The Financial Post reports in its Tuesday, May 14, edition that Prime Minister Justin Trudeau's government pulled back on a threat to hit some real estate investment trusts in Canada with a new tax regime after opposition from the industry. A Bloomberg dispatch to the Post reports that the finance department posted a three-sentence statement on its website on May 8, saying that "no changes to the tax treatment of REITs are being considered at this time." That removes a risk that has hung over Canadian apartment REITS in particular for more than two years. In March, 2022, Mr. Trudeau -- whose Liberal Party does not have a majority of House of Commons seats -- struck a power-sharing deal with the opposition New Democratic Party, agreeing to a set of promises in return for NDP votes to help pass legislation. One pledge was to tackle the "financialization of the housing market" -- eyeing corporate owners of apartments. In the 2021 election, the Liberals had promised to review tax rules and "curb excessive profits" of large owners of residential properties. Under the REIT structure, profits generally flow through to shareholders and are taxed at that level.