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Please click here to view previous years:
2009 Tax Information
(to follow)
(based on payable date)
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Fund
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2008 |
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Canadian Chartered Banc Split Class A Share
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2009 Tax
Information |
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Canadian Chartered Banc Split Corp Preferred Share
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2009 Tax
Information |
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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 2008. 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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