Thank you, Mr. Chairman. Mr. Chairman, the regime where we work under and the environment we work under today without this change, if someone was to receive a dividend from a corporation, the existing process would be that they'd be hit up in a sense, as I had stated in my opening comments, a double hit on taxation because of our federal/territorial rules. That's why a lot of corporations would set other things up. For example, income trusts. That scenario is a flow-through which then we would not, as a GNWT, receive any of that possible tax. So that's the reason why we're doing this as well. Thank you.
Floyd Roland on Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
In the Legislative Assembly on October 27th, 2006. See this statement in context.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
October 26th, 2006
Page 554
See context to find out what was said next.