CRA Rollover Form Partnership Class A Shares + Cash Option

Similar documents
CRA Rollover Form Partnership Unit Option

ELECTION ON DISPOSITION OF PROPERTY BY A PARTNERSHIP TO A TAXABLE CANADIAN CORPORATION

SUBJECT: Letter of Instruction for Eligible Former Bonterra Energy Income Trust (the Trust ) Unitholders

Mount Bastion Oil & Gas Corp. Share Exchange Instructions for Completion of S.85(1) Rollover Form

Tax Instruction Letter

PREMIUM INCOME CORPORATION

TAX ELECTION FILING PACKAGE

TAX ELECTION INSTRUCTIONS

TAX ELECTION FILING PACKAGE. Bellamont Exploration Ltd. Storm Resources Ltd.

TAX INSTRUCTION LETTER

NEW ISSUE January 24, 2018 SHORT FORM PROSPECTUS

CANADIAN BANC CORP. $68,065,250 2,915,000 Preferred Shares and 2,915,000 Class A Shares

TDb SPLIT CORP. Priority Equity Shares. Class A Shares ANNUAL INFORMATION FORM

THIS MATTER REQUIRES YOUR IMMEDIATE ATTENTION. THE DEADLINE TO SUBMIT DOCUMENTS FOR EXECUTION BY TRINIDAD IS JULY 31, 2008.

ANNUAL INFORMATION FORM FOR THE YEAR ENDED DECEMBER 15, January 20, 2015

New Issue September 15, 2015 SHORT FORM PROSPECTUS. $11,217, ,143 Class B Preferred Shares, Series 2. Price: $19.71 per Preferred Share

MCM Split Share Corp.

TAX ELECTION INSTRUCTIONS FOR THE DISPOSITION OF INTEGRA GOLD CORP. COMMON SHARES ( Integra Shares ) ( TAX PACKAGE )

WORLD FINANCIAL SPLIT CORP. NOTICE OF SPECIAL MEETING OF SHAREHOLDERS AND MANAGEMENT INFORMATION CIRCULAR

New Issue PROSPECTUS September 15, $23,354,283 1,238,954 Class B Preferred Shares, Series 1. Price: $18.85 per Class B Preferred Share, Series 1

LETTER OF INSTRUCTION FOR ELECTING SHAREHOLDERS OF KILLAM PROPERTIES INC. ("Killam")

SECTION 85 TRANSFERS - INCOME TAX CONSIDERATIONS

New Issue/Re-Opening January 27, 2006

ANNUAL INFORMATION FORM FIRST PREMIUM INCOME TRUST

MULVIHILL PRO-AMS 100 PLUS (CDN$) TRUST

No securities regulatory authority has expressed an opinion about these securities and it is an offence to claim otherwise.

SHORT FORM PROSPECTUS. Warrant Offering November 6, Warrants to Subscribe for up to 2,949,146 Units at a Subscription Price of $7.

$150,000,000 (Maximum) 6,000,000 Preferred Shares and 6,000,000 Class A Shares

ANNUAL INFORMATION FORM

TOP 10 CANADIAN FINANCIAL TRUST NOTICE OF SPECIAL MEETING OF UNITHOLDERS AND MANAGEMENT INFORMATION CIRCULAR

ANNUAL INFORMATION FORM

AGNICO-EAGLE MINES LIMITED DIVIDEND REINVESTMENT

NOTICE OF MEETING AND INFORMATION CIRCULAR

PROSPECTUS. Initial Public Offering October 27, Dividend Select. $250,000,000 (Maximum) 25,000,000 Shares

The Toronto-Dominion Bank (a Canadian chartered bank)

This bulletin cancels and replaces Interpretation Bulletin IT-66R5 dated July 22, Current revisions are designated by vertical lines.

HSBC Bank Canada. (a Canadian chartered bank) $175,000,000 7,000,000 Non-Cumulative 5-Year Rate Reset Class 1 Preferred Shares Series E

IMP /R1 Tax Treatment of Certain Expenses (Interest and Property Taxes) in Relation to Land Date of publication: November 30, 1994

Part 35. Brookfield Property Split Corp. Class A Senior Preferred Shares

Canadian Imperial Bank of Commerce

NOTICE OF SPECIAL MEETING AND MANAGEMENT INFORMATION CIRCULAR MARRET RESOURCE CORP.

Royal Bank of Canada $200,000,000 8,000,000 Non-Cumulative First Preferred Shares Series AC

$125,000,000 5,000,000 Non-Cumulative 5-Year Rate Reset First Preferred Shares Series 9 (Non-Viability Contingent Capital (NVCC))

New Generation Biotech (Equity) Fund Inc.

$150,000,000 (6,000,000 shares) Cumulative Redeemable Second Preferred Shares Series BB

$125,000,000 (5,000,000 shares) Cumulative Redeemable Second Preferred Shares Series EE

Table of Contents. General Information INCOME TAX INFORMATION CIRCULAR

Royal Bank of Canada $250,000,000 10,000,000 Non-Cumulative First Preferred Shares Series AE

SECTION 86 ROLLOVERS, AMALGAMATIONS, SECTION 88 WIND-UPS

PREMIUM INCOME CORPORATION

1. (1) Paragraph ( b ) of the definition outstanding debts to specified non-resi- dents in subsection 18(5) of the Income Tax Act

CANOE EIT INCOME FUND

Notice of Special Meeting of Shareholders

Annual Report to Shareholders

Royal Bank of Canada. $150,000,000 6,000,000 Non-Cumulative First Preferred Shares, Series BH (Non-Viability Contingent Capital (NVCC))

MACKENZIE MASTER LIMITED PARTNERSHIP ANNUAL INFORMATION FORM

Certain Canadian Federal Income Tax Considerations

Voya Diversified Floating Rate Senior Loan Fund

$250,000,000. Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 16 (10,000,000 Shares)

ANNUAL INFORMATION FORM FOR THE FISCAL YEAR ENDED MAY 21, 2017

SECTION 85 TRANSFERS - ADDITIONAL TAX CONSIDERATIONS

Schedule B. Brookfield Office Properties Inc. (the Corporation )

The Bank of Nova Scotia Shareholder Dividend and Share Purchase Plan

Schedule A. Brookfield Renewable Power Preferred Equity Inc. (the Corporation )

$100,000,000 (Maximum) Up to 4,000,000 Preferred Shares and 4,000,000 Class A Shares $10.00 per Preferred Share and $15.00 per Class A Share

TAX INSTRUCTION LETTER

is a registration number for businesses such as corporations, partnerships, and sole proprietorships. Trust account number

see schedule 3. ENCUMBRANCES, LIENS AND INTERESTS The within document is subject to instrument number(s)

Number and Designation of and Rights, Privileges, Restrictions and Conditions Attaching to the Class AAA Preference Shares, Series T

Explanatory Notes Relating to the Income Tax Act, Excise Tax Act, Excise Act, 2001 and Related Texts

Manulife Financial Corporation

ENERVEST DIVERSIFIED INCOME TRUST

Marathon Mortgage Corp. Adjustable Rate Mortgage Schedule

PREMIER CANADIAN INCOME FUND

$250,000,000 (10,000,000 Shares) Non-cumulative 5-Year Rate Reset Preferred Shares Series 26

see schedule 3. ENCUMBRANCES, LIENS AND INTERESTS The within document is subject to instrument number(s)

Price: $25.00 per share to yield 5.25%

New Issue April 3, 2007 Prospectus Supplement. HSBC Bank Canada. (a Canadian chartered bank)

Royal Bank of Canada $15,000,000,000 Debt Securities (Unsubordinated Indebtedness) Debt Securities (Subordinated Indebtedness) First Preferred Shares

Trez Capital Mortgage Investment Corporation $100,000,000 (10,000,000 Class A Shares) Maximum $10.00 per Class A Share

Canacrâ. Draft Legislation to Amend the Income Tax Act and Related Statutes t. Issued by The Honourable Michael H. Wilson Minister of Finance

Request by a Non-Resident of Canada for a Certificate of Compliance Related to the Disposition of Taxable Canadian Property INSTRUCTIONS T2062

Prospectus Supplement to the Short Form Base Shelf Prospectus dated December 13, 2016.

LETTER OF TRANSMITTAL WITH RESPECT TO THE COMMON SHARES OF RAPIER GOLD INC.

EAST COAST INVESTMENT GRADE INCOME FUND ANNUAL INFORMATION FORM

UNITS OF OIL SANDS SECTOR FUND ANNUAL INFORMATION FORM. For the year ended December 31, 2013

INCOME ATTRIBUTION RULES AND GIFTING - PLANNING CONSIDERATIONS

Maximum: $125,000,000 (Maximum: 10,416,667 Class A Units and/or Class F Units) $12.00 per Class A Unit or Class F Unit

CKR CARBON CORPORATION PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT (FLOW-THROUGH SHARES) INSTRUCTIONS TO SUBSCRIBER

ING FLOATING RATE SENIOR LOAN FUND

SHARE PURCHASE TRANSACTIONS PART 1

Prospectus Supplement to the Short Form Base Shelf Prospectus dated November 18, 2008

