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.

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Big Banc Split Corp > profit tax

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Comment by braincloudon Jan 20, 2016 9:26pm

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Post# 24479194

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

The royalty tax varies depending on viscosity, depth and the age of the well and royalty tax can be anywhere from 0-40% for wells that produce more than 118 bbls/day. The second difference is in the eligible deductions. CDE ( Development expense) is deductible at 30% per year, CEE Exploration expence is 100% ( discretionarily ) and COGPE O&G property expence is 10% per year
In Albania, they have a running cost recovery from what I understand as opposed to the Canadian Tax regime as above. Moreover BNK did a great deal of remeediation to the oil field and spent millions doing so. I'm not clear how those expenses were treated. I will do a bit more digging.

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Cross border trading in Canada and Australia