Currently, each of the terminating class funds invests solely in its respective continuing trust fund equivalent
Although these products will lose their tax-deferral benefit, other tax-efficient features and pooling benefits continue to make these products attractive, the firm states
Extending the deadline by another six to 12 months would give the investment industry time to make a proper transition
The opportunity to share or transfer expenses among funds held in a corporate-class family will continue
A move from one class to another within the corporate structure will be considered to be a disposition and subject to capital gains taxes
Jamie Golombek, managing director, tax & estate planning, CIBC Wealth Strategies, reports that effective September, an exchange of shares within a mutual fund corporation will be taxed as a disposition at fair market value. He spoke from the budget lock-up in Ottawa.
Series T options added to certain trust funds
The firm has made a variety of changes, including the addition of four ETFs and an expansion to its corporate-class funds
Reorganization of Corporate Class funds set for Sept. 12
New offerings for investors seeking tax-efficient investment solutions