Canadian Political Free-for-All Message Board

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Politics : Canadian Political Free-for-All

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To: Ichy Smith who wrote (10845)	11/5/2006 9:25:04 AM
From: wherry	Read Replies (1) of 37812

<Many conservative Seniors invested in them because the Conservatives told them the Income Trusts would not be touched. They could have grandfathered the present Trusts or done something to protect the wealth of the Seniors many of whom earned their money, unlike Canadian Politicians.> Right on! It is the broken election promise that is the key thing. The only Canadians to suffer on income account are those who hold trusts in their tax sheltered savings accounts (RRSP, RRIF etc.). We cannot claim the dividend tax credit, so that we lose on capital now with the trust market meltdown, and in 2011 with the new 31% trust distribution tax. Being kind, it has to be one of the most clumsy introductions of a new tax in recent Canadian politics, and the welcome tax reductions via income splitting etc., while a help, do not make up for it. Tony.

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