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 - ...