FINA Committee Meeting
Notices of Meeting include information about the subject matter to be examined by the committee and date, time and place of the meeting, as well as a list of any witnesses scheduled to appear. The Evidence is the edited and revised transcript of what is said before a committee. The Minutes of Proceedings are the official record of the business conducted by the committee at a sitting.
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Minutes of Proceedings
Trevor McGowan made a statement and, with Miodrag Jovanovic, answered questions.
On motion of Phil McColeman, it was agreed, — That the Committee invite the Honourable Bill Morneau, the Minister of Finance, and officials from the Department of Finance, to testify about the Main Estimates 2016-17 on or before May 20th, 2016.
The Committee resumed consideration of Bill C-2, An Act to amend the Income Tax Act.
Questioning of the witnesses resumed.
At 12:25 p.m., the sitting was suspended.
At 12:32 p.m., the sitting resumed.
Steven MacKinnon moved, — That a proposed budget in the amount of $ 16,300, for the study of the Bill C-2, An Act to amend the Income Tax Act, be adopted.
The question was put on the motion and it was agreed to, by a show of hands: YEAS: 5; NAYS: 4.
Guy Caron moved, — That, pursuant to Standing Order 108(2), the Committee undertake a study of the benefits and impacts of a guaranteed minimum income system and report its recommendations to the House.
After debate, the question was put on the motion and it was negatived on the following recorded division:
YEAS: Guy Caron, Ron Liepert, Phil McColeman, Lisa Raitt — 4;
NAYS: Raj Grewal, Steven MacKinnon, Jennifer O'Connell, Robert-Falcon Ouellette, Francesco Sorbara — 5.
Guy Caron moved, — That the Standing Committee on Finance invite the Honourable Diane Lebouthillier, Minister of National Revenue; Andrew Treusch, Commissioner and Chief Executive Officer, Canada Revenue Agency (CRA); Ted Gallivan, CRA Assistant Commissioner, Compliance Programs; and Stéphanie Henderson, Manager, Offshore Compliance to inform the Committee about the recent revelation of an amnesty deal dated May 1, 2015, offered by the CRA to former and current clients of KPMG LLP regarding its participation in a structure known as an “offshore company” or “offshore company structure”; that the Committee invite to a subsequent meeting officials from the KPMG LLP accounting firm as well as experts the Committee deems pertinent; and that the Committee plan an additional meeting to consider a draft report.
After debate, the question was put on the motion and it was negatived, by a show of hands: YEAS: 4; NAYS: 5.
Francesco Sorbara moved, — That the Standing Committee on Finance call for officials from the Canada Revenue Agency (CRA) including Ms Stephanie Henderson, manager of offshore compliance to appear before the committee on April 12, 2016 to provide the committee with an explanation as to the process and procedures related to the provision to KPMG “high net worth” clients an amnesty provision freeing those clients from any civil or criminal prosecution – including fines and penalties related to the use of certain offshore tax provisions which have been described as “grossly negligent” and “intended to deceive”;
That the committee also call for officials of KPMG involved in this practice to attend the committee to provide clarification and explanation; and
That the committee call for the production of the May 1, 2015, nine page letter signed by Stephanie Henderson forwarded to officers of KPMG related to this matter and that the letter be provided to the committee no later than April 11, 2016.
Ron Liepert moved, — That the motion be amended by adding, after the words “Canada Revenue Agency (CRA)” and before the words “including Ms Stephanie Henderson”, the following words: “and the Honourable Diane Lebouthillier, Minister of National Revenue”.
Debate arose thereon.
At 1:08 p.m., the Committee adjourned to the call of the Chair.