Finance committee  That's correct.

Finance committee  That's correct.

Finance committee  Good afternoon. Right now, under the Income Tax Act, the deduction limit is $30,000 for businesses that purchase a passenger vehicle. For example, if they buy a $50,000 vehicle, they can only deduct $30,000 for tax purposes. The intent is to reflect the average cost of a vehicle

Finance committee  That's right.

Finance committee  The rebate is not part of the bill. I understand that $45,000 is the maximum for the price of the car. Officials from Transport Canada would be able to provide you more information on that rebate.

Finance committee  That's correct. The proportion above $55,000 would not be deductible for tax purposes, which is nevertheless an increase from the same vehicle that is gas powered. The amount above $30,000 would not be deductible for tax purposes.

Finance committee  Unfortunately, I can't answer your question, since we are here to talk about tax measures. The question is really outside the scope of the topic.

Finance committee  Yes, that's certainly the sort of analysis we conduct in the department while the government is thinking about this sort of measure. Reducing vehicle costs has an impact: the closer you get to the cost of gasoline-powered vehicles, the more attractive buying electric vehicles bec

Finance committee  The cost of the measure was actually quantified. I can give you the amounts, if you wish. For the period 2019-2020 to 2023-2024, it is estimated that this will cost the government $265 million.

Finance committee  The SR and ED program has two main components. The one that is available for small and medium-sized businesses is a 35% refundable tax credit. The second component available to all other businesses is a 15% non-refundable tax credit. Currently, to have access to the enhanced tax

Finance committee  Yes.

Finance committee  When firms have between $10 million and $50 million of taxable capital, the access to enhanced SR and ED credit is slowly reduced. Above $50 million, they no longer have access to it. Below $10 million, they have access to it.

Finance committee  Yes.

Finance committee  On page 380 of the budget plan document, you have the longer explanation of the change. It's also found in the main text on page 110.

Finance committee  The current limits have been in place for a number of years. I couldn't tell you the exact year, but it's still been a long time. I can only assume that the intention was to have another criterion to determine the size of the business, that is, to use taxable capital and taxable