Right Hon. W. L. MACKENZIE KING (Prime Minister) (for the Minister of Finance) moved that the House go into committee this day to consider the following proposed resolution:
Resolved, That it is expedient to amend subsection three of section 13 of The Business Profits War Tax Act, 1916, and to remove the restriction of the said subsection by which the liability to pay the tax imposed continues for the period of only three years and by which the Minister is permitted at any time within three years only to assess such person for the tax, and to provide that the Act shall be construed as if the said restriction had never been contained therein.
He said: His Excellency the Governor General has been informed of the subject matter of this resolution, and recommends it to the favourable consideration of the House.
Sir Henry Drayton: I assume that what
is being done here is a rather circuitous method of extending the operation of the business profits tax until the collections are all made. The act was a temporary measure, and I assume that the legislation will be extended so that all collections can be made.