Hi there,
To be honest, Canadians owning Master Limited Partnerships (MLPs) bring in complicated tax situations that I am not familiar with. You may also need to file US tax returns. If you are going to invest in an MLP - ensure you talk with a tax specialist to understand the consequences. As I understand it, Canadians don't benefit from the same benefits as US citizens do and they are taxed the same in registered and non-registered accounts, so you can't tax shelter them in your RRSP like you would a traditional US dividend stock. Then there is the entire aspect of potentially having to file US tax returns.
As mentioned, I don't know the very specific details around all of this so I would highly consider speaking with a tax specialist to understand exactly what they entail. Typically Canadians are better off investing in our domicile REITs, pipelines and other MLP-type stocks that provide strong yields here in Canada.
Mat