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Finance committee  The reason for this footnote is to be clear that these benefits, particularly under the current system, may vary for a number of reasons. It may depend on the distribution of income within the couple because the universal child benefit is taxable in the hands of the lowest income

April 12th, 2016Committee meeting

Miodrag Jovanovic

Finance committee  Again, income splitting is not considered here.

April 12th, 2016Committee meeting

Miodrag Jovanovic

Finance committee  It's available yes, but I'm not sure what the benefit would be in this particular case—

April 12th, 2016Committee meeting

Miodrag Jovanovic

Finance committee  I can't answer that question. All I'm saying is that this is comparing just two systems.

April 12th, 2016Committee meeting

Miodrag Jovanovic

Finance committee  Yes, that is correct.

April 12th, 2016Committee meeting

Miodrag Jovanovic

Finance committee  That is correct.

April 12th, 2016Committee meeting

Miodrag Jovanovic

Finance committee  Thirty-five per cent of Canadians do not pay tax.

April 12th, 2016Committee meeting

Miodrag Jovanovic

Finance committee  Thirty-one per cent.

April 12th, 2016Committee meeting

Miodrag Jovanovic

Finance committee  One of the responsibilities of the Canada Revenue Agency is to inform Canadians about their obligations regarding tax and also about the new rules if they change, if taxation rates change and if there are various other changes. That is a part of the responsibilities of the agency

April 12th, 2016Committee meeting

Miodrag Jovanovic

Finance committee  What I can say is that 8.7 million taxpayers, or 31% of the population, are in the first tax bracket.

April 12th, 2016Committee meeting

Miodrag Jovanovic

Finance committee  As I said in the beginning, it is mostly done through the agency's website. It is its main means of communication.

April 12th, 2016Committee meeting

Miodrag Jovanovic

Finance committee  As I said in the beginning, I will get back to you with some more detail on this, but according to what I understand, the main way in which the Canada Revenue Agency communicates with taxpayers is through their website.

April 12th, 2016Committee meeting

Miodrag Jovanovic

Finance committee  Sorry, the income expected is about $2 billion in 2016-2017, and it goes up to $2.6 billion in 2020-2021.

April 12th, 2016Committee meeting

Miodrag Jovanovic

Finance committee  The revenues generated by the 33% tax rate would be about $2 billion in 2016-17, $2.155 billion the following year, $2.295 billion in 2018-19, $2.44 billion in 2020, and $2.59 billion in 2020-21.

April 12th, 2016Committee meeting

Miodrag Jovanovic

Finance committee  This is based on the Department of Finance's projection of different types of income sources, for instance, dividend income, capital gains income, and, ordinary interest income or wage. The $200,000 bracket will be indexed to inflation, however, these sources of income tend to

April 12th, 2016Committee meeting

Miodrag Jovanovic