• Trick or Treat? Finance Delivers Fourth Version of FIE Rules in Time for Halloween
  • December 15, 2003 | Authors: Mark Lobsinger; Margaret C. McNee; Gary K. Ostoich; David G. Wentzell
  • Law Firm: McMillan Binch Mendelsohn LLP - Toronto Office
  • The candy bags of tax advisors were filled to the brim a day early as the Minister of Finance released 156 pages of draft legislation and 204 pages of explanatory notes relating to the new Foreign Investment Entity ("FIE") and Non-Resident Trust rules to be added to the Income Tax Act. The FIE rules have been on the government's agenda since the 1999 Federal Budget. Yesterday's release is the fourth version of the detailed legislative proposals to be made public. There are some important changes embedded in the newest version of the FIE rules (the "Halloween Rules"), which make their debut a little more than a year after the October 11, 2002 version of the rules was released.