PMAC Comment Letter – Department of Finance Pre-Budget Consultation

PMAC wrote to the Minister of Finance and National Revenue proving proposed amendments to the Amend the Income Tax Act (ITA.

Including:

  1. Amend the Income Tax Act (ITA) to allow pooled investment funds to merge
    on a tax-deferred basis and to invest internationally without restriction
  2.  Implement the policy proposals released by the Canadian Asset
    Management Entrepreneurial Alliance
  3. Review and revise the Qualified Investment (QI) rules in the ITA to address
    unintended consequences

    • Allow registered plans to temporarily hold non-QIs in certain circumstances
    • Extend QI lending permitted in registered plans pursuant to a fully paid securities lending program to registered investments
    • Limit trustee liability in respect of a registered plan that holds a non-QI

Read more here