Tax Information

The general information provided here is intended to assist Noranda Income Fund Unitholders with the tax status of cash distributions for income tax purposes. Unitholders should consult their tax advisor for advice pertaining to their particular circumstances.

A Noranda Income Fund Unitholder who holds units outside a tax deferred plan (e.g. RRSP, RRIF or RESP) will generally be required to include in computing income for tax purposes for a particular taxation year the portion of the distributions received that is "Taxable Income". A T3 income tax slip will be issued to all Unitholders in the first quarter of each year confirming the taxable portion of the distributions. The portion of the distributions classified as Return of Capital for income tax purposes are tax-deferred and will generally not be included in the computation of taxable income of a Unitholder until the units are sold.

2016
The 2016 tax treatment of the distributions was:
Distributions for T3/R16:
Eligible dividends 94.9%
Return of capital 5.1%
For both the T3 and R16, View 2016 Statement of Trust Income Allocations and Designations (T3/R16) as PDF (419 K).

2015
The 2015 tax treatment of the distributions was:
Distributions for T3/R16:
Eligible dividends 97.4%
Return of capital 2.6%
For both the T3 and R16, View 2015 Statement of Trust Income Allocations and Designations (T3/R16) as PDF (36 K).

2014
The 2014 tax treatment of the distributions was:
Distributions for T3/R16:
Eligible dividends 93.4%
Return of capital 6.6%
For both the T3 and R16, View 2014 Statement of Trust Income Allocations and Designations (T3/R16) as PDF (552 K).

2013
The 2013 tax treatment of the distributions was:
Distributions for T3/R16:
Eligible dividends 100%
For both the T3 and R16, View 2013 Statement of Trust Income Allocations and Designations (T3/R16) as PDF (32 K).

2012
The 2012 tax treatment of the distributions was:
Distributions for T3/R16:
Eligible dividends 100%
For both the T3 and R16, View 2012 Statement of Trust Income Allocations and Designations (T3/R16) as PDF (23 K).

2011
Information and tax treatment of the 2011 In-Kind Distribution as PDF (36 KB).

The 2011 tax treatment of the distributions was:
Distributions for T3/R16:
Eligible dividends 100%
For both the T3 and R16, View 2011 Statement of Trust Income Allocations and Designations (T3/R16) as PDF (31 K).

2010
Information and tax treatment of the 2010 In-Kind Distribution as PDF (36 KB).

The 2010 tax treatment of the distributions was:
Distributions for T3/R16:
Income 99%
Return of capital 1%
For both the T3 and R16, View 2010 Statement of Trust Income Allocations and Designations (T3/R16) as PDF (31 K).

2009
The 2009 tax treatment of the distributions was:
Distributions for T3/R16:
Income 92%
Return of capital 8%
For both the T3 and R16, View 2009 Statement of Trust Income Allocations and Designations (T3/R16) as PDF (19 K).

2008
The 2008 tax treatment of the distributions was:
Distributions for T3/R16:
Income 85%
Return of capital 15%
For both the T3 and R16, View 2008 Statement of Trust Income Allocations and Designations (T3/R16) as PDF (23 K) or Excel (137 K) file.

2007
The 2007 tax treatment of the distributions was:
Distributions for T3/R16:
Income 92%
Return of capital 8%
For both the T3 and R16, View 2007 Statement of Trust Income Allocations and Designations (T3/R16) as PDF (21 K) or Excel (103 K) file.

2006
The 2006 tax treatment of the distributions was:
Distributions for T3/R16:
39% return of capital
60% taxable income
1% capital gain
View 2006 Statement of Trust Income Allocations and Designations ( T3/R16 )
as PDF (22 K) or Excel (105 K) file.

2005
The 2005 tax treatment of the distributions was:
Distributions for T3:
43% return of capital
25% taxable income
32% capital gain
View 2005 Statement of Trust Income Allocations and Designations ( T3 ) as PDF (25 K) or Excel (53 K) file.

Distributions for R16 (Québec) :
43% return of capital
19% taxable income
38% capital gain
View 2005 Statement of Trust Income Allocations and Designations ( T3) as PDF (25 K) or Excel (54 K) file.

2004
The 2004 tax treatment of the distribution was:
95% Return of Capital (for R16: Québec – Provincial = 95%)
5% Taxable Income (for R16: Québec – Provincial = 5%)

View 2004 Statement of Trust Income Allocations and Designations (Form T3) as PDF (69 K) or Excel file (70 K).

2003
The 2003 tax treatment of the distribution was:
95% Return of Capital (for R16: Québec – Provincial = 95%)
5% Taxable Income (for R16: Québec – Provincial = 5%)

View 2003 Statement of Trust Income Allocations and Designations (Form T3) as PDF (64 K) or Excel file (64 K).

2002
The 2002 tax treatment of the distribution was:
94% Return of Capital (for R16: Québec – Provincial = 94%)
6% Taxable Income (for R16: Québec – Provincial = 6%)

View 2002 Statement of Trust Income Allocations and Designations (Form T3) as PDF (10 K) or Excel file (81 K).

Calculation of Adjusted Cost Base (ACB)
Upon the sale of units, a Unitholder is required to determine the Adjusted Cost Base ("ACB") of the Fund units sold by reducing the original purchase cost by any distributions received in the form of Return of Capital. The ACB is used to compute the gain or loss on the sale of the units.

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