When Finance Minister Flaherty announced the Halloween massacre of income trusts on October 31, 2006, he indicated that income trusts or "publicly-traded flow-through entities" had become a problem. Not surprisingly, most people believed he was referring to mutual fund trusts and limited partnerships that were listed on stock exchanges. Certainly, the statistics he referred to in justifying the action were taken from that source. Unfortunately, with the tabling of the Notice of Ways and Means Motion in the House of Commons on March 26, 2007, it now appears that many other entities are also seen to be part of the problem.

type Tax Law Bulletin - April 2007 - Unlisted Entities Caught by the Income Trust Legislation