Seg fund extension

If you own any segregated funds and you’ve been concerned about the federal government’s threat to bring them under the foreign content rules, you can relax for another year.

Ottawa had previously announced that seg funds, which have been exempt from the limits until now, would be brought into line effective Jan. 1, 2001. In the February budget, however, Finance Minister Paul Martin extended the grace period for another year, to the beginning of 2002.

By that time, who knows – maybe the whole idea of foreign content limits will have gone by the wayside.