PLEASE READ THIS MATERIAL CAREFULLY AS YOU ARE REQUIRED TO MAKE A DECISION PRIOR TO 5:00 P.M. (SASKATOON TIME) ON DECEMBER 7, 2018

Royal Bank of Canada

Income Tax INTERPRETATION AND ADMINISTRATIVE BULLETIN CONCERNING THE LAWS AND REGULATIONS

INFORMATION CONCERNING CLAIMS FOR TREATY-BASED EXEMPTIONS

Contents. Application. Summary INCOME TAX INTERPRETATION BULLETIN

ENBRIDGE INC. $750,000, ,000,000 Cumulative Redeemable Minimum Rate Reset Preference Shares, Series 17

February 3, The Notes will not constitute deposits insured under the Canada Deposit Insurance Corporation Act.

Income Tax APPLICATION OF THE ACT

Transcription:

CRA Rollover Form Partnership Class A Shares + Cash Option

Canada Customs and Revenue Agency Agence des douanes et du revenu du Canada ELECTION ON DISPOSITION OF PROPERTY BY A PARTNERSHIP TO A TAXABLE CANADIAN CORPORATION For use by a taxable Canadian corporation and all the members of a partnership, to jointly elect under subsection 85(2) where the partnership has disposed of to the corporation and has received as consideration shares of any class of capital stock of the corporation. Do t use this area File one completed copy of the election and related schedules (if any) as follows: 1- by a partner designated for the purpose by the partnership; 2- on or before the earlier date on which any party to the election has to file an income tax return for the taxation year in which the transaction occurred (due date); 3- at the tax centre serving the area where the partnership is located; and 4- separately from any tax returns. You may put it in the same envelope with a return, but do t insert it in or attach it to the return. Sections and subsections referred to on this form are from the Income Tax Act. Name of partnership (transferor) (print) Address Partnership identification number Postal code Taxation year of partnership from Year Month Day Year Month Day Tax services office to Name of corporation (transferee) (print) Business Number S Split Corp. 8 2 5 8 9 3 5 6 3 Address Postal code 121 King Street West, Standard Life Centre, Suite 2600, Toronto, ON M5H 3T9 Taxation year of Year Month Day Year Month Day Tax services office corporation to from 2007 2007 1 2 3 1 Sudbury Name of person to contact for more information Area code Telephone number Penalty for late-filed and amended elections An election that is filed after its due date is subject to a late-filing penalty. Form T2058 can be filed within 3 years after its due date if an estimate of the penalty is paid at the time of filing. Form T2058 can be amended or filed after the 3-year period, but in these situations, attach both an estimate of the penalty and a written submission for consideration by the Minister, explaining the reason why the election is amended or late. Do t use this area Calculation of late-filing penalty: Fair market value of transferred................. Less: agreed amount............................. Difference...................................... A Amount A x 1/4 x 1% x N* ( N*= )... = B $100 x N*.................................... = C *N represents the sum of each month or each part of a month in the period from the due date to the actual filing date. Amount C cant exceed $8,000. Late-filing penalty is the lesser of B and C above........... Make cheque or money order payable to the Receiver General. Specify "T2058" on the remittance and, to ensure proper credit, indicate the name and social insurance number of the taxpayer, or Business Number if a corporation. Amount enclosed Unpaid amounts, including late-filing penalties, are subject to daily compound interest at a prescribed rate. T2058 (05) Page 1 of 3 Source: Canada Customs and Revenue Agency. Reproduced by SignForm.

