An umbrella group for Toronto's financial industry has joined the chorus calling on Ottawa to cut dividend taxes and level the playing field with income trusts. The Toronto Financial Services Alliance submitted its recommendations to the Finance Department yesterday, and warned that any attempt to fiddle with the $140-billion trust sector could "heighten risk" for anyone considering an investment in Canada. "You want investors to have confidence in the ability of your regulatory structure, and confidence that government isn't going to change the rules mid-stream," said Janet Ecker, the former Ontario finance minister who serves as executive director of the TFSA. "This isn't just about big investors or folks on Bay Street getting their year-end bonuses. This is about one million small investors out there" who are relying on trusts to fund their retirement.
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