Exactly! The system allows wealthy families to defer indefinitely, in other words, until the death of the last heir-this could go on forever!-all taxes, not only on the capital deposited in these trusts, but also on the interest generated by the trusts which themselves are not subject to tax.
A number of analysts estimate, unlike what the Minister of Finance claimed this afternoon, that the government could obtain at least $350 million annually in new federal revenue from this source-