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Tex Frezell's Submission in Response to Finance Canada's Tax and Other Issues Related to Publicly Listed Flow-Through Entities (Income Trusts and Limited Partnerships) consultation:
I am very concerned over the tampering of the income trusts. I am on a pension and require the income returned by my investment in these trusts. Costs are rising (gas) and there are no guaranteed returns of any consequence. I have been investing in these funds since my retirement in 2001. I invested based on the current tax situation. For the tax structure to be changed after all these years is simply not fair.
Tax the future trusts if necessery but it is not proper business procedure to change the rules after a product has been issued. I have been most upset for almost 2 months since Goodale announced more governement interference. Seniors in the Okanagan area where I reside are involved a great deal in income trusts because it is a retirement area. I would strongly urge you to leave the taxation rate on the current income in tact. The taxation represents such a small percentage of Governement Taxation.
Vernon British Columbia