Industry

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Word on the Street: Comments on income trust change

Not surprisingly, Ottawa’s unexpected decision to introduce a tax on income trusts has produced a wave of reaction from across the investment world. Some are concerned or angry; others say not to worry. As a sampling, Advisor.ca has pulled together observations from a number of experts and other interested parties. Don Drummond, senior vice-president and […]

By Staff |November 2, 2006

3 min read

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Fund sales expected to top $1.6 billion

Preliminary data suggests that October was a strong month for the mutual fund industry, with IFIC estimating net sales of between $1.4 billion and $1.9 billion. Net sales came in at $1.1 billion in September. However, October also marked a return by investors to long-term funds, says IFIC vice-president Pat Dunwoody. “Money market funds, which […]

By Staff |November 2, 2006

1 min read

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Feds hit trusts in surprise mini-budget

The federal government has announced a new plan to tax the distributions of income trusts, among other measures, in what amounts to a mini-budget released late Tuesday night.

By Steven Lamb and Kate McCaffery |November 1, 2006

3 min read

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(November 1, 2006) For the fourth consecutive year, the CRA has issued a statement warning taxpayers to be aware of the risks of “gifting trust arrangements” or “leveraged cash donations.” In this case, it was art-flipping. On Tuesday, the Supreme Court of Canada refused to hear an appeal relating to one of these schemes, which […]

By Staff |November 1, 2006

3 min read

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Trick or treat?: More on Ottawa’s tax changes

While much of Bay Street cries foul about tricks played on the income trust world, they’re overlooking a few tax policy treats that also came with the announcement, which are intended to soften the blow for seniors. Although the “main event,” a distribution tax on income trusts and limited partnerships, is featured in most of […]

By Kate McCaffery |November 1, 2006

3 min read

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The future of the trust structure

Federal Finance Minister Jim Flaherty’s surprise decision that he plans to tax income trusts may have been a nasty trick on All Hallow’s Eve, but tax experts say the writing was on the wall. If tax leakage was ever an issue for the federal government than Telus’s decision to convert to a trust certainly sent […]

By Mark Brown |November 1, 2006

4 min read

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(October 31, 2006) The New Brunswick Securities Commission has issued a temporary cease-trade order against three firms and three individuals after an investigation revealed they were trading in securities without being registered. The companies involved are Jabez Financial Services, based in Panama, JFS Credit Union, which purports to be headquartered in Sweden, and JFS-INC.NET, the […]

By Staff |October 31, 2006

3 min read

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Partners In Planning in play

Is Partners In Planning about to be bought out? That rumour began circulating this week, naming Calgary-based Walton International Group as a potential buyer for the Saskatchewan-based mutual fund dealer. “Nobody is supposed to know about this, but it’s the worst-kept secret this year,” said one anonymous industry insider. “It’s my understanding that there are […]

By Steven Lamb |October 31, 2006

2 min read

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Retirees consolidating assets with a single advisor

Financial service institutions and advisors are sitting on a multi-trillion dollar opportunity to gain assets and grow their business, according to a recent study on the financial services industry by the TowerGroup. By providing efficient and effective retirement income planning services for the growing percentage of the population in or near retirement, the research firm […]

By Mark Brown |October 30, 2006

3 min read

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(October 30, 2006) UBS Investment Research is urging investors to stay in equities and resist the temptation to move into cash, at least for the remainder of 2006. The TSX and S&P 500 have sailed through the last three months with barely a hint of the vulnerabilities that typically present themselves in these months, the […]

By Staff |October 30, 2006

3 min read

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