“…a new generation of CBITs has emerged that are focused on acquiring productive oil and gas assets located in the U.S. or another foreign jurisdiction, avoiding the SIFT rules. It’s likely only a matter of time before CBITs also start acquiring the assets of other types of businesses as well.” –The Globe and Mail
Canadian law firm Bennett Jones has issued a video series on Canadian Cross-Border Income Trusts (CBITs) – also referred to as Foreign Asset Investment Trusts (FAITs) – which issue high yield securities traded on Canada’s TSX, and distribute a large percentage of their cash flow from business conducted in the United States and elsewhere outside of Canada through to investors. For your reference:
1. What is a Canadian Cross-Border Income Trust (CBIT)?
Calgary-based partner Robert McCue explains how CBITs work and, among other things, the benefits for U.S.-based clients.
2. Why choose Canada for a Cross-Border Income Trust (CBIT)?
Toronto-based partner Christian Gauthier on why Canada for a cross-border income trust…
3. What are the tax benefits of a Canadian Cross-Border Income Trust (CBIT)?
Toronto-based partner Thomas A. Bauer on the tax benefits of a Canadian Cross-Border Income Trust (CBIT) for American companies…
4. Why choose Bennett Jones for your Canadian Cross-Border Income Trust (CBIT)?
Bennett Jones lawyers have worked on every CBIT to come to market in the past several years. Calgary-based partner David Phillips fills in the details…
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