district energy, heat generated by waste-fueled energy

October 31st, 2012Committee meeting

Geoff Trueman

Finance committee  Class 43.2 generally will cover a range of equipment that uses renewable fuels or waste fuels or makes more efficient use of a fossil fuel.

October 31st, 2012Committee meeting

Geoff Trueman

Finance committee  It does include equipment that uses various forms of renewable energy.

October 31st, 2012Committee meeting

Geoff Trueman

Finance committee  I would have to check the specific eligibility of a particular item.

October 31st, 2012Committee meeting

Geoff Trueman