This is page numbers 5151 - 5186 of the Hansard for the 19th Assembly, 2nd 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 know.

Topics

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

Kevin O'Reilly

Kevin O'Reilly Frame Lake

Thanks, Madam Chair. So the other matter that I raised was clearly going back in time now several years for some of these provisions. I just want to get the Minister on record that we didn't actually lose any revenues as a result of these delays or changes or whatever. Thanks, Madam Chair.

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

The Chair

The Chair Lesa Semmler

Thank you, Member. Minister of Finance.

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

Caroline Wawzonek

Caroline Wawzonek Yellowknife South

Thank you, Madam Chair. No, there's no lost revenues on that. Thank you.

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

The Chair

The Chair Lesa Semmler

Thank you. Member for Frame Lake.

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

Kevin O'Reilly

Kevin O'Reilly Frame Lake

Okay, thanks, Madam Chair. And I understand that one of the provisions of this bill are to allow for greater information sharing between the -- I think it's the Canada Revenue Agency and our government, and maybe that sort of goes both ways. But committee has raised the issue of trying to understand and get, you know, precise figures for a number of tax credits that we have, like for political contributions and so on. And because I guess in the interest of transparency and accountability, it would be nice to be able to put dollar figures on the value of the lost revenues associated with some of these tax credits.

So, can the Minister confirm, with these new information sharing provisions, that we can now get information from the Canada Revenue Agency on the value of these tax credits? Thanks, Madam Chair.

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

The Chair

The Chair Lesa Semmler

Thank you, Member. Minister.

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

Caroline Wawzonek

Caroline Wawzonek Yellowknife South

Thank you, Madam Chair. So, Madam Chair, I can say that refundable tax credits do show up in the public accounts but something that is a non-refundable credit may not be the same. Obviously, we'll certainly do our best to try to make better use of the information sharing provisions. But, I mean, if there are specific elements of tax credits or specific tax provisions that the Member's interested in getting information on, you know, if we can get that, again, I'm happy to try to distill that data as much as possible. This, theoretically, is supposed to help with that data collection from the federal side and they do administer, on our behalf, a lot through the Canada Revenue Agency. So, again, hopefully this will indeed answer that, but if there's specific elements of credits that the Member's looking for, that would be helpful to know. Thank you.

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

The Chair

The Chair Lesa Semmler

Thank you, Minister. Member for Frame Lake.

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

Kevin O'Reilly

Kevin O'Reilly Frame Lake

Thanks, Madam Chair. Yeah, it's not so much "me" -- I might have some interest -- but I'd understood committee was interested in getting some calculations or, you know, the value of the lost revenues to this government from things like political contributions as a tax credit. So I'm going to leave this to committee, but I think there's a commitment from the Minister there to ask Canada Revenue Agency for that information if committee wants it. And probably in the interest of full disclosure, that kind of information should start to appear in the full accounts in a more transparent and fuller fashion. Thanks, Madam Chair. That's all I have.

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

The Chair

The Chair Lesa Semmler

Minister of Finance.

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

Caroline Wawzonek

Caroline Wawzonek Yellowknife South

Thank you, Madam Chair. Yes, Madam Chair, I'm happy to try to get that data. And, again, just having briefly a conversation here with the director of fiscal policies, that that may be difficult to determine just what the amount of lost revenues are, are sort of anecdotal. The expectation is that it's not likely a significant value nonetheless -- and again, I mean, if it's across every type of tax credit, yes, we would need to just go back and look at exactly what kinds of credits we're talking about and what kind of lost revenue we're talking about. But, again, we'll go and have a look and we'll see if we can get some information. Thank you.

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

The Chair

The Chair Lesa Semmler

Thank you. General comments? Does the committee agree that there are no further general comments?

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

Some Hon. Members

Agreed.

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

The Chair

The Chair Lesa Semmler

Can we proceed to a clause by clause review of the bill?

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

Some Hon. Members

Agreed.

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

The Chair

The Chair Lesa Semmler

Committee, we will defer the bill number and title until after consideration of the clauses. I will call the clauses in groups.

Please turn to page 1 of the bill. Clause 1 to 5, does committee agree?

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

Some Hon. Members

Agreed.

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

The Chair

The Chair Lesa Semmler

Clause 6 to 10, does committee agree?

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

Some Hon. Members

Agreed.

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

The Chair

The Chair Lesa Semmler

Clause 11 to 13, does committee agree?

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

Some Hon. Members

Agreed.

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

The Chair

The Chair Lesa Semmler

Committee, to the bill as a whole, does committee agree that Bill 62, An Act to Amend the Income Tax Act, is now ready for third reading?

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

Some Hon. Members

Agreed.

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

The Chair

The Chair Lesa Semmler

Thank you, committee. Does the committee agree that this concludes our consideration of Bill 62, An Act to Amend the Income Tax Act?

Consideration In Committee Of The Whole Of Bills And Other Matters
Consideration In Committee Of The Whole Of Bills And Other Matters

Page 5162

Some Hon. Members

Agreed.