Canada removes tax advantages for income trusts

12/04/2006
The Canadian government’s decision to remove tax advantages from companies doing business as income trusts will mean the end of the oil and gas trust structure in its current form, said a report by Wood Mackenzie Ltd., Edinburgh.Separately, Raymond James & Associates Inc. issued a research note in which it compared Canada’s efforts to stem a widespread conversion of companies to trusts with what the US experienced decades ago with the emergence of master limited partnerships (MLPs).Canada’s new tax structure for all income trusts will reduce the value of the oil and gas trusts, said WoodMac Canada and Alaska energy analyst John Dunn. Trusts account for 20% of western...
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