Posted on 01/11/06
The man shows his courage
Jim Flaherty is exceedingly brave. He may also be politically suicidal. But the man did the right thing.Last night, the federal Finance Minister shocked investors with the announcement he would slap a tax on distributions from new trusts starting next year in a bid to curtail a market that threatens to swamp the Toronto Stock Exchange and forever shift the tax burden from corporations to individuals. He called the endless conversions "a growing trend to corporate tax avoidance."
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