Thank you, Mr. Chairman. Mr. Chairman, I guess the tax environment we operate under isn't one that changes from day to day in a sense of how filings are done and reporting times and so on. The sequence of how we did things, and the Member is right; our first budget laid out the tax changes, we went from 12 percent to 14 percent, and that was in March of '04. The formula change occurred in October of '04. Filing deadline for the 2004 taxes came on June '05, and our reporting arrangement and notice we received from the Canadian Revenue Agency was in October '05. At that point is when we began to look at our fiscal picture and made a decision that we needed to make this change. That's why now the first available opportunity at this budget session is to come and lower the tax rates to make the correction we feel is needed at this time. Thank you.
Floyd Roland on Item 16: Consideration In Committee Of The Whole Of Bills And Other Matters
In the Legislative Assembly on February 28th, 2006. See this statement in context.
Item 16: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 16: Consideration In Committee Of The Whole Of Bills And Other Matters
February 27th, 2006
Page 1450
See context to find out what was said next.