Back on Halloween 2006, Jim Flaherty claimed that his decision came after “months of study”......now we’re into years of dither.
Perhaps Jim Flaherty is fond of holding on to the "carrot and stick" known as the income trust transition rules. Can this guy dither any longer?
Les Parsneau wrote:
Flaherty has until Sunday to release the Income Trust Transition rules. Or did he lie again? It takes him almost 2 years to create the rules that effectively shut down a $200 billion industry. Makes one question how much thought, effort and research was put into the initial decision.
30 days and 30 nights
My math says 30 days from June 13 ends July 13....That would be one week from Monday as Stubby's deadline. Any bets on him making the date? He actually said within 30 days so that would be before Monday. Or, he could be conning us again. It must really annoy him to pass on the capital gains he is forcing. I suspect another slick trick based on more myths is coming our way.
Canada to Issue Income Trust Rules in 30 Days, Flaherty Says
By Theophilos Argitis
June 13 (Bloomberg) -- Canadian Finance Minister Jim Flaherty
``It may go over into July, that's why I'm saying within 30 days,'' Flaherty, 58, said in an interview in Vancouver late yesterday.
Flaherty announced on Oct. 31, 2006, that he planned to tax income trusts for the first time in 2011 to limit tax losses and halt companies such as BCE Inc. from adopting the structure. Income trusts avoid most corporate taxes by paying out their cash flow to investors in monthly dividends.
Thursday, July 10, 2008
Posted by Fillibluster at 7:51 AM