March 19, 1956

FERRY "BLUENOSE"


On the orders of the day:


LIB

George Carlyle Marler (Minister of Transport)

Liberal

Hon. George C. Marler (Minister of Transport):

Mr. Speaker, in answer to questions by the hon. member for Shelburne-Yarmouth-Clare and the hon. member for Digby-Annapolis-Kings regarding the Blue-nose, I said I would keep the house informed as to resumption of service. I am glad to be able to say that the Bluenose resumed service from Yarmouth today.

Topic:   TRANSPORT
Subtopic:   FERRY "BLUENOSE"
Sub-subtopic:   RESUMPTION OF SERVICE
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AIR TRANSPORT

REPORTED BANNING OF JET AIRCRAFT FROM SPACE USED BY ORDINARY AIR TRAFFIC


On the orders of the day:


LIB

George Carlyle Marler (Minister of Transport)

Liberal

Hon. George C. Marler (Minister of Transport):

While I am on my feet, Mr. Speaker, I should like also to reply to a question asked by the hon. member for York West (Mr. Hamilton). On Friday he asked whether I could inform the house "whether jet aircraft on speed runs have been banned from the air space used by regular traffic, as reported in the press yesterday". The reply is that the Department of Transport has taken no such action.

Topic:   AIR TRANSPORT
Subtopic:   REPORTED BANNING OF JET AIRCRAFT FROM SPACE USED BY ORDINARY AIR TRAFFIC
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INCOME TAX

REQUEST FOR PROVISION OF DIFFERENT FORM


On the orders of the day:


LIB

James Joseph McCann (Minister of National Revenue)

Liberal

Hon. J. J. McCann (Minister of National Revenue):

Mr. Speaker, some time ago the hon. member for Winnipeg North Centre (Mr. Knowles) asked a question with reference to elections under section 36 (1) of the Income

Inquiries of the Ministry Tax Act. It is the opinion that a special form to be provided by the tax division would not be warranted. We do feel that some reference to the alternative methods for the taxation of these lump sum payments should be indicated on the T.4 summary and supplementary, to advise employers and employees of the provisions of this section. This matter will be attended to in drafting the forms for the coming year.

The 1955 edition of the employee's income tax guide contains a paragraph wherein it is stated that:

If you received a lump sum payment out of a pension fund during the year, the amounts must be included in your income for the year but may be subjected to a reduced rate of tax. For further information on this point, inquire at your district taxation office.

In addition to this note, assessors are directed to assess the taxpayer at the rates most beneficial to him when such a lump sum payment is included in income. This is done whether or not the taxpayer has elected to be taxed under the provisions of section 36 (1). That means that it may be spread over a period of three years at the effective rates.

Topic:   INCOME TAX
Subtopic:   REQUEST FOR PROVISION OF DIFFERENT FORM
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GAINS ARISING FROM PURCHASE OF SHARES AT LESS THAN MARKET PRICE


On the orders of the day:


CCF

Stanley Howard Knowles (Whip of the Co-operative Commonwealth Federation)

Co-operative Commonwealth Federation (C.C.F.)

Mr. Stanley Knowles (Winnipeg North Centre):

Mr. Speaker, I wish to direct a question to the Minister of Finance. Are the gains taxable that arise when a company gives a shareholder the right to purchase additional shares at less than the market price? If not, is the government considering taxing such gains?

Topic:   GAINS ARISING FROM PURCHASE OF SHARES AT LESS THAN MARKET PRICE
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LIB

Walter Edward Harris (Minister of Finance and Receiver General; Leader of the Government in the House of Commons; Liberal Party House Leader)

Liberal

Hon. W. E. Harris (Minister of Finance):

This is the type of question that I shall be glad to discuss on my estimates or in the budget debate.

Topic:   GAINS ARISING FROM PURCHASE OF SHARES AT LESS THAN MARKET PRICE
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NATIONAL DEFENCE

INQUIRY AS TO FIRE AT R.C.A.F. HANGAR


On the orders of the day:


PC

Gordon Knapman Fraser

Progressive Conservative

Mr. G. K. Fraser (Peterborough):

Mr. Speaker, I should like to address a question to the parliamentary assistant to the Minister of National Defence. Can he say what caused the fire in the Royal Canadian Air Force hangar at Dorval this morning and what the total loss is estimated to be?

Topic:   NATIONAL DEFENCE
Subtopic:   INQUIRY AS TO FIRE AT R.C.A.F. HANGAR
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LIB

Paul Theodore Hellyer (Parliamentary Assistant to the Minister of National Defence)

Liberal

Mr. P. T. Hellyer (Parliamentary Assistant to the Minister of National Defence):

Mr. Speaker, preliminary reports indicate that the fire started in a section of the building where stores were kept. It will undoubtedly require a full investigation. The R.C.A.F. fire

marshal and the one from the Department of Transport are already there looking into the matter.

Topic:   NATIONAL DEFENCE
Subtopic:   INQUIRY AS TO FIRE AT R.C.A.F. HANGAR
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March 19, 1956