FINA Committee Meeting

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MINUTES OF PROCEEDINGS

Meeting No. 109

Thursday, March 7, 2013

The Standing Committee on Finance met at 8:46 a.m. this day, in Room 237-C, Centre Block, the Chair, James Rajotte, presiding.

Members of the Committee present: Mark Adler, Hon. Scott Brison, Guy Caron, Raymond Côté, Shelly Glover, Randy Hoback, Brian Jean, Cathy McLeod, Peggy Nash, James Rajotte, Murray Rankin and Dave Van Kesteren.

In attendance: Library of Parliament: Mark Mahabir, Analyst.

Witnesses: As an individual: Michael Vineberg. Certified General Accountants Association of Canada: Carole Presseault, Vice-President, Government and Regulatory Affairs. KPMG: Paul Hickey, Partner, Tax. Osler, Hoskin and Harcourt LLP: Andrew Kingissepp, Partner, Taxation.

Pursuant to Standing Order 108(2), the Committee resumed consideration of the subject matter of Bill C-48, An Act to amend the Income Tax Act, the Excise Tax Act, the Federal-Provincial Fiscal Arrangements Act, the First Nations Goods and Services Tax Act and related legislation.

Michael Vineberg, Andrew Kingissepp, Carole Presseault and Paul Hickey made statements and answered questions.

Shelly Glover gave notice of the following motion:

That the Finance Department provide an annual update to the Finance Committee on the status of all outstanding technical tax changes in an effort to ensure regular and timely legislation as already committed by the Conservative government.

Questioning of the witnesses resumed.

At 10:09 a.m., by unanimous consent and pursuant to Standing Order 115(5), it was agreed that the Committee continue to sit.

Questioning of the witnesses resumed.

The Committee proceeded to the consideration of matters related to Committee business.

The Chair presented the sixth Report from the Subcommittee on Agenda and Procedure. The Report was concurred in and read as follows:

That, notwithstanding the calendar of activities adopted by the Committee on February 26, 2013, the Committee’s new calendar of activities read as follows:
- March 19: Study of Bill C-48, Technical Tax Amendments Act, 2012
- March 21: Study of Tax Evasion and Tax Havens
- March 26: clause-by-clause consideration of Bill C-48, Technical Tax Amendments Act, 2012
- April 16: Study on Income Inequality (Motion M-315)
- April 18: Study on Tax Evasion and Tax Havens (draft report)
- April 23: Consideration of the Governor of the Bank of Canada’s Monetary Policy Report
- April 25: Study on Income Inequality (Motion M-315)
- April 30: Study on Income Inequality (Motion M-315)
- May 2: Study of the Budget Implementation Bill
- May 7: Study of the Budget Implementation Bill
- May 9: Study of the Budget Implementation Bill
- May 21: Study of the Budget Implementation Bill
- May 23: Study of the Budget Implementation Bill
- May 28: Study of the Main Estimates
- May 30: Study of Bill C-462, Disability Tax Credit Promoters Restrictions Act
- June 4: clause-by-clause consideration of Bill C-462, Disability Tax Credit Promoters Restrictions Act and study on Income Inequality (Motion M-315) (draft report)
- June 6: appearance of the new Governor of the Bank of Canada
That the amendments to Bill C 48 be submitted to the clerk by March 21, 2013, and distributed to Committee members.

At 10:16 a.m., the Committee adjourned to the call of the Chair.

Christine Lafrance
Clerk of the Committee

2013/03/27 9:54 a.m.