Business
2009 Tax Information for Advantage Energy Income Fund
2009 Tax Information for Advantage Energy Income Fund
About this update from Advantage Energy Ltd
[{"type":"text","content":"\n\n\n\nFeb. 3, 2010 (Canada NewsWire Group) -- CALGARY, Feb. 3 /CNW/ -- On July 9, 2009, Advantage Energy Income Fund (the \"Fund\") converted from a trust to a corporation. Unitholders of the Fund received, for each trust unit held, one common share of Advantage Oil & Gas Ltd. (\"Advantage\"). The Fund discontinued cash distributions with the final cash distribution paid to Unitholders on March 16, 2009. The following information is being provided to assist former individual Unitholders of the Fund in the preparation of their 2009 Income Tax Returns.The information contained in this news release is of a general nature only and is based on Advantage's understanding of the Income Tax Act (Canada) and the United States Internal Revenue Code. It is not intended to be, nor should it be construed to be, legal or tax advice to any particular former Unitholder. Former Unitholders should consult their own tax advisors with respect to their particular circumstances.2009 Canadian Tax InformationThe following information is intended to assist former individual Canadian Unitholders of the Fund in the preparation of their 2009 T1 Income Tax Return.Cash distributions in 2009 are 100% taxable to former Unitholders.Trust Units held within an RRSP, RRIF, or DPSPNo distribution amounts are required to be reported on the 2009 T1 Income Tax Return where Trust Units were held within an RRSP, RRIF or DPSP.Trust Units held outside of an RRSP, RRIF or DPSPUnitholders who held their Trust Units outside of an RRSP, RRIF or DPSP through a broker or other intermediary and who received cash distributions for the 2009 calendar year, will receive a \"T3 Supplementary\" slip directly from their broker or intermediary, not from the transfer agent Computershare Investor Services (the \"Transfer Agent\"), the Fund, or Advantage.Registered Unitholders of Trust Units who received cash distributions for the 2009 calendar year from the Transfer Agent (and not from a broker or intermediary), will receive a \"T3 Supplementary\" slip directly from the Transfer Agent.Under Paragraph 12(1)(m) of the Income Tax Act, taxable amounts allocated to the former Unitholders must be reported by the Unitholders in their 2009 Income Tax Return. Accordingly, the taxable amount of cash distributions received and receivable for the period from January 1, 2009 up to and including July ...