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| *Ostroff, Fair and Company>>>Canada Taxes |
Fellow Canadians...how have you been affected by the changes on Income Trusts? |
After Nov 1st bombshell that the conservative Government dropped on us regarding the tax on Income Trust, I would like to know how many of you have been wiped out of their livelyhood.... I dropped about $2000 on Wednesday. Frankly, the selloff was foolish. The tax changes on the distributions don't go into effect for more than 4 years. I can average down now and still get the great distributions for the next couple of years. IT's were never a sound business plan. I got out of them when the Liberals dropped the sack just as they were being replaced by present Gov't. I feel for people who relied on the so-called 'experts' that tended over their mutual fund holdings. They should be held accountable. Others who saw them as a get rich quick idea should learn not to be so naive. Investing blindly separates fools from their money. A subscription to Investment Reporter (Canada) or John Dessauer's Investors World (US) will help average people gain extra-ordinary results. Good Luck to all involved. I have a friend who lost a couple thousand because of the Income Trust Tax. |
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