Thank you. Clause 7, Mr. Beaulieu.
Thank you, Mr. Chairman. I have a question for the Minister. I am wondering why at this point, in market communities at this point, the market has gone down a bit. I think in Yellowknife you can witness that. There are the properties that were, they were trying to sell some properties. You just look at all the realtors' sites and there has been a huge drop in the market. In Yellowknife, there has been a drop in the market, a significant drop in the market, which, of course, affects everything. The market value of people's properties gives them the ability to borrow, gives them the ability to participate in the economy. Just as the market is kind of going down and has been going down for a couple of years, a few years, I would say, this additional tax is added to it.
I would like to ask the Minister, he wasn't the Minister, I think, when things were going up sharply: what type of advice did he get from the government at this point to put this type of fee in just when the market is on a downturn? Thank you.
Thank you. Minister.
Of course, if the value of your house is a lower amount, then the fees are lower, too. A fee on a $300,000 house is higher than it would be on a $250,000 house. If you bought at $300,000 and paid a fee then and then someone else buys the house or you buy another house at $250,000, you are going to pay less than you would have. The point is the fees are based on the value of the property or the size of the mortgage. If the market is in decline, we will be collecting fewer fees. Thank you.
Thank you. Mr. Beaulieu.
Thank you, Mr. Chairman. This also applies to a refinancing. Now, if you are not switching houses, but the market value of your house is down, now in addition to having less ability to take money out of the market, there is this fee. I was wondering if the Minister has looked at the frequency of that type of transaction as opposed to just looking at the buy-and-sell transaction where many people go to use their houses for equity in order to purchase other things, buy other things around that are needed, that may not be, or even maybe renovating their own homes. When the unit is refinanced, there is a fee paid in there. What type of impact is that having directly on the people who are refinancing their homes?
Thank you. Minister.
Thank you for the question. I really don't have that kind of information in front of me. All I want to say, though, is that the way that these fees are set up, if you were remortgaging at $300,000, you will pay a certain fee. If you are remortgaging at $250,000, you will pay a smaller fee. That is how the system is set up. Again, I don't have the kind of information that the Member is asking me about as to the number of these types of transactions and so on. I simply don't have that information. Thank you, Mr. Chair.
Thank you. Next, we have Ms. Green, clause 7.
Thank you, Mr. Chair. I find it a bit rich that my colleagues are here now excoriating the Minister for phasing in this fee increase when that was the agreement that we came to. On a $500,000 house, the increase after three years would be $350 on the land transfer. The person buying the $500,000 house would be spending an extra $350. It is my argument that if someone can afford $500,000 dollars for a house, they can afford an additional $350 for the land transfer tax.
Further, I don't want my colleagues to lose sight of the fact that this is an omnibus bill. If it is rejected, we lose the opportunity to help small landlords recover their costs, and we also lose the opportunity to give parents who are receiving child support the opportunity for a more efficient way to receive recalculation services. I would ask my colleagues to think very carefully about putting their own self-interests ahead of the interests of the people of the NWT. Thank you.
---Applause
Turned into a real socialist Assembly. I'll just clarify the record that a clause can be defeated. It doesn't mean the bill is defeated. It just means the clause is removed. If the nay votes take this vote, the clause is removed, but the bill is not defeated just to clarify that for the record. Anything further? Mr. Testart, you already spoke to this. Do you have another issue? Mr. Testart.
Thank you, Mr. Chair. I would request a division on clause 7 and that the vote be recorded. Thank you.
Recorded Vote
The Member for Nahendeh, the Member for Frame Lake, the Member for Yellowknife Centre, the Member for Deh Cho, the Member for Inuvik Boot Lake, the Member for Range Lake, the Member for Great Slave, the Member for Yellowknife South, the Member for Inuvik Twin Lakes, the Member for Hay River South, the Member for Thebacha, the Member for Sahtu.
All those opposed to Clause 7, please rise.
The Member for Kam Lake, the Member for Tu Nedhe-Wiilideh, the Member for Yellowknife North.
All those abstaining, please rise. The results of the recorded vote: 12 in favour, three opposed. Clause 7 stands.
