Taxation in Canada

Caldwell U.S. Dividend Advantage Fund Declares Distributions for Q2 2021

Retrieved on: 
Wednesday, April 7, 2021
Dividend, Shareholders, Taxation in Canada, Exchange-traded fund, Index fund

The ETF Series of Caldwell U.S. Dividend Advantage Fund trades on the TSX under the ticker symbol UDA.

Key Points: 
  • The ETF Series of Caldwell U.S. Dividend Advantage Fund trades on the TSX under the ticker symbol UDA.
  • Performance of the Fund prior to the conversion date would have differed had the Fund been subject to the same investment restrictions and practices of the current open-end mutual fund.
  • If distributions paid are greater than the performance of the fund, your original investment will shrink.
  • Distributions paid as a result of capital gains realized by a fund, and income and dividends earned by a fund, are taxable in your hands in the year they are paid.

Certain DWS Closed-End Funds Declare Monthly Distributions

Retrieved on: 
Tuesday, April 6, 2021
Banking, Professional services, Finance, Tax, Economy, Money, Income tax in the United States, Income tax, Alternative minimum tax, Taxation in Canada, Taxation in Australia, Legal entities, State taxation in the United States, International taxation, Taxation in the United States

Although the fund seeks income that is exempt from federal income taxes, a portion of the funds distributions may be subject to federal, state and local taxes, including the alternative minimum tax.

Key Points: 
  • Although the fund seeks income that is exempt from federal income taxes, a portion of the funds distributions may be subject to federal, state and local taxes, including the alternative minimum tax.
  • Although the fund seeks income that is exempt from federal income taxes, a portion of the funds distributions may be subject to federal, state and local taxes, including the alternative minimum tax.
  • Closed-end funds, unlike open-end funds, are not continuously offered.
  • The price of a funds shares is determined by a number of factors, several of which are beyond the control of the fund.

PIMCO Closed-End Funds Declare Monthly Common Share Distributions

Retrieved on: 
Thursday, April 1, 2021
Income tax in the United States, Income tax, Money, Finance, Taxation in Canada, Institutional investors, Investment management, Financial ratios, Economy, Capital gains tax

There can be no assurance that all distributions paid by these Funds will be exempt from federal income taxes or applicable state or local income taxes.

Key Points: 
  • There can be no assurance that all distributions paid by these Funds will be exempt from federal income taxes or applicable state or local income taxes.
  • The tax treatment and characterization of a Fund's distributions may vary significantly from time to time because of the varied nature of the Fund's investments.
  • As with any stock, the price of a Funds common shares will fluctuate with market conditions and other factors.
  • PIMCO is a trademark of Allianz Asset Management of America L.P. in the United States and throughout the world.

Angel Oak Financial Strategies Income Term Trust Declares April 2021 Distribution

Retrieved on: 
Thursday, April 1, 2021
Banking, Professional services, Finance, Finance, Money, Investment funds, Exchange-traded funds, Taxation in Canada, Investment, State Street Global Advisors

Angel Oak Financial Strategies Income Term Trust (the Fund), a closed-end fund traded on the New York Stock Exchange under the symbol FINS, today declared a distribution of $0.1085 per share for the month of April 2021.

Key Points: 
  • Angel Oak Financial Strategies Income Term Trust (the Fund), a closed-end fund traded on the New York Stock Exchange under the symbol FINS, today declared a distribution of $0.1085 per share for the month of April 2021.
  • The record date for the distribution is April 16, 2021, and the payable date is April 30, 2021.
  • The Fund seeks to pay a distribution at a rate that reflects net investment income actually earned.
  • 2021 Angel Oak Capital Advisors, which is the investment adviser to the Angel Oak Financial Strategies Income Term Trust.

XAI Octagon Floating Rate & Alternative Income Term Trust Declares Its Monthly Distribution of $0.073 Per Share

Retrieved on: 
Thursday, April 1, 2021
Consulting, Professional services, Finance, Economy, Money, Finance, Financial ratios, Taxation in Canada, Common law, Equity, Inheritance, Trust law, Rate of return, Income trust, Income tax in the United States, XA Investments, XMS Capital Partners, Octagon Credit Investors

Shareholders should not assume that the source of a distribution from the Trust is net income or profit.

Key Points: 
  • Shareholders should not assume that the source of a distribution from the Trust is net income or profit.
  • The Trusts net investment income and capital gain can vary significantly over time, however, the Trust seeks to maintain more stable monthly distributions over time.
  • The Trusts final taxable income for the current fiscal year will not be known until the Trusts tax returns are filed.
  • The distributions paid by the Trust for any particular period may be more than the amount of net investment income from that period.

