income trusts, trusts, energy, tax, taxation, SIFTs, specified investment flow-through entities, distributable cash

Since the new rules surrounding income trusts were first announced on October 31, 2006, the sector has been in upheaval. Despite lingering uncertainty about Bill C-52, the first wave of activity has resulted in 40 announced or completed transactions, with more in the works. By the end of 2010, trusts will have had to decide on their fates. For many, the time to do so is now. Will they convert to corporate form, or allow themselves to be taken over? Will they continue as a trust despite the higher taxation? The information you need is right here.

Facing the new realities for publicly traded trusts and partnerships

Structuring for the next four years

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Income trusts: One year later
It’s been a volatile year for the income trust sector, with some surprising outcomes. Staying abreast of developments will be critical to making the right decisions.

REIT update: The writing is on the wall
Buyout activity in the REIT sector has been relatively stable, since most are exempt from SIFT rules. But are they?

Are MLPs the solution to income trust uncertainty?
MLPs emulate the tax characteristics of income trusts for those that qualify – but a conversion can be complex and costly.

Trust buyouts: Lots of activity, little tax revenue
There have been 40 announced or completed trust buyouts in the past year. Find out what sectors are targeted, who’s buying and where the bargains are.

Uncertainty on SIFT guidelines
Limits to growth, the tax consequences of conversion, the status of subsidiary entities, anti-avoidance, and REITs remain unclear. What’s the latest thinking?

Clarity on distributable cash
The CSA and CICA have both released their guidance on distributable cash. But with the focus now on evolving strategies, how relevant is this information?

A difficult year for energy trusts
Buffeted by a number of forces, several energy trusts have indicated their intent to convert to the corporate form. Most are at least evaluating strategic options.

Governance: Is the conversion dilemma intensifying?
The governance challenges posed by conversion arrangements are complex and sensitive, making independent legal and financial advice an imperative.


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