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Finance committee  If you look at subclause 12(4), the provision that creates a deemed overpayment of tax, you see that the Canada workers benefit is a refundable tax credit. The mechanism for providing refundable tax credits is that you have a deemed overpayment of tax. You're deemed to have paid

November 1st, 2018Committee meeting

Trevor McGowan

Finance committee  There are 40 clauses in part 1 of the bill.

November 1st, 2018Committee meeting

Trevor McGowan

Finance committee  I don't have that information with me. I would have to check and get back to you on that.

November 1st, 2018Committee meeting

Trevor McGowan

Finance committee  Currently, the Mutual Legal Assistance in Criminal Matters Act is used for other types of offences, but there is not, currently, an explicit process in place for providing this kind of information relating to criminal tax offences. This would introduce an explicit process, where

November 1st, 2018Committee meeting

Trevor McGowan

Finance committee  The last measure in part 1 of the bill can be found in clauses 34 and 40. It relates to the tax treatment of Quebec pension plan contributions. As is the case for contributions under the enhanced Canada pension plan, a deduction would be made available for the enhanced portion of

November 1st, 2018Committee meeting

Trevor McGowan

Finance committee  Yes. If you're asking for a table showing the impact on government revenues for each of these measures, it's found in the tax measures supplementary information that accompanied the budget on page 6.

November 1st, 2018Committee meeting

Trevor McGowan

Finance committee  It sets out how much each measure is expected to either raise or cost the government.

November 1st, 2018Committee meeting

Trevor McGowan

Finance committee  The next measure is found in clause 25 of the bill. It relates to the reporting requirements in respect of foreign affiliates. Currently, taxpayers have until 15 months after the end of their taxation year to file what is called a T1134 form, which provides information in respec

November 1st, 2018Committee meeting

Trevor McGowan

Finance committee  The next measure is found in clauses 26, 28, and 29 to 33 of the bill. It relates to sharing information for certain criminal matters. Currently, the government has obligations under its tax treaties and other international bilateral agreements to share information with its part

November 1st, 2018Committee meeting

Trevor McGowan

Finance committee  It depends on the type of corporation, but it's usually three or four years.

November 1st, 2018Committee meeting

Trevor McGowan

Finance committee  That's right. Again, it's limited only to the specific set. That's where it's been granted. If you go back to an earlier year, that's only to deal with these loss carry-backs.

November 1st, 2018Committee meeting

Trevor McGowan

Finance committee  It's not generally opening up that previous year.

November 1st, 2018Committee meeting

Trevor McGowan

Finance committee  The next measure is found in clause 18 of the bill. More particularly, it's found in subclauses 18(3), 18(6) and 18(11). It relates to another reassessment period in respect of foreign affiliates of a taxpayer. As we just discussed, there is an extended three-year reassessment pe

November 1st, 2018Committee meeting

Trevor McGowan

Finance committee  Again, it depends on the type of corporation. If the normal reassessment period is three or four years, it would be six or seven years. The next measure is found in clauses 22, 23 and 24 of the bill. It relates to reassessment periods and requirements for information and complia

November 1st, 2018Committee meeting

Trevor McGowan

Finance committee  The next measure in the bill is found in clause 18. It relates to the reassessment period for non-resident and non-arm's-length persons. For this one, it might be helpful to add a bit more precision. It's found in subclauses 18(2), 18(4), 18(5), 18(7), 18(10) and 18(12). There is

November 1st, 2018Committee meeting

Trevor McGowan