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20132009
Tax Information
(based on
payable date)
Tax info for
Corporations is reported on
a Canada Customs & Revenue
Agency T5 Form. The
T5 Form is produced by the
broker and mailed to the
investor no later than
February 28. Please contact
your broker regarding T5
enquiries.
Types of Income Earned
-
Capital gains
are taxed at much lower
rates than interest
income, dividend income
and foreign source non
business income. The
capital gains inclusion
rate was 50% for 2009.
The T-3 or T-5 you
receive from your
investment dealer will
show the breakdown of
the capital gains
received from any of the
Quadravest products.
-
Eligible Canadian
Dividends
received from Canadian
companies are taxed at a
much lower rate than
interest income. This is
because the corporation
has already paid tax on
its earnings before
paying a dividend to the
Fund. On your tax
return, you actually
report a grossed-up
dividend and then claim
an offsetting dividend
tax credit. The T-3 or
T-5 you receive from
your investment dealer
will show the breakdown
of the dividend income
received from any of the
Quadravest products.
-
Return of Capital
(Non-taxable)
distributions
received must be used by
the investor to reduce
the adjusted cost base (ACB)
of their shares/units.
This will impact the
capital gains realized
by each investor upon
any future dispositions
of the shares/units. As
an example, if a 50 cent
per unit non-taxable
distribution was
received during the
year, the investor would
reduce the cost base of
each unit by 50 cents.
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