|
||
|
Background Information on the potential NAFTA Claim
A copy of the text of the NAFTA can be found here:
You can learn more about NAFTA claims, and read about previous NAFTA cases, here:
The Government's official announcement, as well as background materials assembled by the Government of Canada to justify its new measures, can be found here: http://www.fin.gc.ca/news06/06-061e.html
A copy of the “Convention Between Canada and the United States of America With Respect to Taxes on Income and on Capital” can be found here: http://www.fin.gc.ca/treaties/USA_e.html
Information about the effects of the Government's new measures can be found on the Fortin Report link below: Analyst Yves L. Fortin estimated that the Government of Canada permanently destroyed between $28 and $37 Billion with the announcement of its measure. See: Yves L. Fortin, “Taxation Of Income Trusts: Is It Worth The Cost And The Turmoil?”, November 2006.
Information about the effects of the Government's new measures on energy trusts can be found: http://www.canadianenergytrusts.ca/documents/CompleteReportDec2006FINAL.pdf A report prepared for the Coalition of Canadian Energy Trusts estimates that the measure has resulted in $14 Billion in estimated of losses to investors in the Canadian energy sector alone. See: "Canadian Energy Trusts: An Integral Component of the Canadian Oil and Gas Industry", December, 2006.
A demonstration of how the Government of Canada failed to keep its promises to safeguard the tax regime supporting income trusts can be found here: http://www.youtube.com/watch?v=7xsGijo8qmw http://youtube.com/watch?v=U9mibZYpVPY
Also review the Conservative 2006 Platform document below. The discriminatory reason for the Government of Canada's broken promise on income trusts can be found here: “The point I was trying to make … was that the large energy trusts, as shown on the chart behind the member, are 50% owned by foreigners, largely Americans, who are only paying a 15% withholding tax. I'm sure the member will want to look at that chart. He will realize that a tremendous tax burden is being shifted to Canadian individuals and their families in that sector.” Statement made by the Canadian Minister of Finance, James Flaherty, before the Finance Committee on January 30, 2007.
Fortin Report Conservative 2006 Platform |
||
|
Please see disclaimer
|