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Melissa Shin After a two-year break, the federal government is pressing forward with proposed changes to how mutual fund trusts allocate income and capital gains when unitholders make redemptions. The 2021 budget implementation bill tabled on April 30 contains legislation nearly identical to what was tabled in July 2019, except the new bill does not apply to tax years beginning before Dec. 16 for any exchange-traded mutual fund trusts — i.e., ETFs. The Department of Finance “hasn’t managed to sort out what the appropriate rules should be with respect to ETFs, and want to give themselves...

Melissa Shin After a two-year break, the federal government is pressing forward with proposed changes to how mutual fund trusts allocate income and capital gains when unitholders make redemptions. The 2021 budget implementation bill tabled on April 30 contains legislation nearly identical to what was tabled in July 2019, except the new bill does not apply to tax years beginning before Dec. 16 for any exchange-traded mutual fund trusts — i.e., ETFs. The Department of Finance “hasn’t managed to sort out what the appropriate rules should be with respect to ETFs, and want to give themselves...