• Finance Releases Revised Non-Resident Trust Legislation
  • November 9, 2010 | Authors: Peter A. Wong; Stephanie A. Wong
  • Law Firms: Borden Ladner Gervais LLP - Vancouver Office ; Borden Ladner Gervais LLP - Toronto Office
  • On August 27, 2010, the Department of Finance Canada released for public consultation1 a package of draft legislation (Draft Legislation) to implement various tax measures announced in the 2010 federal budget as well as several previously announced tax initiatives, including tax rules relating to non-resident trusts (NRT) and foreign investment entities (FIE). Since their first introduction in 2000, the draft rules applicable to NRT and FIE have been controversial. The proposed rules now included in the Draft Legislation represent the seventh version of these rules.