Finance committee  No, thank you. Actually, that's perfect. It's my understanding as well that the effect of the measure would be to eliminate a requirement currently in the rules, which would naturally tend to increase amounts drawn from the CRF, consolidated revenue fund. That would be tantamount

Finance committee  Thank you for the question. There are of course no amendments to the general anti-avoidance rule in Bill C-19. I just wanted to make that clear. The government did announce a specific amendment to the general anti-avoidance rule in budget 2022 that would extend the definition o

Finance committee  Thank you for the follow-up question. Yes, of course, the department is very much involved in studying and analyzing the impacts of the Alta case. Recently, through an act of Parliament, Canada enacted the multilateral instrument, which is a rule developed with a number of othe

Finance committee  I believe it would be up to the government ministers to table bills.

Finance committee  As I noted earlier, I think my response would be the same to this question. It is a decision for the government as to what measures get included in the bill. It's fairly normal procedure for some of the more complex measures, or measures that might benefit from more stakeholder e

Finance committee  That is correct. The 2022 federal budget announced a measure relating to carbon capture and storage. It is also entirely correct that it's not contained in the first budget implementation bill. I can say that, for a lot of more complicated measures, as the CCUS credit would be,

Finance committee  As I noted, the measure's not contained in Bill C-19. It will ultimately be a decision for the government as to what legislative vehicle the measure would be included in. As I said, it's fairly normal course for some of the more complicated measures to be announced in a budget. Q

Finance committee  Thank you, Chair. I'm of course here to provide technical analysis. I'm happy to help out within the scope of what is appropriate, and I will defer to the chair's judgment on the scope of that. If it would be appropriate for me to answer the question, I could provide some insigh

Finance committee  Thank you for the question. I think I would direct a question to the chair, or perhaps the parliamentary secretary. I just want to be sure about my role in appearing before this committee. My understanding was that it is to provide technical advice on the contents of the bill a

Finance committee  I can provide a short answer, which is that the Canada Revenue Agency has been developing guidance on rules. With any amendment in the bill, they would continue to do so, so that taxpayers are apprised of their rights and obligations through the bills that are enacted by Parliame

Finance committee  That's absolutely correct. Of course, I would not speak on behalf of the Canada Revenue Agency about their IT and system requirements. I know they've been working tirelessly on implementing the systems required to get the mechanisms under the bill. If it would be helpful to cla

Finance committee  As I noted, I'm not certain whether or not the Canada Revenue Agency.... I'm not certain what kinds of delays in the delivery of the programs this would lead to with the CRA systems. I'm sorry. I don't know that.

Finance committee  Maybe I'll start with your second question first. As noted, there's a concern that because the rules apply to all dividends and not just dividends paid on the publicly listed shares, they could require repayment of the wage subsidy where one entity in a corporate group is moving

Finance committee  Thank you for the question. I can start with the second part, perhaps, and then turn it over to my colleague Max Baylor. He can speak to the number of public companies that would be affected. As I understand the question, it was to provide a brief overview of some of the technic

Finance committee  Okay. Thank you very much. As was already noted, the coming-into-force rule would have made it retroactive. With no coming-into-force rule, the default rule would be that it comes into force on royal assent. That would lead to some ambiguity, still, in terms of when it would app