Canadian Government's Proposed Tax on Income Trusts
On Tuesday October 31, 2006 Canada's Finance Minister announced proposed changes to the way income trusts are taxed. If the proposed changes are enacted, existing income trusts will have a four-year transition period and will not be subject to the proposed measures until their 2011 taxation year. Further information can be obtained by reading the government’s full transcript of the plan by clicking here.
Penn West intends to be active in supporting the interests of all of its stakeholders. The Trust encourages all unitholders to contact the Canadian Prime Minister and/or the Canadian Finance Minister to express your opinion on the proposed tax measures. Canadian unitholders are also encouraged to contact their Members of Parliament.
Please click here to download a contact list of all current MP's.
Click on any of the organizations below for more information:
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Latest News:
- September 4, 2007 - Canada's Liberals get Trust Plan Election-ready
- June 22, 2007 - Canada's Senate passes 2007-08 Budget Bill
- June 12, 2007 - Canadian House passes Controversial Budget Bill
- February 28, 2007 - Energy Trusts says Finance Committee Report Gets it Right
- Taxing Income Trusts: Reconcilable or irreconcilable differences - Report of the Standing Committee on Finance February 2007
- February 13, 2007 - Liberals Propose New Income Trust Policy to Counter Conservative Mismanagement - click here to visit Liberal website for more info.
- January 17, 2007 - Coalition of Canadian Energy Trusts supports Finance Committee decision to review trust tax legislation
- December 21, 2006 - Canadian Government Releases Draft Legislative Proposals to Implement the Distribution Tax on Income Trusts and Partnerships
- December 20, 2006 - Energy Trust Coalition Releases Report on its Perspectives Regarding the Canadian Government's October 31, 2006 Announcement with Respect to Energy Trusts
- December 20, 2006 - Energy Trust Coalition News Conference
- December 15, 2006 - Department of Finance Provides Guidance on "Normal Growth" for Income Trusts and Other Flow-Through Entities
- November 5, 2006 - Coalition of Energy Trusts Holds Media Conference
