You Go Jim!!
It's about freakin time somebody spoke up!!
(VIa CBC)
Flaherty imposes new tax on income trusts
and
(Via CTV)
Flaherty plans changes to curb income trusts
Kudos to Finance Minister Jim Flaherty and the Harper government for taking this "BULL" by the horns.
Income trusts are baloney for everyone but the companies that undertake them. It's all about avoiding the Corporate tax man. The devil as always of course will be in the details, which i'm waiting anxiously to see.......but on first glance this is great news.........
Why should pensioners and widows get the short end of the stick so companies like Bell can avoid paying taxes like other Canadians......
**EDIT**
I had been wondering if the Bell and Telus plans would prompt action like this from the feds. Too bad they didn't act sooner before Aliant (Now Bell Aliant) went this route.......
Flaherty's plan gives existing trusts a 4 year grace period......(I think 2 would have been enough.) They also propose a 1/2 percent decrease in the corporate tax rate....in 2007.
I imagine the big Corps. like Bell and Telus will be screaming bloody murder tommorrow.......that should be a hint to the average Joe, that overall it's much more fair than the previous rules......
Also, another Kudos to Flaherty for the announcement regarding rules for seniors......income splitting for pensioners, and an increase in the Age Credit Amount by $1000.
Obviously good ideas for a government rumored to be coveting a spring election......
But no matter what the underlying reason........good moves just the same.
(VIa CBC)
Flaherty imposes new tax on income trusts
and
(Via CTV)
Flaherty plans changes to curb income trusts
Kudos to Finance Minister Jim Flaherty and the Harper government for taking this "BULL" by the horns.
Income trusts are baloney for everyone but the companies that undertake them. It's all about avoiding the Corporate tax man. The devil as always of course will be in the details, which i'm waiting anxiously to see.......but on first glance this is great news.........
Why should pensioners and widows get the short end of the stick so companies like Bell can avoid paying taxes like other Canadians......
**EDIT**
I had been wondering if the Bell and Telus plans would prompt action like this from the feds. Too bad they didn't act sooner before Aliant (Now Bell Aliant) went this route.......
Flaherty's plan gives existing trusts a 4 year grace period......(I think 2 would have been enough.) They also propose a 1/2 percent decrease in the corporate tax rate....in 2007.
I imagine the big Corps. like Bell and Telus will be screaming bloody murder tommorrow.......that should be a hint to the average Joe, that overall it's much more fair than the previous rules......
Also, another Kudos to Flaherty for the announcement regarding rules for seniors......income splitting for pensioners, and an increase in the Age Credit Amount by $1000.
Obviously good ideas for a government rumored to be coveting a spring election......
But no matter what the underlying reason........good moves just the same.