Enforcement Notification - Charges laid - Surrey real estate developer charged with tax evasion

Retrieved on: 
Thursday, April 1, 2021
Taxation in Canada, Goods and Services Tax, In Canada, Dhillon, Government of Canada, CRA, Tax evasion, Government, Canada Revenue Agency

The criminal charges laid against Mr. Dhillon allege that he failed to report and remit $371,735.52 in GST/HST collected from the sale of eight residential properties in North Vancouver and Surrey.

Key Points: 
  • The criminal charges laid against Mr. Dhillon allege that he failed to report and remit $371,735.52 in GST/HST collected from the sale of eight residential properties in North Vancouver and Surrey.
  • As director of Oakwood Homes Inc. and Elgin Oaks Homes Ltd., Mr. Dhillon was actively involved in the companies' purchase and development of real estate, and maintained the companies' books and records.
  • The CRA continues to aggressively pursue tax evasion and false claims with all tools available to them.
  • The CRA has set up a free subscription service to help Canadians stay current on the CRA's enforcement efforts.

Templeton Global Income Fund (“GIM”) Announces Its First Monthly Distribution Pursuant to Previously Announced Managed Distribution Plan and Additional Investment Strategies

Retrieved on: 
Thursday, April 1, 2021
Professional services, Finance, Finance, Money, Economy, Investment funds, Taxation in Australia, Dividend, Shareholders, Return of capital, Income fund, Investment, Taxation in Canada, Capital gains tax

Templeton Global Income Fund [NYSE: GIM] today announced a monthly distribution from net investment income of $0.0377 per share, payable on April 30, 2021, to shareholders of record on April 15, 2021 (Ex-Dividend Date: April 14, 2021).

Key Points: 
  • Templeton Global Income Fund [NYSE: GIM] today announced a monthly distribution from net investment income of $0.0377 per share, payable on April 30, 2021, to shareholders of record on April 15, 2021 (Ex-Dividend Date: April 14, 2021).
  • The Fund is managed with a goal of generating as much of the distribution as possible from net ordinary income and short-term capital gains, that is consistent with the Funds investment strategy and risk profile.
  • To the extent that sufficient distributable income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate.
  • A return of capital distribution does not necessarily reflect the Funds investment performance and should not be confused with yield or income.

Confusion, dread, and fear of owing money fuel tax filing procrastination in Canada

Retrieved on: 
Tuesday, March 30, 2021
Tax, Taxation in Canada, Tax accounting, Tax refund, Tax return

"There's no doubt that this tax season is a bit of an enigma.

Key Points: 
  • "There's no doubt that this tax season is a bit of an enigma.
  • What's important is resisting the temptation to procrastinate, and to seek expert help if you are not sure how to maximise your tax return."
  • For those who expect or are hoping for a tax refund, Canadians are taking a conservative approach in how they plan to use the money.
  • For over 50 years, H&R Block Canada is Canada's tax leader, with over 1,100 locations across Canada, and do-it-yourself Tax Software.

Putnam Investments Announces Distribution Rates for Closed-End Funds

Retrieved on: 
Friday, March 26, 2021
Banking, Professional services, Finance, Finance, Money, Economy, Financial markets, Investment, Mathematical finance, Rate of return, Taxation in Canada

* Distributions may be comprised of ordinary and/or tax-exempt income, net capital gains and/or a return of capital of your investment in the Fund.

Key Points: 
  • * Distributions may be comprised of ordinary and/or tax-exempt income, net capital gains and/or a return of capital of your investment in the Fund.
  • The funds periodically provide fund-related information on their websites.
  • The following information will be available for each fund at putnam.com at the frequencies indicated: (1) Full holdings will be available monthly beginning on the 8th business day after the end of each month; (2) Top 10 holdings and additional portfolio statistics will be available monthly, approximately 15 days after month-end.
  • View source version on businesswire.com: https://www.businesswire.com/news/home/20210326005339/en/

Taxation: Council adopts new rules to strengthen administrative cooperation and include sales through digital platforms

Retrieved on: 
Tuesday, March 23, 2021
Tax, Economy, Articles, Economic systems, Information economy, Taxation in the United States, Taxation in Canada, Taxation in the United Kingdom

A large and growing number of individuals and businesses use digital platforms to sell goods or provide services.

Key Points: 
  • A large and growing number of individuals and businesses use digital platforms to sell goods or provide services.
  • However, income earned through digital platforms is often unreported and tax is not paid, in particular when digital platforms operate across several countries.
  • This causes member states to lose tax revenue and gives an unfair advantage to traders on digital platforms over traditional businesses.
  • The new rules cover digital platforms located both inside and outside the EU and will apply from 1 January 2023 onwards.