Halloween Massacre
 |
Definition of 'Halloween Massacre'Canada's decision to tax all income trusts domiciled in Canada. In October 2006, Canada's minister of finance, Jim Flaherty, announced that all income trusts would be taxed in a similar manner as corporations at a rate over 30% on taxable income, causing unit holders' values to decrease dramatically virtually overnight. |
 |
Investopedia explains 'Halloween Massacre'Income trusts, which were permitted to make distributions to unit holders on a pretax basis under old Canadian income tax laws, were a popular investment vehicle in the early 2000s, especially in Canada. The Canadian energy sector was hardest hit by the change, and suffered an estimated loss of about $35 billion to investors, giving rise to the term "massacre".This change in the Canadian tax law, which was largely debated after the fact, was made to remedy a perceived loss of tax revenue. |
Related Definitions
Articles Of Interest
-
Tax-Saving Tips For Canadian Taxpayers
Find out how to get a bigger return. -
Haunting Wall Street: The Halloween Terminology Of Investing
Beware of zombies and Jekyll and Hyde companies! Read about the spooky terms circulating Wall Street. -
Changes In Tax Legislation And Regulation
Keeping on top of these amendments can help you avoid penalties and take advantage of benefits. -
How do I list the beneficiaries of my life insurance policies if I have a trust?
Because most states protect life insurance policies from creditors, most buyer questions come from the confusion created with ownership and beneficiary designations because of tax treatment. ... -
Tax Holidays For Back-To-School Shopping 2013
Find out the types of back-to-school purchases that are exempt from sales tax for each state that is holding a tax holiday. -
New Tax Rules Target The Top Tax Bracket
The American Taxpayer Relief Act brings about new tax rules for the wealthy that people such as Warren Buffett have been calling for over the last few years. -
The U.S. National Spending And Debt
We are looking at what could be the official year of the Federal Budget, or, more specifically, our debt and how we will manage it for many years to come. -
Certifications For Estate Planning
These certifications can lead to a promising career, but is estate planning for you? -
Has Income Tax Become A Class Tax On The Poor?
With more than 33% of American families falling close to the poverty line despite their adult members holding full-time employment, a rising number of citizens are being forced to pay a rate ... -
How The 2014 Obama Budget Could Affect Your Finances
Depending on which estimate you believe, Obama's proposed budget would raise the tax bill of a household with a yearly income of $50,000 to $75,000 between $63 and $100 per year. However, that’s ...
Free Annual Reports