No. Already, in a strong economic period with no new taxes needing to be paid, close to one-third of the business income trusts have suspended or massively slashed their distribution. That has nothing to do with income trust tax.
They had to slash because they were set too high. Then when there was a hiccup in the business, or simply when management determined it was time to do replacement of assets and they couldn't get new financing, they were forced to do a cut. In some cases the banks themselves allowed this degree of leverage and high distribution to occur at the beginning so they could get the product out the door at a premium price and get the maximum fees out of it. They were the ones that said, “Okay, now that you've reached your covenants you need to cut.” The minute they cut.... Too many of them have occurred. We think at least half the business income trust market will go there.