Thank you, Mr. Chair. Personal income tax and corporate income tax, by their nature, are volatile. The reason we had the bump in 2012-13 to the revised estimates is we had, in particular with corporate income tax, a couple of companies that filed for previous years and restated their taxes over and above the estimate that Canada provides us. Companies can go back and file taxes for up to seven years. We had a couple of large companies do that this past year, which is the main reason for the increase in the taxes. When we try to project what is going to happen further, we take some guidance from Canada but also what is going on in the territory. If we discount those companies that re-filed, then we are just projecting a modest increase over what we had projected at the beginning of last year. Thank you.
Mr. Aumond on Consideration in Committee of the Whole on Bills and Other Matters
In the Legislative Assembly on March 7th, 2013. See this statement in context.
Consideration in Committee of the Whole on Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
March 6th, 2013
Aumond
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