Gamehost Income Fund (TSX: GH.UN)
RED DEER, AB, Feb. 19 /CNW/ - The following information is intended to assist individual Canadian unit holders of Gamehost Income Fund (the "Fund", or the "Trust") in the preparation of their 2008 T1 Income Tax Return.
Cash distributions in 2008 are 6.82 percent non-taxable as a Return of Capital ("ROC") with the remaining 93.18 percent being taxable.
Trust units held inside of an RRSP, RRIF or DPSP
No amounts are required to be reported on the 2008 T1 Income Tax Return where Gamehost Income Fund trust units are held within an RRSP, RRIF or DPSP.
Trust units held outside of an RRSP, RRIF or DPSP
Unit holders who hold their trust units outside of an RRSP, RRIF or DPSP through a broker or other intermediary and who have received cash distributions during the calendar year 2008, will receive a "T3 Supplementary" slip directly from their broker or intermediary, not from the transfer agent of the Fund, Computershare Investor Services (the "Transfer Agent") or the Company.
Registered unit holders of Trust units who have received cash distributions during the calendar year 2008 from the Transfer Agent (and not from a broker or intermediary) will receive a "T3 Supplementary" slip directly from the Transfer Agent.
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IF Then
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You hold trust units through a You will receive a T3 Supplementary slip
broker or other intermediary... directly from your broker or
intermediary, not from the transfer
agent or Gamehost Income Fund.
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You are a registered unit You will receive T3 Supplementary slips
holder... directly from the transfer agent
(Computershare Trust Company of Canada).
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The amount reported in Box (26) on the T3 slip should be reported on your T1 Income Tax Return as "Other Income".
The table below includes supplementary information on the taxable portion of the 2008 cash distributions shown on a per unit basis. Under Paragraph 12 (1) (m) of the Income Tax Act, taxable amounts allocated to the unit holders must be reported by the unit holders in their 2008 Income Tax Return.
Accordingly, the taxable amount of cash distributions received from January 1, 2008 up to and including December 31, 2008 is included in your "T3 Supplementary". The deadline for mailing all T3 Supplementary Information slips as required by Revenue Canada is March 31, 2009.
Adjusted Cost Base for Capital Gains
Holders of trust units are required to reduce the Adjusted Cost Base ("ACB") of their units by an amount equal to the cumulative cash received from cash distributions minus cumulative taxable amounts reported as "Other Income" on their slips (if any).
The Adjusted Cost Base is used in calculating capital gains or losses on the disposition of the trust units if the trust units are held as a capital property by the owner.
GAMEHOST INCOME FUND
2008 - T3 Information
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Total Taxable Return of
Month Record date Payment date distribution income capital
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Jan-08 31-Jan-08 15-Feb-08 $ 0.06667 $ 0.06212 $ 0.00455
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Feb-08 29-Feb-08 14-Mar-08 $ 0.06667 $ 0.06212 $ 0.00455
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Mar-08 31-Mar-08 15-Apr-08 $ 0.06667 $ 0.06212 $ 0.00455
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Apr-08 30-Apr-08 15-May-08 $ 0.07330 $ 0.06830 $ 0.00500
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May-08 31-May-08 13-Jun-08 $ 0.07330 $ 0.06830 $ 0.00500
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Jun-08 30-Jun-08 15-Jul-08 $ 0.07330 $ 0.06830 $ 0.00500
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Jul-08 31-Jul-08 15-Aug-08 $ 0.07330 $ 0.06830 $ 0.00500
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Aug-08 31-Aug-08 15-Sep-08 $ 0.07330 $ 0.06830 $ 0.00500
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Sep-08 30-Sep-08 15-Oct-08 $ 0.07330 $ 0.06830 $ 0.00500
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Oct-08 31-Oct-08 14-Nov-08 $ 0.07330 $ 0.06830 $ 0.00500
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Nov-08 30-Nov-08 15-Dec-08 $ 0.07330 $ 0.06830 $ 0.00500
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Dec-08 31-Dec-08 15-Jan-09 $ 0.24070 $ 0.22427 $ 0.01643
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$ 1.02711 $ 0.95703 $ 0.07008
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Gamehost Income Fund is an unincorporated open-ended limited purpose trust established under the laws of the Province of Alberta. The Fund's activities are currently confined to the Province of Alberta, Canada. Operations of the Fund include the Boomtown Casino in Ft. McMurray, the Great Northern Casino, Service Plus Inns & Suites and a strip mall all located in Grande Prairie. The Fund is also a 40% joint venture partner in Deerfoot Inn & Casino Inc. in Calgary and a 20% joint venture partner in the new Stampede Casino in Calgary.
The TSX does not accept responsibility for the adequacy or accuracy of this release.
Complete disclosure of the Fund can be found on SEDAR at www.sedar.com. Additional information on the Fund can be found on the Fund's website at www.gamehost.ca.
%SEDAR: 00019487E