Information required On the opposite page, list, describe, and state the fair market value of properties transferred. The description and fair market value of the consideration received has to be shown opposite the related transferred. Where the transferred is a partnership interest, attach a schedule of the calculation of the adjusted cost base. If space on the form is insufficient, attach schedules giving similar details. You have to designate the order of disposition of each depreciable. With this election, you do t have to file the following materials: schedules supporting this designation; documentation relating to the responses to the questions below; and a brief summary of the method of evaluating the fair market value of each transferred. However, you have to keep them as Canada Revenue Agency may ask to see them at a later date. 1. Is there a written agreement relating to this transfer?............................................. 2. Does a price adjustment clause apply to any of the properties? (See Interpretation Bulletin IT-169 for details.).... 3. Do any persons other than the members of the partnership own or control, directly or indirectly, any shares of any class of the transferee?................................................................ 4. Does a n-arm s length rollover exists between the partnership(s), and the transferee corporation....... a) have all or substantially all (90% or more) of the properties of any partner been transferred to the corporation?......................................................................... 5. Are any partners n-residents of Canada?.................................................... 6. Are any of the properties transferred capital properties?.......................................... If "," a) have they been owned continuously since Valuation Day (V-Day)?.............................. b) have they been acquired after V-Day in a transaction considered t to be at arm's length?.......... c) since V-Day, has the partnership or any person from whom shares were acquired in a n-arm's length transaction received any subsection 83(1) dividends for transferred shares? (If "", provide details of amounts and dates received, and attach a schedule.)............................. 7. Is the agreed amount of any of the transferred properties based on an estimate of fair market value on V-Day?... a) If "," does a formal documented V-Day value report exist?.................................. 8. Has an election under subsection 26(7) of the Income Tax Application Rules (Form T2076) been filed by or on behalf of the transferor?................................................................. Where shares of the capital stock of a private corporation are included in the disposed of, provide the following: Name of corporation Business Number Paid-up capital of shares transferred Description of shares received Number of shares transferor received Class of shares Class A Shares of S Split Corp. Redemption value per share see attached Note Paid-up capital t yet determined Voting or n-voting Are shares retractable?* n-voting *Retractable means redeemable at the option of the holder. Informative tes The rules for section 85 elections are complex. Essential information is contained in Information Circular 76-19 and Interpretation Bulletins IT- 169, IT-291, and IT-378. Complete all the information areas and answer all questions. If this form is incomplete, the Canada Revenue Agency may consider theelection invalid, and subsequent submissions may be subject to a late-filing penalty. If the agreed amount exceeds the adjusted cost base of the in the election, you must report the difference as a capital gain, as income or a combination of both, whichever applies. Source: Canada Customs and Revenue Agency. Reproduced by SignForm.

Particulars of disposed of and consideration received Date of sale or transfer of all properties listed below: Year Month Day Note: For properties sold or transferred on different dates, use 2007 05 separate Form T2058. Property disposed of Consideration received Elected amount limits* Agreed Amount to be Non-share Share Capital excluding depreciable Description Fair market value (Brief legal) (see te 1) common shares of The Bank of Nova Scotia A amount B reported B-A (if greater than 0 see te 4) Description Number and class Class A Shares Fair market value Depreciable (Description and prescribed class) (see te 2) Eligible capital (Kind) (see te 3) Inventory excluding real Resource Security or debt obligation (Kind) (Brief legal) (Description) (cost amount) nil nil nil (cost amount) 1. Adjusted cost base (subject to adjustment per section 53.) 2. The lesser of undepreciated capital cost of all of the class and the cost of the. 3. The lesser of 4/3 x cumulative eligible capital and the cost of the. (New rules will apply on subsequent dispositions of eligible capital occurring after December 20, 2002). 4. Report this amount either as a capital gain or as income, whichever applies. Also, in the case of depreciable and eligible capital, you may have to report a portion of the amount as a capital gain and ather portion of as income. * See Interpretation Bulletin IT-291 for an explanation of the limits. Election and certification The corporation and all members of the partnership hereby jointly elect under subsection 85(2) in respect of the specified, and certify that the information given in this election, and in any documents attached, is true, correct and complete to the best of their kwledge. Date Signature of authorized officer of corporation Position or office 1 2 Social insurance number or Business Number Name of partner, authorized person or authorized officer Partner s tax services office Signature of partner, authorized person or authorized Position of office of authorized person or authorized officer Date officer Social insurance number or Business Number Name of partner (print) Partner s tax services office Signature of partner or authorized officer Date 3 Social insurance number or Business Number Name of partner (print) Partner s tax services office Signature of partner or authorized officer Date The election form must be signed by all partners, or by a person authorized in writing by all partners to sign for them, and by an authorized officer of the transferee. A person who is authorized to sign for all the partners should complete area 1 above, and attach a copy of the authorizing agreement. If space is insufficient, attach "Election and Certification" giving similar details. Attach a list containing the name, Social insurance number, or Business Number of each partner. If a member of the partnership is in itself a partnership, attach a list showing the name, Social insurance number, or Business Number of each member of that partnership. Also, indicate the fiscal period of the partnership. Source: Canada Customs and Revenue Agency. Reproduced by SignForm.

