Press Release: September 20, 2005

Statement by the Canadian Association of Income Funds regarding the Federal Government’s decision to suspend advance tax rulings on income trusts

We are puzzled by the government’s action to suspend advance tax rulings on income trusts. In our view this announcement was premature given that the government just embarked on a formal consultative process earlier this month. It leaves the impression that the Government is pre-empting its own process. However, we remain committed to participating in these consultations and will strongly demonstrate the value of income trusts to Canada’s economy.

For further information please contact:

George Kesteven
President, Canadian Association of Income Funds
403.519.3912