QUOTE:

“The federal government acted too aggressively in its decision to tax income trusts and unnecessarily roiled valuations for investors...Markets and investors would have been better served by a more cautious approach.”

It wouldn’t have had as dramatic an impact on the market, and it probably would have cooled out the income trust marketplace . One could have stretched the tax over a number of years ... but by doing it overnight in one fell swoop, it’s had a very unfortunate and heavy impact on valuations.

FROM: Reuters
Report by Jonathan Spicer on market drop following trust tax announcement

The Association represents 200 registered investment dealers in Canada