TSX plunges after Ottawa changes trust tax

[CTV News]

Income trust investors suffered tremendous losses Wednesday after the federal government's surprise announcement that the structure will be taxed.

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[Kreskin]

This is huge news. People are going to find out income trusts aren't the "fixed income" product they thought they were sold.

 

[kendall]

lost's ppl in trap now.

 

[jariax]

Yes, some investors are going to be moderately hurt by this. However, it is the right thing to do - and it appals me that the Liberal government is arguing against it. The Conservatives actually raise tax on corporations and the Liberals step in to criticize? Incredible. Who would have thought?

That being said, there might have been a way to phase it in, such as putting an immediate moratorium on it, and announcing that the telcos have five years to phase it out.

 

[Hotshot]

So much for Harper's promises!

 

[the caracal kid]

So much for Harper's promises!

Better that harps admits the cons were in error with their promises. Of course, that won't happen either (admit to the error of making the election promises).