Proceedings of the Standing Senate Committee on
National Finance

Issue No. 42 - Minutes of Proceedings - October 25, 2017 (Afternoon Meeting)

OTTAWA, Wednesday, October 25, 2017
(105)

[Translation]

The Standing Senate Committee on National Finance met this day at 2:16 p.m., in room 106-S, Centre Block, the chair, the Honourable Percy Mockler, presiding.

Members of the committee present: The Honourable Senators Andreychuk, Black, Cools, Eaton, Forest, Marshall, Mockler, Moncion, Neufeld, Oh and Pratte (11).

In attendance: Alex Smith and Sylvain Fleury, Analysts, Parliamentary Information and Research Service, Library of Parliament.

Also present: The official reporters of the Senate.

Pursuant to the order of reference adopted by the Senate on Tuesday, September 26, 2017, the committee continued its study on the Minister of Finance's proposed changes to the Income Tax Act respecting the taxation of private corporations and the tax planning strategies involved. (For complete text of the order of reference, see proceedings of the committee, Issue No. 39.)

WITNESSES:

As individuals:

Robert G. Kepes, President and Chief Executive Officer, Tensor Machinery Limited;

Alan Acton, Vice-President and Portfolio Manager, Polaris Financial Inc;

Robert A. Dyke, President, Dyke & Murphy Professional Corporation;

Valentin Erikson, Real Estate Tax Lawyer, Erikson Law Firm Professional Corporation;

Joanne Sirois, President, Assurances Sirois Insurance Inc;

Laurent Proulx, Chief Executive Officer, Groupe Le Canadien;

Robert Boudreau, President, Robert Excavating.

Messrs. Kepes, Acton, Dyke and Erikson each made a statement and answered questions.

At 3:25 p.m., the committee suspended.

At 3:28 p.m., the committee resumed.

Ms. Sirois, Mr. Proulx and Mr. Boudreau each made a statement. Ms. Sirois and Mr. Proulx answered questions.

At 4:04 p.m., the committee adjourned to the call of the chair.

ATTEST:

Gaëtane Lemay
Clerk of the Committee