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On last Friday’s Alternative Investing our topic was web-based person-to-person (P2P) lending, and our guest was Michael Garrity, CEO of CommunityLend.
In recent years, the internet has facilitated the “disintermediation” of many activities, such as dating, buying and selling, and loans between individuals. Sites such as CommunityLend have been a great success in the UK and the U.S., and Michael is actively seeking a similar success in his venture.
It remains to be seen if this type of micro-lending will take off as an alternative investment in Canada, but Michael has certainly put the pieces in place from a regulatory and organizational point of view to establish CommunityLend as the leader in the space.
This week we will welcome Stella Gasparro, a partner at Myers Norris Penny in Toronto, who will join us to talk about the important issue of tax and alternative investing. We plan to discuss tax from the point of view of the limited partnerships and mutual fund trusts that generally manage investors’ funds in alternatives, as well as the taxation of distributions in the hands of investors.
We welcome your emails to firstname.lastname@example.org and will try to answer as many of your tax-related questions as possible during next week’s show.
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