Tax complexity, September 4 2024 SIBWhen the offer was made the company stated the following:
"Assuming full and pro-rata shareholder participation, the Offer represents a CAD$0.48 per Share distribution equivalent to a 6.6% yield on the Company's stock price prior to the announcement of the Offer during the Company's second quarter 2024 results."
"The Company also announces that it has re-determined the estimated "paid-up capital" for purposes of the Income Tax Act (Canada) of its Shares to be CAD$14.98 per Share as of the date hereof."
I'm hoping my broker does everything for me and sends proper tax slips and all I have to do is file them with no "figuring out" on my part.
Thanks Kcac1 for the link but it was like you said "LONG" and I found it unhelpful for our situation. I don't think it gave an example of an SIB.
Another SIB !!!!!! Now I know the process is simple, just call my broker and tell them to tender, I guess I'll tender AGAIN but this time ALL my shares, it's for $12 again, correct? I haven't recieved anything in the mail about this new SIB. Lucky I decided to check in on FEC to see what's happening. I never did get anything in the mail the last SIB, but I called in and tendered and it was done.
Will wait and see what tax slips I get.