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Tax and Other Issues Related to Publicly Listed Flow-Through Entities
(Income Trusts and Limited Partnerships)

September 2005

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PDF Version

Related document:

Consultation Paper

Table of Contents

1. Executive Summary

2. Background on FTEs

a) Income Trusts

b) Limited Partnerships

c) Growth of FTEs

3. Public Corporations and FTEs: Tax Issues

a) Tax Treatment of Public Corporations and Their Shareholders

b) Tax Treatment of FTEs and Their Investors

4. International Comparison

b) United Kingdom

c) United States

d) Summary and Comparison

5. Tax Revenue Implications of FTEs

a) Data and Methodology

b) Estimates for 2004

c) Sensitivity of Estimates to Key Parameters

d) Projecting Possible Future Impacts

e) Provincial Tax Implications

6. Economic Efficiency Issues Related to FTEs

a) Economic Efficiency

b) The Role of Tax-Exempt Investors

7. Potential Policy Approaches

8. Consultation Framework

Annex: Estimated Annual Impact of FTEs on Federal Tax Revenues