Tax & Spend
Canada’s Trudeau Backs Away From Tax Threat on Apartment Owners
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The government of Justin Trudeau pulled back on a threat to hit some real estate investment trusts in Canada with a new tax regime after opposition from the industry.
The finance department posted a three-sentence statement on its website on May 8, saying that “no changes to the tax treatment of REITs are being considered at this time.” That removes a risk that’s hung over Canadian apartment REITs in particular for more than two years.