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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (9920)	10/19/2005 12:25:44 AM
From: LTBH	Read Replies (1) \| Respond to of 11633

Cat or if IIRC, a cuddly .... Am sure you are aware that the "50%" issue was conveniently overlooked for years and a number of trusts had to really scramble when it appeared to rear its head not that long ago. Some were way over 50% foreign ownership and apparently none of them had been tracking ownership. And to the best of my knowledge this issue still has not been directly met head on by your gov and a number of the bigger O&G trusts have repeatedly announced in print that they are LEGALLY able to have more than 50% foreign ownership and still maintain trust status. I have no idea as to the correctness of this claim, only that its been made by several and that the Cdn gov has avoided any direct address of the issue. But the ownership issue really does not matter as it has no bearing on the unilateral steps taken by the Cdn government nor the probable eventual retaliation by the US and other governments nor the fact that the real losers will be the effected retirees for all countries. I made my total exit from these instruments fall 04/spring of 05 when the writing on the wall was clear so I no longer have any skin in this game and currently if I were to consider taking a new position, Cdn Trusts cannot compete with the yields of home grown investments. I speak on this topic from my perception of fairness, fair play and the lack of process that was employed. From a different angle, my limited world experience has shown that when one feels they are in the "right", they proceed openly, vocally and according to process ... however when the individual believes they are wrong, they utilize a sneak attack in silence and darkness. This is just a different way to evaluate the Cdn with holding on US retirement accounts but leads to the same conclusions. The process I speak to is that of requesting a meeting with the US State Dept and other appropriates to discuss and renegotiate the current prevailing International Tax Treaty to which Canada and the US are parties. Of course it should go without saying that said meeting is appropriate BEFORE any action would be taken but its my understanding Treasury and State are still awaiting a response for a US requested meeting which was made AFTER US retirement accounts began having Canadian WH. And please forgive this post as I truly do not wish to get drawn into a debate whose outcome will solve nothing and will only serve to increase a blood pressure that already is medicated. LTBH