Bullboard - Stock Discussion Forum Artis Real Estate Investment Pref Shs Series E T.AX.PR.E

Alternate Symbol(s): ARESF | T.AX.UN | T.AX.PR.I

Artis Real Estate Investment Trust is an unincorporated closed-end REIT based in Canada. Artis REIT's portfolio comprises properties located in Central and Western Canada and select markets throughout the United States, including regions such as Alberta, British Columbia, Manitoba, Ontario, Saskatchewan, Arizona, Minnesota, Colorado, New York, and Wisconsin. The properties are divided into... see more

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Artis Real Estate Investment Pref Shs Series E > Box 34 (Foreign non-business income tax paid) of CRA T3

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Post by state08 on Apr 30, 2023 5:10pm

Box 34 (Foreign non-business income tax paid) of CRA T3

Anyone know why Artis paid about $0.30 CAD/unit in Foreign non-business income tax this year? I not seen that on previous years T3 statements.

I got a note from my tax guy that said:

"Not sure if you saw it or not, but on your T3 there was foreign tax paid on the Artis REIT of $9,319.91. The maximum you are allowed to claim is 15% (as per Canada US tax treaty) of the income which is $3,890.44. This means that you gave the US government $5,429.47 too much. You should follow-up and ask why? Unless there’s something we’re missing."

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Comment by SNAKEYBOY on Apr 30, 2023 5:44pm

You are right that number was 7.5k for me. I dont have insights into it. Doesnt that mean artis paid that and whatever you enter does not effect you're actual taxes

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Comment by state08 on Apr 30, 2023 5:51pm

Yes, I don't quite understand it either. I seems to me that was a tax Artis (as opposed to the individual stock holder) paid the US government for some reason and it showed up on the T3...

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Comment by SNAKEYBOY on Apr 30, 2023 6:02pm

It seems like box 25 is foreign income and 36 is income tax paid. For me box 36 is about 33% of box 25. Actually the larger box 36 is the better it is for us becauase it means we pay less tax, since artis paid it already

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Comment by state08 on Apr 30, 2023 6:33pm

Did you mean box 34 instead of 36? For me, the non-zero values on my Artis T3 are: FOREIGN INCOME (box 25): 25,936.25 ACTUAL ELIG. DIV (box 49): 31.19 FOREIGN TAX PAID (box 34): 9,319.91 (which as you say is about 1/3 of box 25) OTHER INCOME (box 26): 5,302.99

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Comment by SNAKEYBOY on Apr 30, 2023 6:38pm

yeah box 34 I meant. Your numbers and ratios seem similar to mine. You must own a ton of AX.UN shares, and I thought I had a lot. The capital losses cant be feeling too good

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Comment by state08 on May 01, 2023 11:55am

Yes, I have 30,433 as of the last DRIP. I started out in 2021 with 15,500 of them. Been DRIPing ever since. Seen lots of ups and downs, so I don't get to worked up about them. Alll I really care about is the distrabution is stable. If that goes down, then I started to get a bit concerned... Right now it seems like it is a tough time for almost all the ...more

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Comment by state08 on May 01, 2023 2:12pm

Oops. I meant to say: "I started out in 2011"...

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Comment by SNAKEYBOY on May 01, 2023 2:14pm

Great. Artis has been in a $5 trading range past decade. Hopefully manji makes us all rich one day

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Comment by SNAKEYBOY on Apr 30, 2023 5:50pm

sometimes brokers make a mistake- who's is yours?

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Comment by state08 on Apr 30, 2023 6:02pm

Scotia iTrade (used to be E-Trade, but then got bought out by Scotia Bank). Yes, they do indeed make mistakes. This tax season they incorrectly identified $4,090.35 in Distribution Income (from Primaris Real Estate) as Divided Income on the T5 statement they sent me. Then they canceled it a month later and reissued another one for me...

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