November 2 - TheDeal.com - An about-face by the Canadian government could boost M&A activity in Canada's already deal-frenzied energy sector.
That was the prediction Wednesday, Nov. 1, after Canadian Finance Minister Jim Flaherty announced late the day before that the federal government will begin applying corporate taxes to income trusts by 2011.
The trusts have been exempt from most corporate taxes provided they pay out most of their income. The tax advantages had prompted many Canadian companies to convert into trust, and Canadian banks and law firms had marketed the structure heavily to U.S. companies. Read More (subscription required).
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