| Sources Directory A to Z Index Topic Index |
RSS 
Sources Calendar
|
Find Experts & Sources
FAQ
Membership Form Be an Affiliate Powerful Tools Tell your story Media Directory
Media Releases
Sources Bookshelf
Sources Newsstand
Subscriptions Connexions Radical Digressions Sources HotLink Sources Select Resources Twitter Download PDFs Contact
Media Resources
Subject Index Releases List Event Calendar Submit a news release or Calendar event Include yourself in SOURCESFAQ
Membership Form Be an Affiliate Powerful Tools Tell your story Media Directory
Media Releases
Sources Bookshelf
Sources Newsstand
Subscriptions Connexions Radical Digressions Sources HotLink Sources Select Resources Twitter Download PDFs Contact
Media Releases from members of Sources.
To submit a news release, use this form.
To submit a news release, use this form.
IFIC Welcomes Budget Measure to Allow Tax-Deferred Merger of a Mutual Fund Corporation into Trusts
March 23, 2017
Toronto - March 23, 2017 - The Investment Funds Institute of Canada (IFIC) welcomes the government’s decision, announced in yesterday’s federal budget, to permit the tax-deferred merger of a mutual fund corporation into mutual fund trusts.“We commend the minister and his officials for working with the industry to provide the hundreds of thousands of investors in these funds, including people of modest means, with a smooth and equitable transition to the trust in a manner that is tax neutral,” says Paul C. Bourque, Q.C., IFIC’s president and CEO.
The need for this provision arose from a 2016 federal budget decision to eliminate the deferral of capital gains tax for investors when switching from one fund to another within a mutual fund corporation. IFIC has been working with Department of Finance officials over the past year to develop transition rules that would allow for an orderly restructuring and avoid unnecessary harm to investors.
“This provision enables mutual fund corporations to meet their fiduciary obligations to investors and permits funds to be reorganized in a tax-efficient manner,” Bourque noted.
The measure applies to qualifying reorganizations that take place on or after March 22, 2017.
– 30 –
About IFIC
The Investment Funds Institute of Canada is the voice of Canada’s investment funds industry. IFIC brings together 150 organizations, including fund managers, distributors and industry service organizations, to foster a strong, stable investment sector where investors can realize their financial goals. By connecting Canada’s savers to Canada’s economy, our industry contributes significantly to Canadian economic growth and job creation. The organization is proud to have served Canada’s mutual fund industry and its investors for more than 50 years.
For more information:
Sara Clodman, Senior Manager, Public Affairs
sclodman@ific.ca | 416-309-2317
For more information contact:
Sara Clodman
Senior Manager, Public Affairs
The Investment Funds Institute of Canada (IFIC)
Phone: 416-309-2317
Email: sclodman@ific.ca
Website: www.ific.ca
Click here to view our Sources Listing: