Leave Income Trusts Alone sign now

The undersigned demand that the government of Canada not change the taxation rules of income trusts in a manner which would reduce the net (after-tax) income currently derived from holding these securities.

The Finance Minister - Ralph Goodale - has expressed alarm at the 'calculated' loss of $300,000,000 per year in tax revenues. This represents about 0.16\% of government revenues, yet amounts to a significant portion of the income being relied upon for basic living expenses by many Canadians. We believe that this quick calculation does not take into account the amount of additional revenue received by the Canadian government as a result of many US-based companies becoming TSX-listed income trusts.

The Finance Minister has also said that he is concerned about how income trusts may be affecting productivity. We suggest to the Finance Minister that his concern is misplaced: Many Coroporate CEOs have used the extra cash generated by their businesses to build themselves empires with little concern for shareholder value (e.g. BCE, Nortel). Income trust managers, by contrast, tend to have a much more disciplined approach to growing their businesses. Often, they must go to market to fund new acquisitions. This effectively affords the stakeholders the opportunity to 'vote' on the wisdom of a given acquisition.

If the government is concerned about 'penalizing' companies which choose not to convert to income trusts, then they can increase the dividend tax credit.

The Finance minister has already destroyed billions of dollars in market capitalization of income trusts (which will lower capital gains taxes collectable some time in the future by BILLIONS of dollars!). Enough! Income trusts are working for Canadians!

We demand that the Finance Minister state his intention to leave the tax rules for income trusts alone.

Sign The Petition

Sign with Facebook
OR

If you already have an account please sign in, otherwise register an account for free then sign the petition filling the fields below.
Email and the password will be your account data, you will be able to sign other petitions after logging in.

Privacy in the search engines? You can use a nickname:

Attention, the email address you supply must be valid in order to validate the signature, otherwise it will be deleted.

I confirm registration and I agree to Usage and Limitations of Services

I confirm that I have read the Privacy Policy

I agree to the Personal Data Processing

Shoutbox

Who signed this petition saw these petitions too:

Sign The Petition

Sign with Facebook
OR

If you already have an account please sign in

Comment

I confirm registration and I agree to Usage and Limitations of Services

I confirm that I have read the Privacy Policy

I agree to the Personal Data Processing

Goal
0 / 50

Latest Signatures

No one has signed this petition yet

Information

Lenora RiveraBy:
AnimalsIn:
Petition target:
Government of Canada

Tags

No tags

Share

Invite friends from your address book

Embed Codes

direct link

link for html

link for forum without title

link for forum with title

Widgets