NOTE The redemption value per Class A Share of S Split Corp. (referred to in this te as the Company ) is as follows, as excerpted from the preliminary prospectus of the Company dated March 30, 2007: Redemptions All Class A Shares outstanding on the Termination Date will be redeemed by the Company on that date. The redemption price payable by the Company for each Class A Share outstanding on that date will be equal to the greater of (i) the NAV per Unit on that date minus the sum of $10.00 plus any accrued and unpaid dividends on a Preferred Share and (ii) nil. NAV per Unit for this purpose means the NAV of the Company divided by one half of the aggregate number of Class A Shares and Preferred Shares then outstanding. See Risk Factors. Notice of redemption will be given to CDS Participants holding Class A Shares on behalf of the beneficial owners thereof at least 30 days prior to the Termination Date. Retraction Privileges Class A Shares may be surrendered at any time for retraction to Computershare Investor Services Inc. ( Computershare ), the Company s registrar and transfer agent, but will be retracted only on a monthly Valuation Date (as defined below). Class A Shares surrendered for retraction by a holder of Class A Shares at least 10 business days prior to the last day of a month (a Valuation Date ) will be retracted on such Valuation Date and the shareholder will be paid on or before the fifteenth business day of the following month (the Retraction Payment Date ). Such retractions are subject to a Retraction Fee as described under Retraction Fee below. Except as ted below, holders of Class A Shares whose shares are surrendered for retraction will be entitled to receive a retraction price per Class A Share (the Class A Share Retraction Price ) equal to 95% of the difference between (i) the NAV per Unit determined as of the relevant Valuation Date, and (ii) the cost to the Company of the purchase of a Preferred Share in the market for cancellation. The cost of the purchase of a Preferred Share will include the purchase price of the Preferred Share, commission and such other costs, if any, related to the liquidation of any portion of the Company s portfolio required to fund such purchase. If the NAV per Unit is less than $10.00, the Class A Share Retraction Price will be nil. Any declared and unpaid distributions payable on or before a Valuation Date in respect of the Class A Shares tendered for retraction on such Valuation Date will also be paid on the Retraction Payment Date. Holders of Class A Shares also have an annual retraction right under which they may concurrently retract an equal number of Class A Shares and Preferred Shares on the June Valuation Date of each year (the Annual Valuation Date ). The price paid by the Company for such a concurrent retraction will be equal to the NAV per Unit on that date, less any costs associated with the retraction, including commissions and other such costs, if any, related to the liquidation of any portion of the Company s portfolio required to fund such retraction. Such retractions are subject to a Retraction Fee as described under Retraction Fee below. As disclosed below under Resale of Class A Shares Tendered for Retraction, where the holder of Class A Shares tendered for retraction has t withheld the holder s consent thereto in

the manner provided in the retraction tice delivered to CDS through a participant in the CDS book-based system (a CDS Participant ), the Company may but is t obligated to require the Recirculation Agent (as defined below) to use commercially reasonable efforts to find purchasers for any Class A Shares tendered for retraction prior to the relevant Retraction Payment Date pursuant to the Recirculation Agreement (as defined below). In such event, the amount to be paid to the holder of Class A Shares on the Retraction Payment Date will be an amount equal to the proceeds of the sale of the Class A Shares less any applicable commission. Such amount will t be less than the Class A Share Retraction Price described above. Holders of Class A Shares are free to withhold their consent to such treatment and to require the Company to retract their Class A Shares in accordance with their terms. The retraction right must be exercised by causing written tice to be given within the tice periods prescribed herein and in the manner described under Book-Entry Only System below. Such surrender will be irrevocable upon the delivery of tice to CDS through a CDS Participant, except with respect to those Class A Shares that are t paid for by the Company on the relevant Retraction Payment Date. If any Class A Shares are tendered for retraction and are t resold in the manner described below under Resale of Class A Shares Tendered for Retraction, the Company has directed the Recirculation Agent to purchase for cancellation on behalf of the Company that number of Preferred Shares that equals the number of Class A Shares so retracted. Any Preferred Shares so purchased for cancellation will be purchased in the market. Resale of Class A Shares Tendered for Retraction The Company will enter into an agreement (the Recirculation Agreement ) with RBC Dominion Securities Inc. (the Recirculation Agent ) to be dated as of the Closing Date whereby the Recirculation Agent will use commercially reasonable efforts to find purchasers for any Class A Shares tendered for retraction prior to the relevant Valuation Date, provided that the holder of Class A Shares so tendered has t withheld consent thereto. The Company may, but is t obligated to, require the Recirculation Agent to seek such purchasers and, in such event, the amount to be paid to the holder of Class A Shares on the applicable Retraction Payment Date will be an amount equal to the proceeds of the sale of the Class A Shares less any applicable commission, provided that such amount will t be less than the retraction price that would otherwise be payable to a holder. Subject to the Company s right to require the Recirculation Agent to use commercially reasonable efforts to find purchasers for any Class A Shares tendered for retraction prior to the relevant Valuation Date, any and all Class A Shares that have been surrendered to the Company for retraction are deemed to be outstanding until (but t after) the close of business on the relevant Valuation Date, unless t retracted thereon, in which event such Class A Shares will remain outstanding.