Now we wait...... I'm curious what price range the SIB will be purchasing stocks back at.
As a Canadian individual investor if you stocks are in a cash account, this make no sense for tax implication. As you'll get a dividend from the $3.29(ish) value to the purchase price, while selling you shares in the market is a capital gain based on sell price minus ACB. So, SIB makes no sense.
For you TFSA or RRSP account there is no tax implication so if you think SIB price will be higher than market might be a way to flip share and re-buy and makes a few dollars.
But if you have mutual funds that own HCG, this might be a good way to reduce their position and not incur capital gains. I'm not sure of tax consequences for them, is their no tax consequences and the gain just shown in the mutual funds value and only when the unit holder disposes does their become a tax consequence?