Canoe EIT Income 4.80 Cumulative Redeemable Pref shs Series 1 T.EIT.PR.A

Alternate Symbol(s): T.EIT.PR.B | ENDTF | T.EIT.UN

Financial Services Asset Management

Canoe EIT Income Fund (the Fund) is a Canada-based closed-end investment trust. The investment objectives of Fund are to maximize monthly distributions relative to risk and maximize net asset value, while maintaining and expanding a diversified investment portfolio, primarily through acquiring, investing, holding, transferring, disposing of or otherwise dealing with or in equity and debt securities of corporations, partnerships, or other issuers and such other investments as the manager may determine in its sole discretion from time to time. Canoe Financial LP is the manager and portfolio manager of the Fund.

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Canoe EIT Income 4.80 Cumulative Redeemable Pref shs Series 1 > Special distribution

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Comment by bcscon Dec 23, 2021 12:24pm

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Post# 34258302

RE:RE:RE:RE:Special distribution

Its unfortunate that you don't want the tax implications since they are to your benefit' that is it increases your adjusted cost base' hence reducing your capital gain.
Either you misunderstood or were misled by the individual you called. (Next time you might want to call IR not HR)
Think of it this way, they give you a distribution of 44 cents a share, you give it back to them but your number of shares does not change, so you have paid 44 cents more for the shares you own decreasing your eventual capital gain (or possibly increasing your capital loss)

Golferman wrote: Yes.... Very difficult to undersatnd

I called HR and what is going to happen is you will receive a T3 for the gains...... and your addjusted cost base for your units in your account will be reduced by the amount of distribution.... maybe .44

This distribution is of no advantage to a share holder just the company...... Sold my position I don't want the tax implications.