EXPM:EGRGF - Post by User
Post by
JReynoldson Dec 19, 2010 1:30am
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Post# 17867193
Reply from CRA
Reply from CRAI too am waiting for the reply from CRA on their position. But I can safely assume since Eagle has fulfilled the three conditions : holding only a portfolio of assets related directly to generating income, not holding any assets outside of the ones generating income, and finally not having any income from inside Canada, this should fulfill CRA's requirement. I read through some basic bulletins from CRA on being a Mutual Funds Trust, and its differences compared against the normal SIFT Trust - I believed Eagle has complied with all requirements.
The only snag I am concerned with is if the IRS will try to impose more taxes next year when they feel that Eagle is 'ripping them' off in terms of the taxation. Surely the IRS will know that the income is generated ONLY in The US, hence, the taxes imposed should be higher.