Finance committee  I think I would say there are two reasons. One is historical and the other more policy focused. Some time ago, rules were introduced to prevent inappropriate multiplication of the small business deduction. A classic example of that is a law firm with 100 partners, say, and under

Finance committee  Thank you, Chair. That is correct.

Finance committee  We have in the bill, as already discussed, a measure relating to donations of cultural property that I think Blaine could expand upon, but that's another example where cultural property is designated as a thing of outstanding significance currently or national importance. That's

Finance committee  There are a couple of things just to make sure we're talking about the same thing. There are three separate measures, each providing support to Canadian journalism. The labour tax credit that I think we're talking about, providing up to $55,000 of salary, is mainly in clause 23 o

Finance committee  Right. There is a requirement that it not have received funds in respect of the year from that fund. Generally—and hopefully this is helpful—in terms of the organization of the rules, the “qualified Canadian journalism organization” definition is to be found in proposed subsecti

Finance committee  To be clear, that's the Minister of National Revenue as defined in the Income Tax Act.

Finance committee  That's correct.

Finance committee  Go ahead.

Finance committee  The labour tax credit is available as of the beginning of 2019, essentially. The other two are available as of the start of 2020. The idea is that the advisory panel has not been constituted nor has the body been designated. The idea is that designation could be retroactive to th

Finance committee  That's correct.

Finance committee  That's what the bill provides.

Finance committee  The credit applies with respect to salary or wages paid and to work done now. As of January 2019, the filing deadline would depend on their year-end for corporations or taxpayers.

Finance committee  For corporations it could be any time. Their taxation year lines up with their fiscal year and they can pick off-calendar fiscal years for trusts.

Finance committee  The filing deadline for corporations is generally six months after the end of their taxation year. Most have a December year-end, but many do not. I guess, conceptually, if you had one with a taxation year-end at the end of January with one month's worth of qualifying expenditure

Finance committee  Of course, entities are free to make decisions based on their own analysis of whether they think they are going to be a qualifying Canadian journalism organization based on the criteria set out. Although, as has been noted, while businesses can make decisions on investments and