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
On motion of Daniel Blaikie, it was agreed, — That the committee proceed to clause by clause consideration of Bill C-228, An Act to amend the Bankruptcy and Insolvency Act, the Companies’ Creditors Arrangement Act and the Pension Benefits Standards Act, 1985, on Monday, October 31, 2022.
On motion of Marty Morantz, it was agreed, — That Jasraj Singh Hallan be elected First Vice-Chair of the committee.
On motion of Gabriel Ste-Marie, it was agreed, — That, for its study of Bill C-228, in the interest of concision and efficiency, the committee consider all the evidence and documents gathered by the Standing Committee on Industry, Science and Technology during the 2nd Session of the 43rd Parliament as part of its study of Bill C-253.
On motion of Philip Lawrence, it was agreed, — That, with regard to implementation of Part 4, the Select Luxury Items Tax Act of Bill C-19, An Act to implement certain provisions of the budget tabled in Parliament on April 7, 2022 and other measures, the Department of Finance provide the following to the House of Commons Standing Committee of Finance:
- On or before Wednesday, March 1, 2023, the Department of Finance provide a detailed written ‘economic impact study’ on the implementation of the Select Luxury Items Tax Act(“the tax”), including a breakdown of the expected impact on employment and expected tax revenue for each asset class. The aforementioned study should also provide an estimate on the total number of items (dollars and units) affected by the new tax (by asset class) compared to the previous three years.
- On or before Friday, December 9, 2022 the Department of Finance provide a detailed written ‘progress report’ on efforts by the Department of Finance to address issues with the implementation of the tax including a summary of discussions and issues raised by impacted sectors.
Additionally, by Friday, December 16, 2022 that the Department of Finance appear before the committee for one hour to discuss the tax, which should occur after the interim report has been tabled
The witnesses made statements and answered questions.
At 7:01 p.m., the committee adjourned to the call of the Chair.