Finance committee  Sorry, I can't say yes or no. That's because I understand that the proposals, the legislation, is coming out on Tuesday and the devil will be in the details.

Finance committee  I can't give you a yes or no answer to that, because I don't think you're looking at the full—

Finance committee  Right, I appreciate your looking for a direct answer, but it all depends on the circumstance. I'll just give you a situation about a spouse. Let's say you have [Technical difficulty—Editor]

Finance committee  Let's just say we have a spouse, and while someone is starting a business, the other spouse is now bringing in all the funds to help support the family. You could go through the mechanical exercise of taking all the money the spouse brings in, dollar-for-dollar, back to the corpo

Finance committee  People think of passive assets as just investments in the stock market, but that's not true. There are a lot of passive assets that create jobs that really add a lot of value to the economy. Again, I think we really need to think this through and do a comprehensive study to make

Finance committee  I think you're looking at this more as a strictly retirement issue as opposed to a business issue. Let's take a tech company as an example. A tech company starts small, and it looks to grow very big. As the owners are looking to grow, a lot of times they're looking at an acquisit

Finance committee  That was provided to me by experts within my network. I asked people what had happened to the doctors. If I can respond to your point about them keeping the money and reinvesting, you just have to compare it to, say, a public corporation, which is not subject to those same rule

Finance committee  I don't know. I asked the experts, and they said they've already had two or three doctors leave.

Finance committee  That gets very challenging, but yes. In short, if we have a company that acquires another company, it's going to be using its assets, and that could be deemed to be a passive investment. So now, if one company buys another company and it now owns it, how is that going to be treat

Finance committee  That's another good question. Granted, this is in a proposal stage, so we haven't seen everything. I can comment based only on what I have been able to read, and the announcements by the government. The way they have explained it, everything that has been earned to date, in te

Finance committee  What our company does is build software to solve some of the hardest compliance in the country. I look at the effect this would have in all the different pools that have to be tracked. You'd have pools from before legislation, or before the day they implement the legislation. The

Finance committee  That's a good question. I work closely with CPA Canada. In the last few years, we've seen some change in legislation to the small business deduction, along with rules related to safe income, which is subsection 55(2). What we found in those areas where legislation was brought f

Finance committee  Sure. Thank you. There were some great submissions made by CPA Canada, but what we found was that not many of them were taken in. A lot of the unintended consequences predicted then have now come true in practice. I think the concern.... Again, as we saw with the discussion aro

Finance committee  Thank you, Mr. Chair, and members of the finance committee for the opportunity to speak about Canadian business productivity and competitiveness. I'd also like to thank the advisers in the business community who share their concerns with me. Today, I will focus my time on the p