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Big Banc Split Corp T.BNK

Alternate Symbol(s):  T.BNK.PR.A

The investment objectives for the Preferred Shares are to provide their holders with fixed cumulative preferential monthly cash distributions in the amount of $0.05 per Preferred Share ($0.60 per annum or 6.0% per annum on the issue price of $10.00 per Preferred Share) until November 30, 2023 (the Maturity Date) and to return the original issue price of $10.00 to holders on the Maturity Date. The Company will invest on an approximately equally-weighted basis in Portfolio Shares of the following publicly traded Canadian banks: Bank of Montreal; Canadian Imperial Bank of Commerce; National Bank of Canada; Royal Bank of Canada; The Bank of Nova Scotia; and The Toronto-Dominion Bank. The Portfolio will generally be rebalanced on a quarterly basis, starting on September 30, 2020, so that as soon as practicable after each calendar quarter the Portfolio Shares will be held on an approximately equal weight basis.


TSX:BNK - Post by User

Big Banc Split Corp > profit tax
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Comment by braincloudon Jan 21, 2016 10:27am
100 Views
Post# 24480289

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:profit tax

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:profit taxWallop, I don't think you understand what's what man. You have this fixation on some new tax rules that will impact immediate earnings. IMO it isn't. There have been discussions about the CAPEX and OPEX and what they paid, what it worth, is it too much, where did it get spent, is it allowed etc etc. How you arrive at the conclusion "this could be a substantial future tax increase " is beyond me. For the record The 2011 Cost Recovery Pool was $235 million, 2012 was $244 Mill, 2013 was $177 Mill and 2014 was $174 Mill. The ALBS have suggested that $303 million in CAPEX was improper and they are arguing about this right now. If you guys look back at the CAPEX and OPEX expenditures it seems completely impossible to disallow every item. So the only thing that will be resolved is a blueprint for expenses going forward. I do not anticipate any immediate impact to the tax regime that will impact BNK's profitability. It will likely impact the cost recovery pool, no doubt BUT NOT TO VALIDATE THE PROFIT TAX THE ALBANIANS ARE CLAIMING!!!
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