The flyer, which appears on letterhead similar to that used in some government agencies, claims that the bonds are sponsored and guaranteed by the Government of Ontario. The Government of Ontario has not issued, sponsored or guaranteed any bonds in the name Ontario Heritage Bond Program. Sponsored and guaranteed by the Government of Ontario. Proceeds to be used to fund the preservation of historic structures in Ontario. Paying 10 percent per year paid semi-annually.
Subscriptions are tax free if held to maturity.
Government bonds such as Canada or Ontario Savings Bonds are an excellent and secure way to engage in minimal risk investing. Knowing this, unscrupulous individuals can attempt to claim some level of government association as a means to lure potential investors into a false sense of security. Any time you are offered a tax free investment, such as outlined above, you should consult with your professional financial adviser or accountant. Failure to do so could be contrary to your best interests and lead to the risk of a tax liability at a later date. If you have been approached to invest in this or a similar investment scheme please contact your provincial securities regulator.