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The market growth GICs or market stock-indexed GICs have their interest rates determined by the rate of growth of a specific stock market (such as the TSX or S&P 500).For example; if the TSX has a market growth increase of 30% in three years, beginning at the same point in time the GIC was issued, the GIC will return with an interest of 30%.
For much of the 20th century, Canada's trust companies were controlled by the major banks through interlocking directorates. However, revisions to the Bank Act in 1967 forbade individuals from sitting on a bank and trust company board simultaneously; this had been a recommendation in the 1964 Report of the Royal Commission on Banking and ...
If the retained interest is valued under Code section 7520, its value will be greater than zero, and the gift value is minimized. Code section 7520 values the remainder interest using the term of the trust, the life expectancy of the grantor and the 7520 rate in effect for the month of the transfer. The longer the term of the trust and the ...
An income trust is an investment that may hold equities, debt instruments, royalty interests or real properties. It is especially useful for financial requirements of institutional investors such as pension funds, [1] and for investors such as retired individuals seeking yield.
A Mutual fund trust (MFT) is a type of Canadian investment portfolio which is popular in Canada due to favorable taxation laws. It is a type of unit trust which must also comply with section 132 of the Canadian Income Tax Regulation Act 4801. [1] The members of a mutual fund trust are called unitholders.
Equitable Bank was founded under the name The Equitable Trust Company in 1970 in Hamilton, Ontario, Canada. [9] The Trust company was headquartered at 1 James Street South. By 1990, The Equitable Trust Company became an operating company with $50 million in assets and four employees in its Toronto office.
The Alberta Heritage Savings Trust Fund (HSTF) is a sovereign wealth fund established in 1976 [1]: 10 [2] by the Government of Alberta under then-Premier Peter Lougheed. [1]: 10 [2] The Heritage Savings Trust Fund was created with three objectives: "to save for the future, to strengthen or diversify the economy, and to improve the quality of life of Albertans."
The Henson trust was first used in Ontario in the late 1980s. It became of wider interest when the Supreme Court of Ontario ruled in 1989 that the trust assets were not vested in the beneficiary and thus could not be used to terminate government benefit programs. A Henson trust can be established as either a living trust, or a testamentary trust.