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North American Financial 15 Split Corp T.FFN

Alternate Symbol(s):  FNCSF

North American Financial 15 Split Corp. is a mutual fund corporation, which invests in a portfolio of over 15 financial services companies. It offers two types of shares, such as Preferred Shares and Class A Shares. Its investment objectives with respect to preferred shares are to provide holders of preferred shares with cumulative preferential monthly cash dividends, the amount of which is fixed on an annual basis and to pay the holders of the preferred shares a certain price per preferred share on or about the termination date. Its investment objectives with respect to class A shares are to provide holders of class A shares with regular monthly cash distributions and to permit holders to participate in all growth in the net asset value of the Company for a specific price per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying a specific price per preferred share. Its investment manager is Quadravest Capital Management Inc.


TSX:FFN - Post by User

Comment by navgodon Dec 11, 2024 4:14pm
61 Views
Post# 36357505

RE:Tax Implications - Sell or Retract

RE:Tax Implications - Sell or Retract
maxjac wrote: For income tax (capital gain specifically), is there a difference when we sell FFN shares on the open market versus if we retract those shares through the special retraction right program?

For example, if one makes a capital gain (profit) of $10,000 by selling on the stock exchange, would the income tax due on this profit be more, less, or equal to having made the exact same $10,000 profit by retracting said shares?

Hope my question is clear enough... I'm really trying to see if there is a difference in taxation.

My tax accountant over the years has treated it the same as an open market sale.
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