Business News • MarketWire • Brookfield High Yield Strategic Income Fund and Brookfield New Horizons Income Fund Comment on Recent Federal Budget Provisions |
Brookfield High Yield Strategic Income Fund and Brookfield New Horizons Income Fund Comment on Recent Federal Budget Provisions |
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Brookfield High Yield Strategic Income Fund and Brookfield New Horizons Income Fund Comment on Recent Federal Budget Provisions
TORONTO, ONTARIO--(Marketwire - March 27, 2013) - Brookfield High Yield Strategic Income Fund (TSX:BHY.UN) and Brookfield New Horizons Income Fund (CNSX:BIF.UN) responded today to the recent Federal Budget provisions with respect to character conversion transactions. On March 21, 2013, the Minister of Finance announced proposed measures (the "Measures") which would affect certain tax benefits gained by taxable Canadian unitholders of investment funds, such as Brookfield High Yield Strategic Income Fund and Brookfield New Horizons Income Fund (collectively, the "Funds"), that utilize forward purchase and sale agreements to obtain exposure to an underlying reference portfolio. The Funds' forward purchase and sale agreements provide unitholders with tax-advantaged distributions which are generally return of capital and capital gains.
View More : http://www.marketwire.com/mw/release.do?id=1772652&sourceType=3
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