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Friday, 09 January, 2009, 00:10 GMT | more >>

Flaherty paves way for more trust growth



By Upstream staff 

Canadian Finance Minister Jim Flaherty has said that income trusts with growth plans that exceed the government’s limits may seek special approval on a case-by-case basis over the next four years.

The government had granted the trusts a four-year transition until they have to start paying corporate income taxes.

This allowed them to grow by 40% to the end of 2007 and 20% in each of 2008, 2009 and 2010, a total of 100% over the period.


Monday, 18 December, 2006, 02:19 GMT  | last updated: Monday, 18 December, 2006, 02:26 GMT

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