ARTICLE · 21 JULY 2000

Tax Changes Of Interest To Canada’s Investment Management Industry

Pricewaterhouse Coopers

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CanadaTax

David Steele

On June 5, 2000 the Canadian federal government tabled a Notice of Ways and Means Motion ("NWMM") with amending legislation to implement a variety of income tax measures previously announced. The following comments highlight those items of prime interest to the investment management industry.

TRUST PROPOSALS

The so-called trust proposals contained in the NWMM are the most relevant to the investment management industry. They were initially released on December 23, 1998, and subsequently revised on December 17, 1999. Further modifications and additions have been made in the June 5, 2000 NWMM. Finance Canada has stated that the trust proposals are intended to clarify existing legislation, and to codify current administrative policies. However, the amending legislation goes well beyond this simple goal.

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