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Badger Daylighting Ltd. Releases Canadian Tax Information for Badger Income Fund 2010 Distributions
Feb. 24, 2011 (Filing Services Canada) -- Badger Daylighting Ltd. (BAD - TSX), On December 31, ...
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[{"type":"text","content":"\nBadger Daylighting Ltd. Releases Canadian Tax Information for Badger Income Fund 2010 Distributions\n\n Feb. 24, 2011 (Filing Services Canada) -- Badger Daylighting Ltd. (BAD - TSX), On December 31, 2010 Badger Income Fund (the \"Fund\") was reorganized into a corporation called Badger Daylighting Ltd. (\"Badger\"). The following reporting is for the Fund. The information provided below is solely to assist Canadian individual unitholders with tax reporting information in respect of distributions paid and declared during the calendar year 2010.  The information contained herein is based on the Fund's understanding of the Canadian Income Tax Act and the regulations thereunder and is provided for general information only.  Canadian unitholders should consult with a taxation or investment professional for individual tax advice.Fund Units Held Within an RRSP, RRIF, RESP, DPSP or TFSANo amounts are to be reported on the unitholders' 2010 Income Tax Return where fund units are held within a Registered Retirement Savings Plan (RRSP), Registered Retirement Income Fund (RRIF), Registered Education Savings Plan (RESP), Deferred Profit Sharing Plan (DPSP) or Tax Free Savings Account (TFSA).Fund Units Held Outside an RRSP, RRIF, RESP, DPSP or TFSAUnitholders who hold their fund units outside of an RRSP, RRIF, RESP, DPSP or TFSA and were entitled to receive distributions on a distribution record date within the calendar year 2010 will receive a T3 Statement of Trust Income Allocations and Designations slip (\"T3\") directly from Computershare Investor Services or from the broker/intermediary who the unitholder holds their fund units through.  The amount reported in Box 26 \"Other Income\" on the T3 should be reported on the Unitholders' 2010 Income Tax Return.  The deadline for mailing the 2010 T3's to unitholders, as required by the Canada Revenue Agency, is March 31, 2011.Adjusted Cost Base of Fund Units for Capital Gain PurposesUnitholders are required to reduce the adjusted cost base (\"ACB\") of their fund units by the amount reported in Box 42 \"Amount Resulting in Cost Base Adjustment\" of the T3, which is equal to the cumulative distribution declared during calendar 2010 less the amount reported as \"Other Income\" in Box 26 of the T3.  The ACB is used in determining the capital gain...