Madam Speaker, the combined response to parts (a), (b), (c), (d), and (e) is as follows. The eight tax measures, and the actions that have been taken to phase out or rationalize them, are listed below. For most of the measures, an estimate of cost savings was provided when the phase-out or rationalization was announced in the budget. For reference, these estimates are summarized below. However, these estimates are not up-to-date and have a number of limitations.

First is the phase-out of the accelerated capital cost allowance for the oil sands from budget 2007, completed in 2015. No costing information was included in the budget for the period affected by the phase-out. See page 374 of the budget plan 2007, http://www.budget.gc.ca/2007/pdf/bp2007e.pdf).

Second is the reduction in the deduction rates for intangible capital expenses in oil sands projects to align with rates in conventional oil and gas sector from budget 2011, completed in 2016. It was estimated that this would result in cost savings of $220 million from 2011-12 to 2015-16. See page 263 of the budget plan 2011, http://www.budget.gc.ca/2011/plan/Budget2011-eng.pdf).

Third is the phase-out of the Atlantic investment tax credit for investments in the oil and gas and mining sectors from budget 2012, completed in 2017. It was estimated that this would result in cost savings of $135 million from 2014-15 to 2016-17. See page 380 of the budget plan 2012, http://www.budget.gc.ca/2012/plan/pdf/Plan2012-eng.pdf).

Fourth is the reduction in the deduction rate for pre-production intangible mine development expenses, including coal mining, to align with the rate for the oil and gas sector from budget 2013, completed in 2018. It was estimated that this would result in cost savings of $45 million from 2015-16 to 2017-18. See page 331 of the budget plan 2013, http://www.budget.gc.ca/2013/doc/plan/budget2013-eng.pdf).

Fifth is the phase-out of the accelerated capital cost allowance for mining, including coal mining from budget 2013, to be completed in 2021. It was estimated that this would result in cost savings of $10 million in 2017-18. See page 331 of the budget plan 2013, http://www.budget.gc.ca/2013/doc/plan/budget2013-eng.pdf).

Sixth is allowing the accelerated capital cost allowance for liquefied natural gas facilities to expire as scheduled in 2025 from budget 2016. No costing information was included in the budget for the phase out of this measure. However, when the measure was introduced in budget 2015, the cost was estimated as $45 million over the 2015-16 to 2019-20 period. See page 210 of the budget plan 2015, https://www.budget.gc.ca/2015/docs/plan/budget2015-eng.pdf).

Seventh is the rationalization of the tax treatment of expenses for successful oil and gas exploratory drilling from budget 2017, to be completed by 2021. It was estimated that this would result in cost savings of $145 million from 2019-20 to 2021-22. See page 6 of the tax measures supplement, http://www.budget.gc.ca/2017/docs/tm-mf/tax-measures-mesures-fiscales-2017-en.pdf).

Eighth is the phase-out of the tax preference that allows small oil and gas companies to reclassify certain development expenses as more favorably treated exploration expenses from budget 2017, to be completed in 2020. It was estimated that this would result in cost savings of $5 million from 2019-20 to 2021-22. See page 6 of the tax measures supplement, http://www.budget.gc.ca/2017/docs/tm-mf/tax-measures-mesures-fiscales-2017-en.pdf).

The department provided the above estimates of cost savings over the budget horizon at the time the phase-out or rationalization of each measure was announced. Once an announcement has been made, the department does not continue to update or track the resulting cost savings. As such, the cost savings amounts listed above are indicative only and actual savings may be different. The amounts should not be added up, as this would not accurately represent total cost savings.

Joël Lightbound

$487,595.00