Replies to post #20773 on Traders Cooperative

[choad]

Hello cy....just back from a week in Montana hunting and am assuming this is the reason the NG trusts got hammered while I was gone....this is my first looking into what happened so I am still in the dark but from the links message existing trusts will not be impacted until 2011 tax year....what am I missing? That sure seems like a long time to be in a preferrential treatment trust to me.....four years out is a long time.....perhaps a giant overaction.
>>>For income trusts that begin trading after today, these measures will apply beginning with their 2007 taxation year. For existing income trusts and limited partnerships the government is proposing a four-year transition period. They will not be subject to the new measures until their 2011 taxation year <<<