New Tax Bill Codifies Tax Treatment of Canadian REITs

Thank you to KPMG for the following information:

New Tax Bill Codifies Tax Treatment of Canadian REITs

The federal government tabled a bill in the House of Commons on March 29, 2007 to implement the new tax on distributions from publicly listed or traded trusts and partnerships. For real estate investment trusts (REIT), the new bill changes some of the previously announced conditions for exemption from the new tax. Some of these changes add clarity and flexibility for existing REITs regarding their eligibility for the exemption, while others will put more REITs at risk of being offside.

For more information, read TaxNewsFlash-Canada 2007-17, available on the KPMG website at:

http://www.kpmg.ca/en/services/tax/taxnewsflashcanada.html

Taxation of Real Estate Investment Trusts

Also available is a new publication from KPMG International titled "Taxation of Real Estate Investment Trusts", which offers a high level summary of the REIT regimes in Europe, Asia, the United States and Canada.

For a copy of this publication, visit our website at:

http://www.kpmg.ca/en/services/tax/taxationofrealestate.html