Share on LinkedInShare on LinkedIn

ARTICLE · 07 AUGUST 2008

Government Releases Draft Legislation For SIFT Conversions

Borden Ladner Gervais LLP
Borden Ladner Gervais LLP
Contributor
Borden Ladner Gervais LLP

Borden Ladner Gervais LLP

With over 750 lawyers, intellectual property agents and other professionals, BLG services...

View firm profile
Explore more from Borden Ladner Gervais LLP

On July 14, 2008 the Minister of Finance (Canada) released draft legislation which includes new income tax rules to facilitate the conversion of SIFT trusts (generally known as income trusts) and SIFT partnerships into corporations

CanadaTax
BLG'S National Tax Group
BLG'S National Tax Group
Author LinkedIn connections

On July 14, 2008 the Minister of Finance (Canada) released draft legislation which includes new income tax rules to facilitate the conversion of SIFT trusts (generally known as income trusts) and SIFT partnerships into corporations.

The draft legislation also contains amendments to the existing SIFT rules in connection with the Department of Finance Backgrounder released on December 20, 2007, which announced proposed technical amendments to further clarify the SIFT rules.

To access the technical commentary prepared by the the Borden Ladner Gervais LLP tax department please click here.

For a copy of the draft legislation for SIFT Conversions please go to http://www.fin.gc.ca/drleg/bia2008_e.html.

About BLG

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Related Articles

Legal Intelligence Newsletters

Read more about

Related Comparative Guides

See more popular content from

Article

Understanding Canada’s new "Productivity Mega Deduction": Broad-based, immediate, and permanent expensing

Canada's new Productivity Mega Deduction promises to slash the marginal effective tax rate on business investment to just 6.4%, positioning the country as the most competitive G7 nation for capital deployment. This permanent tax incentive extends immediate expensing to roughly 65% of capital assets, fundamentally reshaping the economics of investing in Canadian operations across manufacturing, energy, technology, and resource sectors.
CanadaTax
Gowling WLG
Gowling WLG
Article

Canadian Prime Minister Announces ‘Productivity Mega Deduction’

Canada's new Productivity Mega Deduction permanently provides immediate expensing for a wide range of depreciable property and Canadian development expenses, dramatically expanding the scope beyond the previously announced Productivity Super Deduction. The measure aims to reduce Canada's marginal effective tax rate on new business investment to 6.4%, positioning it as the lowest among major economies and less than half the U.S. rate.
CanadaTax
Osler, Hoskin & Harcourt LLP
Osler, Hoskin & Harcourt LLP
Article

Update: Bare Trust Reporting Rules For 2026

The federal government has finalized revised reporting rules for bare trusts, significantly narrowing the original requirements. While bare trusts are generally exempt from filing for 2023-2025, certain arrangements involving separated legal and beneficial ownership will face new filing obligations starting with the 2026 taxation year, with specific exemptions for family trusts, joint ownership arrangements, and principal residences.
CanadaTax
Fogler, Rubinoff LLP
Fogler, Rubinoff LLP
Article

Canada Announces Productivity Mega Deduction

Canada's federal government has introduced the Productivity Mega Deduction, a groundbreaking tax measure offering immediate expensing for approximately two-thirds of capital asset investments. This initiative aims to reduce Canada's marginal effective tax rate on new business investments to 6.4%, positioning it as the most competitive among G7 nations. The measure extends to Canadian Development Expenses in the energy and mining sectors, potentially transforming the economics of major capital-intensive proj
CanadaTax
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
Article

From Duties To Import Bans: The Canada–U.S. Tariff War After The Collapse Of Negotiations

The United States has escalated its trade dispute with Canada by imposing import bans on alcoholic beverages, dairy products, and motorcycles under Section 338 of the Tariff Act of 1930, while Canada responds with matched counter-tariffs on $27.6 billion worth of U.S. goods. Following the collapse of bilateral negotiations in August 2026, both nations have entered an unprecedented phase of trade restrictions that extends beyond traditional tariffs to include procurement exclusions and threatens further auto
GlobalInternational Law
Borden Ladner Gervais LLP
Borden Ladner Gervais LLP
Article

Canada Investment Summit 2026: What Business Leaders Need To Know

Canada's inaugural Investment Summit in September 2026 aims to attract $1 trillion in investment across defence, infrastructure, Indigenous partnerships, technology, energy, critical minerals and agriculture. This analysis examines the federal measures shaping the Summit's agenda and outlines the key legal, regulatory and structuring considerations businesses and investors should evaluate when assessing nation-building opportunities in Canada.
CanadaGovernment, Public Sector
Borden Ladner Gervais LLP
Borden Ladner Gervais LLP
Article

New Churchill Falls Agreement: Key Terms For Newfoundland And Labrador, Québec And Canadian Power Markets

Newfoundland and Labrador's House of Assembly has approved a landmark definitive cooperation and implementation agreement that would replace the 1969 Churchill Falls Power Contract, pair the redevelopment of Churchill Falls with the Gull Island project, and establish new transmission pathways through Québec. The agreement faces political uncertainty in Québec ahead of the October 2026 provincial election...
CanadaEnergy and Natural Resources
Borden Ladner Gervais LLP
Borden Ladner Gervais LLP
Article

SCC Clarifies When Administrative Errors Are “irregularities” Requiring Annulment Of Election

The Supreme Court of Canada annulled a federal election in Terrebonne, Quebec after a single mail-in ballot went uncounted due to an Elections Canada administrative error—a postal code mistake that directly affected the one-vote margin of victory. In a 6-3 decision, the majority clarified that serious administrative errors can constitute "irregularities" under the Canada Elections Act even without fraud or intentional wrongdoing, fundamentally reshaping how courts balance electoral integrity against v
CanadaLitigation, Mediation & Arbitration
Borden Ladner Gervais LLP
Borden Ladner Gervais LLP