Information to Unit Holders of The Brick Group Income Fund
During 2008, the monthly distribution to Brick unit holders (Class A) was $.10 per month per unit for January through October and $.05 per unit for November and December, which is equal to the Brick’s taxable income for the 2008 taxation year.
The information provided above should not be construed as legal or tax advice and unit holders of The Brick Group Income Fund are advised to consult their own tax or legal advisors to obtain advice with respect to any tax or legal consequences to them, having regard to their own particular circumstances.
NOTICE TO UNITHOLDERS: T3 AMENDMENT or T3 AMENDED SLIPS
Important Information to Unitholders of The Brick Group Income Fund - Form T3
During 2007, the monthly distribution to Brick unit holders (Class A) was $.10 per month per unit, which is equal to the Brick’s taxable income for the 2007 taxation year.
The allocation of this income was previously reported as $.00253/unit for taxable capital gains and $.09747/unit for other taxable income for a total of $.10/unit.
This allocation has been amended to $.00161/unit for taxable capital gains and $.09839/unit for other taxable income, for a total of $.10/unit.
As described below, Form T3 requires a summary of the amount of capital gains (rather than taxable capital gains) and other income taxable income allocated by the Brick. Since a taxable capital gain is equal to 50% of a capital gain, the amount reported on Form T3 for allocation of capital gains is $.00322/unit.
However, when a Canadian resident unit holder uses this information, the amount of taxable income reported by that unit holder will be equal to the $.10/unit distribution from the Brick, since only 50% of the $.00322 capital gain will be included in the taxable income of the unit holder.
Example for Canadian Resident Unit Holder: Unit holder owns one unit for the full year 2007.
Distributions received: $1.20
Taxable income:
Other taxable income $1.18
Taxable Capital Gains $0.02
As reported on the T3: $1.22
Taxable income:
Other taxable income $1.18
Capital Gains $0.04
The information provided above should not be construed as tax or legal advice and unit holders of The Brick Group Income Fund are advised to consult their own tax or legal advisors for tax or legal advice with respect to any tax or legal consequences to them, having regard to their particular circumstances.
Distributions and Tax Information**
General Tax Information:
Cash distributions received from a unit trust (“Units”) of The Brick Group Income Fund (“Fund”) include a component that is taxable in the hands of the unitholders and may include a portion that is tax deferred. The taxable component of the cash distribution may vary, depending on the Fund’s actual financial performance, cash distributions and taxable income.
If you hold your units in a qualifying registered plan such as a Registered Retirement Savings Plan, Registered Retirement Income Fund or Registered Education Savings Plan, the cash distributions from Fund Units are completely tax sheltered until the plan is de-registered.
Canadian resident unitholders who Fund Units as capital property outside of a qualifying registered plan and who sell their units during the year, must determine their Adjusted Cost Base in calculating a capital gain or loss on disposition of the units.
** This Distributions and Tax Information should not be construed as tax or legal advice and prospective purchases of Units are advised to consult their own tax or legal advisors for tax or legal advice with respect to any tax or legal consequences to them, having regard to their particular circumstances.
Distribution History
2008 Distributions (See Table 1 for information)
2007 Distributions (See Table 2 for information)
2006 Distributions (See Table 3 for information)
2005 Distributions (See Table 4 for information)
2004 Distributions (See Table 5 for information)
Table 1: 2008 Distributions
Table 2: 2007 Distributions
Table 3: 2006 Distributions
Table 4: 2005 Distributions
Table 5 – 2004 Distributions
|
