GREY:ACRVF - Post by User
Comment by
mjh9413on Jan 04, 2019 2:11pm
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Post# 29187508
RE:RE:RE:takeover & distribution
RE:RE:RE:takeover & distributionIt is worse than a sleight of hand as it presumably has tax consequences for those in a non-registered account. From their NR '.....Canadian resident Unitholders will generally be required to include their proportionate share of the REIT’s income and net taxable capital gain for the 2018 tax year as allocated and designated by the REIT in computing their respective income for the 2018 tax year."
The gainer is El-Ad as "...the Special Distribution is principally being made to distribute to holders of Units (“Unitholders”) the recapture of previously claimed capital cost allowance and the capital gain realized by the REIT upon the sale of its Parkway Place property on May 31, 2018." Since it was equivalent to $1.94 per unit they effectively get the company at $14.25 less their effective tax rate on the total distribution net of the distribution paid to El-Ad as a unit holder.
The NR is ony available on the Agellan site...and it also shows that despite earlier claims, it is to non-resident holders as well.