---Carried
Clause 8.
---Clauses 8 through 11 inclusive approved
Committee, I will return to the bill title and number. Bill 58: Justice Administration Statutes Amendment Act. Does committee agree?
Agreed.
Thank you, committee. To the bill as a whole, does committee agree that Bill 58: Justice Administration Statutes Amendment Act is ready for a third reading?
Agreed.
Thank you, committee. Bill 58 is ready for third reading. Does committee agree this concludes our consideration of Bill 58?
Agreed.
Thank you, committee. Thank you to the Minister and to the witnesses. Sergeant-at-Arms, you may escort the witnesses from the Chamber. What is the wish of committee? Mr. Testart.
Thank you, Mr. Chair. I move the chair rise and report progress. Thank you.
There is a motion to report progress. The motion is in order and non-debatable. All those in favour? I need at least one person to vote. All those in favour of the motion to rise and report progress? All those opposed? The motion is carried. I will rise and report progress. Thank you, committee.
Mr. Speaker, your committee has been considering Committee Report 20-18(3), Report on the Review of the 2017-2018 Northwest Territories Human Rights Commission Annual Report; Committee Report 21-18(3), Report on the Review of the 2016-2017 and 2017-2018 Annual Reports of the Information and Privacy Commissioner of the Northwest Territories; Committee Report 22-18(3), Report on the Review of the 2015-2016 and 2016-2017 Annual Reports of the Office of the Languages Commissioner of the Northwest Territories; Committee Report 23-18(3), Report on the Review of Bill 40: Smoking Control and Reduction Act and Bill 41: Tobacco and Vapour Products Control Act; Bill 40, Smoking Control and Reduction Act; Bill 41, Tobacco and Vapour Products Control Act; Bill 54, Standard Interest Rates Statutes Amendment Act; and Bill 57, An Act to Amend the Employment Standards Act, and would like to report that Committee Report 20-18(3) is concluded; that Committee Report 21-18(3) is concluded; that Committee Report 23-18(3) is concluded, with five motions adopted; that Bill 40 is ready for third reading; that Bill 41 is ready for third reading; that Bill 54 is ready for third reading; that Bill 57 is ready for third reading; and that Bill 58 is ready for third reading. Mr. Speaker, I move that the report of the Committee of the Whole be concurred with.
Masi. Do I have a seconder? Member for Deh Cho. The motion is in order. All those in favour? All those opposed? The motion is carried.
---Carried
Orders of the day for Tuesday, August 13, 2019, 1:30 p.m.:
Prayer
Ministers' Statements
Members' Statements
Reports of Standing and Special Committees
Returns to Oral Questions
Recognition of Visitors in the Gallery
Acknowledgements
Oral Questions
Written Questions
Returns to Written Questions
Replies to the Commissioner's Opening Address
Petitions
Reports of Committees on the Review of Bills
Tabling of Documents
Notices of Motion
Notices of Motion for First Reading of Bills
Motions
First Reading of Bills
Second Reading of Bills
Consideration in Committee of the Whole of Bills and Other Matters
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Minister's Statement 151-18(3), New Federal Infrastructure Agreement
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Minister's Statement 158-18(3), Developments in Early Childhood Programs and Services
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Minister's Statement 211-18(3), Addressing the Caribou Crisis
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Tabled Document 442-18(3), 2030 NWT Climate Change Strategic Framework 2019-2023 Action Plan
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Bill 36, An Act to Amend the Petroleum Resources Act
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Bill 37, An Act to Amend the Oil and Gas Operations Act
Report of Committee of the Whole
Third Reading of Bills
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Bill 40, Smoking Control and Reduction Act
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Bill 41, Tobacco and Vapour Products Control Act
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Bill 54, Standard Interest Rates Statutes Amendment Act
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Bill 57, An Act to Amend the Employment Standards Act
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Bill 58, Justice Administration Statutes Amendment Act
Orders of the Day
Masi, Mr. Clerk. [Translation] This House stands adjourned until Tuesday, August 13, 2019, at 1:30 p.m.
---ADJOURNMENT
The House adjourned at 7:24 p.m.
