The Resource Income trusts and integration of business and investor taxes : a policy analysis and proposal

Income trusts and integration of business and investor taxes : a policy analysis and proposal

Label
Income trusts and integration of business and investor taxes : a policy analysis and proposal
Title
Income trusts and integration of business and investor taxes : a policy analysis and proposal
Creator
Subject
Language
  • eng
  • eng
Summary
This article deals with the taxation of income trusts in Canada and the more general issue of integration of business-level and investor-level income taxation. It begins with background information about the use of trusts as vehicles for investment and business in Canada, including the recent popularity of public income trusts. It goes on to present information relevant to a general understanding of the nature and taxation of income trusts and other flowthrough entities in the Canadian taxation system, and the tax policy issues raised by their use. Some of the specific benefits and requirements associated with the use of income trusts as vehicles for carrying on business are described in more detail, including in particular the very important benefit of integration of business-level and investor-level taxation under the current income tax regime. From this background, an analytical framework is developed for determining possible tax policy approaches to the issues raised by these business structures, and this framework is then applied to evaluate several different possible tax policy approaches. One of these approaches, developed and recommended by the authors, uses a refundable dividend tax credit and a corporate distribution tax imputation system to greatly enhance integration of corporate-level and shareholder-level income tax for corporate businesses. The recommended approach is described and analysed in detail
Citation source
In: Canadian tax journal = Revue fiscale canadienne. - Toronto. - Vol. 54 (2006),
http://library.link/vocab/creatorName
  • Mintz, J.M
  • Richardson, S.R
Geographic coverage
North America
Language note
English
http://library.link/vocab/subjectName
  • trust
  • tax policy
Label
Income trusts and integration of business and investor taxes : a policy analysis and proposal
Link
https://library.ibfd.org/custom/web/SD_PDF/scans/2006/A-D/CANATAJO/vol.54/2_359-406.zip
Publication
Note
20061031

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