Financial Post reads blogs and competition part 2
11 April 2007
Our 7th in a series. Earlier today, FP lecturer Diane Francis discovered that the March 19th budget contained some goofy provisions regarding interest deductibility:
“Two measures in the recent budget have businesses and banks scratching their heads.
Most perplexing is that Canadian corporations cannot write off the interest pawyments on debts used to buy foreign assets. This was billed as a way to get at companies using tax havens to avoid taxes, raising $40-million. Not true.”
Readers of this blog will recall hearing about this issue on March 27th. There was a Globe editorial on it last week, etc., etc.
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