Switch corporations are defined as mutual fund corporations with multiple classes of shares where each class is usually a distinct investment fund. (canadianbusiness.com)
Mutual fund corporations collect and manage the money of other people for investment purposes. (youngfinances.com)
The Budget will also «prevent the asymmetrical recognition of gains and losses on derivatives for tax purposes,» and «prevent the deferral of capital gains tax by investors in mutual fund corporations structured as switch funds.» (moneysense.ca)