TORONTO, April 5, 2016 /CNW/ - The federal budget announced on March 22, 2016 proposed changes which would eliminate the tax deferred exchangeability of funds within a corporate class structure. Beginning on October 1, 2016, an exchange of shares between classes by an investor will trigger a disposition for capital gain/loss reporting purposes.
Counsel Portfolio Services Inc. (Counsel) is evaluating the full impact the proposal will have on investors in Counsel Corporate Class Portfolios. Counsel is awaiting further guidance from the Federal Government with respect to implementation of the proposal. Investors are encouraged to speak to their Advisor about these changes and their impact.
The portfolios continue to operate in the same manner as prior to the budget announcement.
The proposal affects all of the Counsel Corporate Class Portfolios including:
Counsel Conservative Portfolio Class
Counsel Balanced Portfolio Class
Counsel Growth Portfolio Class
Counsel All Equity Portfolio Class
Counsel Short Term Fixed Income Class
Counsel Canadian Dividend Class
Counsel Canadian Value Class
Counsel Canadian Growth Class
Counsel U.S. Value Class
Counsel U.S. Growth Class
Counsel International Value Class
Counsel International Growth Class
Counsel Global Small Cap Class
About Counsel Portfolio Services Inc.
Counsel Portfolio Services Inc. is a direct subsidiary of IPC Portfolio Services Inc., which is a direct subsidiary of Investment Planning Counsel Inc. Counsel provides comprehensive, objective portfolio solutions utilizing the strength and expertise of third party portfolio managers.
SOURCE Counsel Portfolio Services Inc.
For further information: Evelyn Juan, Environics Communications, Phone: 416-969-2758, Email: email@example.com