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Politics : Canadian Political Free-for-All -- Ignore unavailable to you. Want to Upgrade?

To: Ichy Smith who wrote (10845)	11/5/2006 9:25:04 AM
From: wherry	Read Replies (1) \| Respond to of 37804

<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.

To: Ichy Smith who wrote (10845)	11/5/2006 9:56:05 AM
From: DeplorableIrredeemableRedneck	Read Replies (1) \| Respond to of 37804

Being over weight in any investment is asking for trouble. There are many high income, tax efficient investments in Canada that do not hold income trusts or rather, have a balanced approach to holding income trusts and are not mandated to hold them as the market warrants. I empathize with these folk that blindly place their trust in anyone and have paid the price. The real culprits here are those that gave the advice to put all their eggs in one basket. I for one kept my IT positions very small after the debacle with the Lieberals last September 19th. Even though the Conservatives said that they would not touch income trusts I felt it was prudent rebalance my portfolios and have been rewarded.