Canadian Income Trusts
Date:
January 1 2008
On October 31, 2006, the Canadian Department of Finance announced its unhappiness with the perceived 'tax leakage' attributable to the large number of existing income trusts as well as the announcements from several large Canadian corporate taxpayers (including Bell Canada) that they were considering converting to income trust structures.
This ultimately led to the introduction of new tax legislation targeted at specified investment flow-through entities (SIFTs).
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