Canadian income trusts are Canadian-based income investment trusts that hold income-producing assets. Their units trade on stock exchanges, but they flow much of their income through to unitholders as “distributions.”
Canada offers special tax treatment for income trusts. When they flow their income through to their unitholders, they don’t pay much if any corporate tax. Instead, investors pay tax on most of the distributions as ordinary income (although some distributions qualify as a tax-free return of capital).
Today, there are far fewer Canadian income trusts available to investors than in the early part of the last decade. That’s because the federal government’s new tax on income-trust distributions took effect on January 1, 2011.
Most trusts converted to conventional corporations. However, real estate investment trusts (REITs) were exempted from the new income-trust tax. They are now the primary source of Canadian income trusts available for investors.
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In 2011, the Canadian government will begin taxing income trusts (with the exception of real estate investment trusts, or REITs). The effect the tax change will have on Canadian investors’ portfolios is something we’ve often discussed in our Canadian Wealth Advisor newsletter.
When the income-tax benefits… Read More
Right now, Canadian income trusts pay out a high percentage of their cash flows to their unitholders. This lets them avoid paying corporate taxes. It also gives many of them significantly higher yields than a lot of dividend-paying common stocks.
Canadian income trusts face tax changes… Read More
Is it a good time to bargain hunt for Canadian income trusts? According to one school of thought, Ottawa’s planned 2011 removal of income trusts’ tax advantages has unduly rattled investors and spurred unwarranted selling.
That’s the kind of assumption that makes sense, but it’s unlikely… Read More
One of our recommended Canadian income trusts is BELL ALIANT REGIONAL COMMUNICATIONS INCOME FUND $28 (Toronto symbol BA.UN; Conservative Growth Portfolio, Utilities sector; Units outstanding: 127 million; Market cap: $3.7 billion; SI Rating: Above average). Bell Aliant is the main provider of telephone services in… Read More
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