Bob McCue on Foreign Asset Income Trusts

In the Bloomberg.com article, "Argent Leads Revival of Canadian High-Yield Trust IPOs," author Doug Alexander discusses foreign asset income trusts in Canada and exemptions in the rules which allowed a trust to keep its preferred tax treatment if its only income came from assets outside Canada. He talks about companies which are now planning initial public offerings to buy assets in the U.S. Bob McCue comments, "The rules are very clear: if you're operating outside of Canada the so-called specified investment flow-through rules don't apply..."