On 12 June 2007, the key measures proposed in Budget 2007, which were contained in Bill C-52, were passed by the House of Commons. The Bill received Royal assent on 22 June 2007. One of the primary tax measures in the Bill was the Tax Fairness Plan, which imposes a new tax on income trusts and other flow-through entities, which were previously tax-free in Canada. The plan also reduces the ge…