Saturday, November 12, 2005

Even More Income Trust Fallout

Enuf feedback for you Ralph?

Now the Bank of Montreal is calling on "Finance Minister Ralph Goodale to step up to the plate and publicly declare his support for income trusts, a move it claims is necessary to remove the pall of uncertainty that is clouding the sector's future."

BMO's recommendations are expected to be echoed by others in the financial services industry over the coming weeks. The Canadian Bankers Association, an industry group, is currently finalizing its submission, which sources said will advise Ottawa to provide two kinds of tax relief to Canadian companies: One on the general corporate tax rate, and another on dividends.

Royal Bank of Canada, the country's largest bank, is expected to make a similar argument to Ottawa when it delivers its response in a couple of weeks.


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