Hon. J. J. McCann (Minister of National Revenue):
Mr. Speaker, on March 28, 1950, I advised hon. members that there had been representations regarding the regulations covering depreciation, particularly as to some of the rates, and the limitation of the allowance for corporations to the amounts charged in their financial statements.
I promised that careful consideration would be given to these matters, and that the government's decision would be announced in due course. I am now glad to be able to advise hon. members that certain revisions have been made in the regulations, particularly in regulation 1100(4), and that these changes, which were effected by order in council, P.C. 2576 of May 23, 1950, have been published in the Canada Gazette of June 14, 1950, part II, Statutory Orders and Regulations.
I now wish to table a copy of the statutory orders and regulations that contain the changes.
Subtopic: INCOME TAX