Proceedings of the Standing Senate Committee on
National Finance

Issue No. 43 - Minutes of Proceedings - October 31, 2017 (morning meeting)

OTTAWA, Tuesday, October 31, 2017
(107)

[Translation]

The Standing Senate Committee on National Finance met this day at 9:32 a.m., in room 9, Victoria Building, the chair, the Honourable Percy Mockler, presiding.

Members of the committee present: The Honourable Senators Andreychuk, Bellemare, Black, Cools, Forest, Jaffer, Marshall, Mockler, Moncion, Oh, Pratte and Unger (12).

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:

Éric Brassard, Partner, Brassard Goulet Yargeau, Integrated Financial Services;

Jack Mintz, President's Fellow, The School of Public Policy, University of Calgary;

Alain Paquet, Full Professor, Department of Economics, Management Sciences School, Université du Québec à Montréal.

Mr. Brassard, Mr. Mintz and Mr. Paquet each made a statement and answered questions.

It was agreed that the document presented by Mr. Paquet entitled Mémo sur des enjeux de fiscalité liés aux transferts d'entreprise, dated January 31, 2013, be filed as an exhibit (Exhibit 1120-1.42/NFFN-SS4-43 "1'').

It was agreed that the document presented by Mr. Paquet entitled Le plan économique du Québec — Renseignements additionnels 2016-2017, dated March 2016, be filed as an exhibit (Exhibit 1120-1.42/NFFN-SS4-43 "2'').

It was agreed that the Quebec Ministry of Finance Information Bulletin 2017-3, presented by Mr. Paquet and entitled Mesures fiscales annoncées à l'occasion du dépôt du Plan d'action gouvernemental favorisant une économie de dirigeants, dated February 21, be filed as an exhibit (Exhibit 1120-1.42/NFFN-SS4-43 "3'').

It was agreed that the article presented by Mr. Paquet entitled "Les enjeux d'efficience et la fiscalité'', dated September 2017, be filed as an exhibit (Exhibit 1120-1.42/NFFN-SS4-43 "4'').

At 11:32, the committee adjourned to the call of the chair.

ATTEST:

Gaëtane Lemay

Clerk of the Committee