Horizons ETFs Assessing Impact of Proposed Federal Tax Changes
TORONTO, March 20, 2019 /CNW/ - Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") is assessing the potential impact of proposed legislative changes tabled by the Minister of Finance in the Federal Budget on March 19, 2019, on its family of exchange traded funds. Based on its preliminary assessment, Horizons ETFs has determined that the exchange traded funds listed on the table below (the "ETFs") could be impacted by the changes after their 2019 taxation years.
The proposed legislative changes, which would not take effect with respect to the ETFs until after their respective 2019 taxation years (ending either December 15 or December 31), deal with how certain investment funds are able to allocate income and capital gains to redeeming entities. If the ETFs were to continue to carry on operations after their 2019 taxation years in the same manner as they do currently, the proposed legislative changes could potentially result in taxable distributions to the unitholders of the ETFs in respect of periods after their 2019 taxation years.
Horizons ETFs does not anticipate any impact to the tax treatment of its ETFs for their 2019 taxation years. Horizons ETFs is assessing the potential tax impact on the ETFs after their 2019 taxation years with its legal and tax advisors, as well as other industry participants, and is actively pursuing alternatives to mitigate any potential future tax impact on the ETFs or their unitholders.
Horizons ETFs will provide an update following further assessment of the proposed legislative changes.
Horizons S&P/TSX 60™ Index ETF
Horizons S&P 500® Index ETF
Horizons S&P/TSX Capped Energy Index ETF
Horizons S&P/TSX Capped Financials Index ETF
Horizons Cdn Select Universe Bond ETF
Horizons US 7-10 Year Treasury Bond ETF
Horizons NASDAQ-100® Index ETF
Horizons EURO STOXX 50® Index ETF
Horizons Cdn High Dividend Index ETF
Horizons S&P 500 CAD Hedged Index ETF
Horizons US 7-10 Year Treasury Bond CAD Hedged ETF
Horizons Intl Developed Markets Equity Index ETF
Horizons Conservative TRI ETF Portfolio
Horizons Balanced TRI ETF Portfolio
Horizons Equal Weight Canada REIT Index ETF
Horizons Laddered Canadian Preferred Share Index ETF
Horizons Equal Weight Canada Banks Index ETF
BetaPro S&P 500 VIX Short-Term Futures™ ETF
Horizons Gold ETF
Horizons Silver ETF
Horizons Crude Oil ETF
Horizons Natural Gas ETF
BetaPro Gold Bullion 2x Daily Bull ETF
BetaPro Gold Bullion -2x Daily Bear ETF
BetaPro Crude Oil 2x Daily Bull ETF
BetaPro Crude Oil -2x Daily Bear ETF
BetaPro Natural Gas 2x Daily Bull ETF
BetaPro Natural Gas -2x Daily Bear ETF
BetaPro Silver 2x Daily Bull ETF
BetaPro Silver -2x Daily Bear ETF
BetaPro S&P/TSX 60™ 2x Daily Bull ETF
BetaPro S&P/TSX 60™ -2x Daily Bear ETF
BetaPro S&P/TSX Capped Financials™ 2x Daily Bull ETF
BetaPro S&P/TSX Capped Financials™ -2x Daily Bear ETF
BetaPro S&P/TSX Capped Energy™ 2x Daily Bull ETF
BetaPro S&P/TSX Capped Energy™ -2x Daily Bear ETF
BetaPro Canadian Gold Miners 2x Daily Bull ETF
BetaPro Canadian Gold Miners -2x Daily Bear ETF
BetaPro S&P 500® 2x Daily Bull ETF
BetaPro S&P 500® -2x Daily Bear ETF
BetaPro NASDAQ-100® 2x Daily Bull ETF
BetaPro NASDAQ-100® -2x Daily Bear ETF
BetaPro S&P/TSX 60™ Daily Inverse ETF
BetaPro S&P 500® Daily Inverse ETF
Horizons Morningstar Hedge Fund Index ETF
About Horizons ETFs Management (Canada) Inc. (www.HorizonsETFs.com)
Horizons ETFs Management (Canada) Inc. is an innovative financial services company and offers one of the largest suites of exchange traded funds in Canada. The Horizons ETFs product family includes a broadly diversified range of solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Horizons ETFs has more than $10 billion of assets under management and 86 ETFs listed on major Canadian stock exchanges. Horizons ETFs Management (Canada) Inc. is a member of the Mirae Asset Global Investments Group.
Certain statements may constitute a forward looking statement, including those identified by the expressions "estimate" or "expect" and similar expressions (including grammatical variations thereof) to the extent they relate to the ETFs or Horizons ETFs. The forward-looking statements are not historical facts but reflect the ETFs, the ETF's managers or Horizons ETFs current expectations regarding future results or events. These forward- looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. These and other factors should be considered carefully and readers should not place undue reliance on the ETFs' forward looking statements. These forward-looking statements are made as of the date hereof and the ETFs do not undertake to update any forward-looking statement that is contained herein, whether as a result of new information, future events or otherwise, unless required by applicable law.
Commissions, management fees and expenses all may be associated with investments in the ETFs. The ETFs are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus before investing.
SOURCE Horizons ETFs Management (Canada) Inc.