FINA Committee Meeting

The Standing Committee on Finance met at 10:07 a.m. this day, in Room 701 La Promenade Building, the Chair, Massimo Pacetti, presiding.

The Committee commenced its clause-by-clause study of the Bill.

Geoff Trueman made a statement and answered questions.

The Chair called Clause 1.

On Clause 1,

“1. Section 5 of Schedule I to the Excise Tax Act is replaced by the following:”

5. Clocks adapted to household or personal use, except those specially designed for the use of the blind, ten per cent of the amount by which the sale price or duty paid value exceeds fifty dollars.”

Debate arose thereon.

After debate, the question was put on the amendment of Charlie Penson and it was agreed to, by a show of hands: YEAS: 6; NAYS: 5.

Clause 1, as amended, carried.

The Preamble carried on division.

The Title carried on division.

The question: "Shall the Bill, as amended, carry?" was put and was agreed to on the following recorded division: YEAS: Rona Ambrose, Guy Côté, Yvan Loubier, Brian Pallister, Charlie Penson, Monte Solberg — 6; NAYS: Don H. Bell, Charles Hubbard, Maria Minna, Paul Szabo, Judy Wasylycia-Leis — 5.

ORDERED, — That the Vice-Chair Charlie Penson report the Bill, as amended, to the House.

The Committee commenced its study on the motion of Yvan Loubier (Estimate the turning point for the tax on tobacco, with the double goal of combating tobacco use and increasing tax revenues).

Pursuant to the motion on 48 hour notice of motion agreed to on Tuesday, October 12, 2004:

It was agreed, — That the Standing Committee on Finance recommend: 1. That the Department of Finance, in conjunction with the Department of Health, estimate the turning point for the tax rate on tobacco, with the double goal of combating tobacco use and increasing tax revenues; that this study be tabled jointly before the Standing Committee on Finance and the Standing Committee on Health by October 30, 2005; and that the Committee report and make recommendations to the House of Commons.

The Committee commenced its study on the motion of Yvan Loubier (Tax treaty with Barbados).

Pursuant to the motion on 48 hour notice of motion agreed to on Tuesday, October 12, 2004:

Yvan Loubier moved, — That the Standing Committee on Finance, on adoption of a motion regarding the tax treaty with Barbados, schedule one or more televised committee meetings before the House rises for the summer recess;

that the Committee should hear evidence from the following witnesses and any other individuals or groups who request to appear:

- officials from the Department of Finance and the Canada Revenue Agency with expertise in tax treaties, especially with section 30(3) of the Barbados tax treaty and section 5907(11.2)(c) of the Income Tax Regulations;

- members of the board of directors of Canada Steamship Lines;

- members of the board of directors of CSL International;

- representatives of the Office of the Auditor General of Canada;

- representatives of ATTAC;

- André Lareau, tax lawyer;

- Guylaine Leclerc, forensic accountant; and

- Brigitte Alepin, tax expert.

and that the Committee report and make recommendations to the House of Commons.

After debate, the question was put on the motion and it was agreed to on the following recorded division: YEAS: Rona Ambrose, Guy Côté, Yvan Loubier, Brian Pallister, Charlie Penson, Monte Solberg — 6; NAYS: Maria Minna, Paul Szabo, Judy Wasylycia-Leis — 3.

At 11:33 a.m., the Committee adjourned to the call of the Chair.