Usually the Department of Finance waits until closer to Christmas to release draft legislation. Thus Finance wreaks its revenge on tax practitioners by forcing them to read its opaque, sometimes stupefying prose during the Christmas break.
Christmas came early this year, however: Finance just released (yet another round) of draft legislation on non-resident trusts and foreign investment entities. And this time, Finance sounds like it means it! The new legislation will have effect for years that begin after 2006.
