Income Trusts
On October 31, 2006, Finance Minister Jim Flaherty announced changes in rules to tax Income Trusts, backtracking on the Conservative party’s campaign promise. Since then, the Canadian investors have lost $35B in wealth invested in Income Trusts. As a result, Canadian income trusts are now at fire-sale prices, and being taking over by US Hedge Funds.
Resources:
S&P/TSX Income Trust