Thank you, Mr. Minister. To page 3-33, liquor revolving fund.
Debates of Feb. 14th, 2005
This is page numbers 1191 - 1224 of the Hansard for the 15th Assembly, 3rd Session. The original version can be accessed on the Legislative Assembly's website or by contacting the Legislative Assembly Library. The word of the day was going.
Topics
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
Some Hon. Members
Agreed.
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
Bill Braden Great Slave
Thank you, Mr. Chairman. I appreciate committee going back to this to help sort out a few things. What I wanted to look at was some of the considerable variances in one area. In the corporate income tax for this current year, 2004-05, we opened the year with an expectation of $31.75 million in corporate income tax revenue. The revised estimates for the same year show us at some $46.33 million. That's about a 50 percent increase within this current year in more corporate income tax. That's a lot more revenue, Mr. Chairman. I am sure the Minister of Finance knows that. I wonder if we can get an explanation of the considerable jump, 50 percent, from forecast to revised. Thank you.
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
Floyd Roland Inuvik Boot Lake
Thank you, Mr. Chairman. In the area of the corporate income tax, the changes that we see from the main estimates to the revised main estimates are mainly due to the way the federal government had done its estimations. It has changed the way it has done its estimations on a national basis for the corporate income tax. As a result of that, it has improved our position substantially. Thank you.
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
Bill Braden Great Slave
Thank you, Mr. Chairman. So this is not just a one-time thing, an adjustment. It's a new ongoing way of calculating tax. Thank you.
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
Floyd Roland Inuvik Boot Lake
Thank you, Mr. Chairman. Again, it's a process that they've used and in our situation we would consider it, as probably every other jurisdiction, an improved estimation of where the corporate income tax would be for the fiscal year we would be in. Again, as the numbers become solidified as we actually get to count the returns that have been filed and so on, there could be further adjustments, but this is based on estimations that are made using the new way the federal government is doing it, which has changed our revised estimates. We are hoping that it continues to go forward. The estimations will, again, until they get changed again by the federal government, but this is a new methodology or new forecast on numbers. It's something we hope that will continue. Again, it all gets adjusted to actuals when the filings are made. Thank you.
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
Bill Braden Great Slave
Thank you, Mr. Chairman. The other variance I would like to look into is also in the taxation area and it's on the personal income tax side. We have a revised estimate for this current year of just over $56 million, Mr. Chairman. That's going to drop to somewhere around $40 million next year and I am just wondering about that variance. It's a considerable spread. In this case, a decrease in revenue and I am looking for an explanation there. Thanks.
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
Floyd Roland Inuvik Boot Lake
Thank you, Mr. Chairman. Mr. Chairman, that drop is related to the implementation of our cost of living tax credit. So that's why you see a significant change there. It's the increase that we have put in place through our first budget process and gets implemented now. As that implementation occurs, we see the drop in our personal income tax. Thank you.
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
Some Hon. Members
Agreed.
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
Some Hon. Members
Agreed.
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
The Chair David Ramsay
Page 3-7, operations expenditure summary. Under department summary, $7.900 million. Agreed?
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
Some Hon. Members
Agreed.
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
The Chair David Ramsay
Does the committee agree that consideration of the department's estimates is concluded?
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
Some Hon. Members
Agreed.
Committee Motion 20-15(3): Recommendation To Communicate Elements Of The 2006 Census, Carried
Item 20: Consideration In Committee Of The Whole On Bills And Other Matters
Page 1223
The Chair David Ramsay
Okay, I'd like to thank the Minister and thank you, Mr. Enge and Ms. Melhorn. What is the wish of the committee? Mr. Menicoche.