At 4:05 p.m., the meeting was suspended.

At 4:17 p.m., the meeting resumed.

It was agreed, — That, with regards to the committee’s future business:

With regard to the provisions of Budget 2024 and the subsequent motion passed by the House of Commons regarding changes to certain provisions regarding the administration of Capital Gains and the provisions related to the taxation of Capital Gains earned by both individuals under the Income Tax Act and corporations (both publicly traded and Canadian Controlled Private Corporations) including but not limited to the increase in the inclusion rate from 50% to 66 2/3's %, the Department of Finance provide the following to the House of Commons Standing Committee of Finance on or before November 1st, 2024: A detailed written 'economic impact study' on the implementation of the aforesaid changes including:

1. An estimate of the anticipated new tax revenue expected;
2. An analysis of the impact on the equity positions of publicly traded Corporations with a specific focus on the direct impact on share value.

That the committee hold Pre-Budget Consultations for the 2025 Budget, and that:

1. The committee dedicate no fewer than eight meetings to pre-budget consultations and that it reports its findings to the House.
2. The Deputy Prime Minister and Finance Minister and departmental officials be invited to appear before the committee.
3. That these meetings be prioritized with the goal of tabling a Pre-Budget Consultations report by Friday, December 13th 2024.

That the committee hold at least one meeting regarding the recent reports of taxpayers receiving historic write-offs equivalent to $4.9B in 2023-24 and the carousel tax fraud scheme that international criminal networks are using to collect tax refunds for GST/QST and that it invite the Minister of National Revenue and Senior Officials including the Commissioner; and that the Committee study the many problems encountered by the CRA in applying measures involving claims under the Income Tax Act;

That the committee instruct the analysts to draft a report on the financialization of housing for the purposes of tabling a report before the House rises in December;

That the committee instruct the analysts to draft a report on the green financing report for the purposes of tabling a report before the House rises in December;

That the committee agree to hold no fewer than four meetings on its Statutory Review of the Proceeds of Crime and Terrorist Financing Act (Money Laundering) beginning in January 2025.

It was agreed, — That the deadline to invite witnesses for Pre-Budget Consultations be 5:00 p.m. on Monday, October 1, 2024.

It was agreed, — That the committee meet, in an informal meeting, with a delegation of members of the General Council of the Swedish Riksbank (Bank of Sweden) on Thursday, October 3, 2024 from 11:00 a.m to 12:00 p.m. (noon); and that the committee defray the hospitality expenses related to this meeting.