Thursday, December 01, 2005 - Daily News Goodale listened-No more double taxation on income trusts - Daily News: "According to the minister, the tax changes will eliminate the double taxation of dividends. The tax reduction will take the form of an enhanced dividend 'gross-up' and tax credit to make the total tax on dividends received from large Canadian corporations to make it more comparable to the tax paid on distributions of income trusts.
'Reducing the tax individuals pay on dividends will encourage savings and investment and will help establish a better balance between the tax treatment of large corporations and that of income trusts,' said Minister Goodale. 'This action will benefit Canadians and result in bottom-line tax savings for them.'
As a result of this surprise announcement the Canada Revenue Agency will resume providing advance tax rulings on flow-through entity structures"

No comments: