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Dr. Derek Blackstock'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:
November 17, 2005.
I am writing following review of the information made available by the Minister of Finance as part of the recent consultation process.
This information may be published.
As a retired professional reliant on an RRSP for retirement income I am greatly concerned that my existing Canadian Real Estate Investment Trust within my RRSP will be adversely effected by changes made in the current treatment of Canadian real estate trusts. This investment represents a conservative 12% of my portfolio that I had hoped would provide consistent cash flow on which I rely.
The investments I have in CREIT have been in place for over twenty years. Existing trust investments should be exempt from any changes thus protecting the value of this long term planning within an RRSP. Stability for those of us who have diligently planned our retirement over many years should not be placed at risk by changes REIT in investments held within RRSP'S.
Dr. Derek Blackstock
Richmond, British Columbia