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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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