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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Keith Feral who wrote (185709)	11/8/2006 3:51:55 PM
From: Ichy Smith	Read Replies (1) \| Respond to of 793846

Thanks for the input. It baffles my imagination that Canada has let these trusts grow their tax free status for so long They weren't tax free, and because it was mostly seniors the government was doing very well on the deal. The government claws back pension as Seniors income goes up, and taxes the income itself. It is a sweet deal for the government. It was the specter of all Canadian business going into income trusts that spooked them, of course no one thought of that when they made them legal. I think the Government is concerned about Canadian tax free day ending up in July, the natives may get restless when they are told that they work longer for the government than for themselves. Right now Canadas Tax free day is in late June.