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What are the tax benefits of Canadian oil and gas limited partnerships?

At this time of the year, Canadian investors are reminded about taxes, especially investors who look for tax shelters to offset taxable gains earned this year.

One such tax shelter is a limited partnership investment. The investments vary, but when it comes to investing in Canadian oil and gas limited partnerships, the government rewards investors with the highest tax write-off available. While the up-front tax benefits are sweet, there are tax implications upon redemption so investors would be wise to discuss these investments with both a trusted financial advisor and a professional accountant. A financial advisor can discuss the limited partnership investments available but they may not be qualified to discuss the tax implications. Characteristics of Canadian oil and gas limited partnerships Your best strategy: