An accountant from Steinbach calls it great news for seniors.John Klippenstein is referring to the federal government's decision to allow income splitting for pensioners beginning next year and an increase in the age credit amount for this year.  Klippenstein says that was the good news in Tuesday's announcement by the federal finance minister.  But he says there was also bad news.  Klippenstein says the bad news is that income trusts will now be taxed like corporations.  That announcement caused a downturn in the Toronto Stock Market Wednesday.
Klippenstein says that's a typical illogical reaction that investors have when they get bad news.