labradore

"We can't allow things that are inaccurate to stand." — The Word of Our Dan, February 19, 2008.

Friday, March 10, 2006

Curiouser and curiouser part umpteen

"Province to Lose Corporate Tax Revenues", reads the VOCM headline:
Finance Minister Loyola Sullivan says Aliant's decision to become an income trust will mean the loss of corporate tax revenues for the province. Some reports suggest the four Atlantic provinces could lose as much as 49 million dollars. Under an income trust, taxes are paid by shareholders who could live anywhere. Sullivan says he knows how much the province will lose, but he can't disclose the figure publicly. Sullivan says they don't know yet when the income loss will be felt.
Questions that may appear on the exam: First, what was the impact on the provincial government's revenue when Cable Atlantic was sold to Rogers in 2000 for $232-million? Secondly, what did Loyola Sullivan have to say about that particular change in corporate ownership and its impact on the provincial government's bottom line?

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