Symbol: PEY.UN - TSX
CALGARY, Feb. 28 /CNW/ - Peyto Energy Trust ("Peyto") is pleased to
announce the 2005 tax information for unitholders in Canada.
For purposes of the Income Tax Act (Canada), Peyto Energy Trust is a
mutual fund trust. Each year, an income tax return is filed by Peyto with
taxable income allocated to and taxable in the hands of the unitholders. Cash
distributions paid by Peyto are comprised of a return on capital portion
(taxable income) and a return of capital (tax deferred) portion. The return on
capital (taxable) portion is calculated and reported on Peyto's T3 return and
allocated to each unitholder who received distributions in that taxation year
on T3 Supplementary forms, which are mailed to unitholders before March 31 of
each year. Registered unitholders will receive a T3 Supplementary form
directly from the transfer agent, Valiant Trust Company. Beneficial
unitholders will receive a T3 Supplementary form from their broker or other
intermediary. The T3 slip will report only the taxable income component. The
return of capital (tax deferred) portion reduces the unitholders' cost base of
the units. For cash distributions received or receivable by a Canadian
resident, outside of a registered pension or retirement plan in the 2005
taxation year, the split is 75.0 percent return on capital (taxable) and
25.0 percent return of capital (tax deferred). The following table sets out
the tax treatment of the Canadian monthly distributions paid and payable in
2005:
<<
Total
Tax Distribution
Deferred (Adjusted for
Taxable Amount 2-1 Split
Amount (Return of May 31,
Record Date Payment Date (Income) Capital) 2005)
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January 31, 2005 February 15, 2005 $0.0713 $0.0237 $0.0950
February 28, 2005 March 15, 2005 $0.0825 $0.0275 $0.1100
March 31, 2005 April 15, 2005 $0.0825 $0.0275 $0.1100
April 29, 2005 May 13, 2005 $0.0825 $0.0275 $0.1100
May 31, 2005 June 15, 2005 $0.0900 $0.0300 $0.1200
June 30, 2005 July 15, 2005 $0.0900 $0.0300 $0.1200
July 29, 2005 August 15, 2005 $0.0900 $0.0300 $0.1200
August 31, 2005 September 15, 2005 $0.0900 $0.0300 $0.1200
September 30, 2005 October 14, 2005 $0.0900 $0.0300 $0.1200
October 31, 2005 November 15, 2005 $0.0900 $0.0300 $0.1200
November 30, 2005 December 15, 2005 $0.0900 $0.0300 $0.1200
December 31, 2005 January 13, 2006 $0.0900 $0.0300 $0.1200
-------------------------------------------------------------------------
$1.0388 $0.3462 $1.3850
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75.0% 25.0% 100.0%
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Tax information for United States unitholders will be announced mid-
March, 2006.
We encourage you to actively visit Peyto's website located at
www.peyto.com.
Certain information set forth in this document, including management's
assessment of Peyto's and the Trust's future plans and operations, contains
forward-looking statements. By their nature, forward-looking statements are
subject to numerous risks and uncertainties, some of which are beyond these
parties' control, including the impact of general economic conditions,
industry conditions, volatility of commodity prices, currency fluctuations,
imprecision of reserve estimates, environmental risks, competition from other
industry participants, the lack of availability of qualified personnel or
management, stock market volatility and ability to access sufficient capital
from internal and external sources. Readers are cautioned that the assumptions
used in the preparation of such information, although considered reasonable at
the time of preparation, may prove to be imprecise and, as such, undue
reliance should not be placed on forward-looking statements. Peyto's and the
Trust's actual results, performance or achievement could differ materially
from those expressed in, or implied by, these forward-looking statements and,
accordingly, no assurance can be given that any of the events anticipated by
the forward-looking statements will transpire or occur, or if any of them do
so, what benefits that Peyto and the Trust will derive therefrom. Peyto
disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise. The Toronto Stock Exchange has neither approved nor disapproved the
information contained herein.
>>
%SEDAR: 00019597E
