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Department of Finance Provides Guidance on “Normal Growth” for Income Trusts

December-18-2006

Area REITs and Income Securities

Summary

On December 15, 2006, the Department of Finance released guidance for income trusts and other flow-through entities that qualify for the four-year transitional relief from the new income trust tax.  The guidance establishes objective tests with respect to how much existing income trusts are permitted to grow without jeopardizing their transitional relief.

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