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2012 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
2012. 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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