Incitec Pivot Ltd T.IPL

Joint Tax Election

[lundu]

My shares of IPL are held with TD Waterhouse and I was directed by letter to phone them with my instructions.  The joint tax election, as it was explained to me, is essentially a way of going from a trust to a regular corporation without actually selling IPL.un to transform it to IPL.  By going the joint Tax election route you are deferring taxes until such time as you actually do sell IPL.  At that point you will most probably have to account for capital gains.  If your present shares are held in an RRSP or TFSA you won't have to worry about the joint tax election because there is no capital gains issue.  When I phoned TD Waterhouse and said I would go with the joint tax election they said they would take it from there and I didn't have to do anything else.  I hope this will be of help to you.

Lundu