tag:blogger.com,1999:blog-5465015914589377788.post7520702095402806161..comments2024-03-20T09:32:16.592-04:00Comments on Michael James on Money: Eliminating GST on Mutual Funds Unlikely to Help Investors MuchMichael Jameshttp://www.blogger.com/profile/10362529610470788243noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-5465015914589377788.post-18525063811252292692011-04-30T08:56:15.311-04:002011-04-30T08:56:15.311-04:00While Mr Stephenson has a point, someone has to pa...While Mr Stephenson has a point, someone has to pay taxes. The mere fact that taxes raise prices is not a valid argument against them. And these taxes would be paid disproportionately by those with large investment portfolios. What's not to like?<br /><br />If the mutual fund industry (Mr Stephenson aside) is so very concerned about its poor, dejected customers, why are they so focused on the $500M in GST, and not that other $10,000M that's going straight into their own pockets?Patrickhttps://www.blogger.com/profile/16816252455472704262noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-57377483418305129962011-03-30T12:15:07.254-04:002011-03-30T12:15:07.254-04:00@Chris: For mutual funds like Steadyhand's wh...@Chris: For mutual funds like Steadyhand's where fees are fair I have some sympathy. I think a good solution would be to change GST on fees in excess of 1% on equity funds and 0.5% on fixed-income funds. But, this type of fine-tuning is likely to generate even more heated argument.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-1076943209542276942011-03-30T11:57:50.893-04:002011-03-30T11:57:50.893-04:00Even though we aren't competing on fees at Ste...Even though we aren't competing on fees at Steadyhand...we just believe charging 'fair fees' (read low by industry standards) is the right thing to do if you're looking to get good returns....this proposed GST is going to hurt our unitholders. <br /><br />If GST gets passed, we likely have to pass on the costs and raise our fees.Chris Stephensonhttp://www.steadyhand.comnoreply@blogger.com