existing trusts. Just heard on RobTV (Canadian version of CNBC), that the Liberal Senate is considering not passing the new Trust bill as is. They are considering GRANDFATHERING existing trusts. That would mean PGH is exempt from the new trust rule. ie NO TAX CHANGE!!@!!!!!
Don't sell yet!
I saw the vid, but what weiners the reporters were, why didn't they zap the guy with the loss in value compared to the potential tax increase, or maybe some of those "third world economic policy" quotes? They just let the dude prattle on and say essentially nothing.
Even though the Conservatives are in power in Canada, the Liberals still have control of the Canadian Senate. So if they decide to change the BILL for the new tax (and thats what they are indicating), then they have the power to do it.
This is GREAT news. This is NOT a done deal yet. We may be saved by the senate.
When you think about it, the Tories basically handed a huge "gift" to the Liberal party with this idiotic move. Because the Liberals (who ordinarily would be pro-tax) can ride in on their white horse and tell all the retirees who lost billions that they are here to "save the day" by blocking this proposal. In turn, they can call for an election next year and remind the voters who saved them their pensions. Liberals win anyway you look at it.
Just can't believe Harper did not think this through. Boy, those Tories really are "brain dead".
I think if that were accurate, the stock would have moved..could be just wishful hearsay...I have a friend in Canada that I'm trying to contact to see if there is in fact anything on the news...if it were true, the insti's/hedgies would now about it....sure hope it is true as i have been accumulating quite a bit of PGH! LOL!
It would only make sense since they can avoid lawsuits, court challenges, etc and the liberals would be able to claim to be saving the people from the cruel, haertless money grubbing conservatives in the next election.
Lets see what happens once this news hits the street. So far it's only on RobTV. If anyone is watching it, they should re-iterate it on the 1/2 hour update.
Honestly that would be the fairest scenario to all existing trusts.