Speech (committee meeting)

{
    "time": "2013-05-28 10:15:00",
    "attribution": {
        "en": "Mr. Gregory Smart (Expert Advisor, GST Legislation, Department of Finance)",
        "fr": "M. Gregory Smart (expert-conseil, L\u00e9gislation sur la TPS, minist\u00e8re des Finances)"
    },
    "content": {
        "en": "<p data-HoCid=\"3373449\" data-originallang=\"en\">Clause 43 adds new section 157 to the Excise Tax Act to simplify compliance in respect of transactions between an employer and a pension plan trust in the case where an employer performs activities in relation to a registered pension plan of employees of the employer. New section 157 allows a participating employer of a registered pension plan to jointly elect with a pension plan trust to treat any actual taxable supplies by the employer to the pension plan trust as being made for no consideration, meaning that no tax applies to these actual supplies. Instead, there's a deemed supply between the employer and the pension plan trust and taxes collected and remitted just on this deemed supply.</p>\n<p data-HoCid=\"3373450\" data-originallang=\"en\">Clause 44 also deals with the GST/HST pension plan rules, and it's also a simplifying measure. This is an amendment to address concerns with the complexity and cost of complying with the pension plan deemed taxable supply rules. In particular, employers have expressed concerns that where only a small amount of tax is at stake, these rules are difficult to comply with. Clause 44 proposes a measure that allows an employer participating in a registered pension plan to be fully or partially relieved from accounting for tax under the pension plan deemed taxable supply rules if the employer's pension plan-related activities fall below certain thresholds. An employer would be relieved from applying the deemed taxable supply rules for a fiscal year of the employer where the amount of GST that the employer is required to account for and remit under the deemed taxable supply rules in the preceding fiscal year of the employer is less than both $5,000 and 10% of the total GST paid by the pension plan trust in the preceding fiscal year.</p>\n<p data-HoCid=\"3373451\" data-originallang=\"en\">Clause 45 deals with GST/HST business information requirements.</p>\n<p data-HoCid=\"3373452\" data-originallang=\"en\">Carlos.</p>",
        "fr": "<p data-HoCid=\"3373449\" data-originallang=\"en\">L'article 43 ajoute l'article 157 \u00e0 la Loi sur la taxe d'accise pour simplifier l'observation des r\u00e8gles par les employeurs en ce qui concerne les transactions entre l'employeur et l'entit\u00e9 de gestion du r\u00e9gime de retraite, dans les cas o\u00f9 l'employeur participe au r\u00e9gime enregistr\u00e9 de pension de ses employ\u00e9s. Le nouvel article 157 permet \u00e0 un employeur participant \u00e0 un r\u00e9gime de pension de choisir conjointement avec une entit\u00e9 de gestion du r\u00e9gime de traiter toute fourniture taxable qu'il effectue au profit de l'entit\u00e9 comme \u00e9tant effectu\u00e9e sans contrepartie, ce qui fait qu'aucune taxe ne s'applique aux fournitures en question. On pr\u00e9sume plut\u00f4t qu'il y a eu fourniture entre l'employeur et l'entit\u00e9 de gestion et que les taxes ont \u00e9t\u00e9 per\u00e7ues et pay\u00e9es sur la fourniture en question.</p>\n<p data-HoCid=\"3373450\" data-originallang=\"en\">L'article 44 traite aussi des r\u00e8gles de TPS et de TVH touchant les r\u00e9gimes de pension, et il s'agit aussi d'une mesure visant \u00e0 simplifier les choses. Cette modification r\u00e9pond aux pr\u00e9occupations exprim\u00e9es concernant la complexit\u00e9 du respect des r\u00e8gles touchant les fournitures taxables r\u00e9put\u00e9es. Plus particuli\u00e8rement, les employeurs s'inqui\u00e9taient de ce que les r\u00e8gles \u00e9taient difficiles \u00e0 respecter quand il n'y avait qu'un petit montant de taxe. L'article 44 propose une mesure qui permet \u00e0 l'employeur participant \u00e0 un r\u00e9gime de pension enregistr\u00e9 d'\u00eatre d\u00e9gag\u00e9 de la comptabilit\u00e9 des taxes en vertu des r\u00e8gles sur les fournitures taxables r\u00e9put\u00e9es si les activit\u00e9s li\u00e9es au r\u00e9gime de pension de l'employeur sont inf\u00e9rieures \u00e0 des seuils donn\u00e9s. Un employeur peut \u00eatre dispens\u00e9 d'appliquer les r\u00e8gles visant les fournitures taxables r\u00e9put\u00e9es pour un exercice financier de l'employeur pendant lequel le montant de TPS que l'employeur est tenu de comptabiliser et de payer en vertu des r\u00e8gles visant les fournitures taxables r\u00e9put\u00e9es de l'exercice financier pr\u00e9c\u00e9dent de l'employeur est inf\u00e9rieur \u00e0 5 000 $ et \u00e0 10 p. 100 de la TPS totale pay\u00e9e par l'entit\u00e9 de gestion du r\u00e9gime de pension au cours de l'exercice financier pr\u00e9c\u00e9dent.</p>\n<p data-HoCid=\"3373451\" data-originallang=\"en\">L'article 45 porte sur l'information requise au sujet de l'entreprise pour la TPS/TVH.</p>\n<p data-HoCid=\"3373452\" data-originallang=\"en\">Carlos.</p>"
    },
    "url": "/committees/finance/41-1/125/gregory-smart-1/",
    "politician_url": null,
    "politician_membership_url": null,
    "procedural": false,
    "source_id": "8039072",
    "document_url": "/committees/finance/41-1/125/",
    "related": {
        "document_speeches_url": "/speeches/?document=%2Fcommittees%2Ffinance%2F41-1%2F125%2F"
    }
}