The Canadian Federal government announced on Halloween that income trusts will now be subject to income tax of 34% in line with corporate income taxes in the country. You might remember that many corpo­ra­tions were converting or consid­ering conversion to income trusts to take advantage of the flow-through nature of the structure recently. I argued […]

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I wrote a post about BCE converting from a corpo­ration to an income trust a couple days ago that set off a veritable firestorm of comments from a few readers. It quickly became the most commented on post here, which is pretty cool. So with that in mind I jumped at the chance to blog […]

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A press release by the Canadian Federal government: The Honourable Jim Flaherty, Minister of Finance, will be a guest speaker at the Canadian Institute of Chartered Accoun­tants Tax Symposium on Monday, October 16, 2006. Minister Flaherty will discuss the steps Canada’s New Government is taking to reduce the tax burden and create a more compet­itive tax […]

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Income trusts have dominated business headlines in Canada for the past couple days, ever since one of the oldest corpo­ra­tions in the country announced they were converting to save hundreds of millions in corporate taxes. Income trusts eliminate the double taxation in Canada on business income above the small business limit ($300,000 in 2006). Up […]

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