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Article: Income Trust decision benefits financial advisers; Funds seen likely to be damaged, but favor taxation.(News)
- Article from:
- Investment News
- Article date:
- November 13, 2006
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Copyright informationCOPYRIGHT 2006 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: David Clarke
OTTAWA - The minority Conservative Party government's surprise decision to tax income trust distributions will put a premium on professional investment advice.
"First and foremost, we recommend that individuals should not make any quick decisions but rather consult with their investment counselors, portfolio managers or financial advisers to determine the implications the changes may have on their personal or business investment strategy,'' said Don Cranston, chairman of the Toronto-based Investment Counsel Association of Canada, the representative organization for that nation's investment counsel and portfolio managers.
Income trusts - ...
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