Canoe EIT Income 4.80 Cumulative Redeemable Pref shs Series 1 ENDTF

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

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 div

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Comment by Larrymartin77on Feb 01, 2022 2:18pm

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Post# 34386223

RE:RE:RE:RE:RE:Special div

Jtpatrol1 wrote:
bcsc wrote: Maybe it is time to stop your whining and take corrective action.

As has been explained to you, unless you are a high income Canadian, you are penalized for all distributions other than interest income in a registered account, since you cannot claim the dividend tax credit nor capital gains reduction.

Because you haven't bothered to find out all the rules of the game are you going to call out the management of the thousands of corporations that pay elligible dividends because you don't get to claim the dividend tax credit in a registered account (essentially being taxed twice). Or have to pay twice the amount of tax for the capital gains portion of the distributions because you hold it in a registered account. These decisions are on you not them.

If this special distribution was made in cash, the share price would have dropped by that amount on the ex-div date as the NAV of the shares have decreased by that amount. This type of transaction is neither unique or new as some on this board have opined

Please tell me that you have used all available TFSA contribution room and if you are unwilling to take responsibility for your own actions/decisions may I suggest a good investment advisor.

Man this "Super-dud" is dumb... you really should let the pros handle your $50.00 portfolio, you are obviously are not qualified