Foremost Income Fund
Historic Summary of T3 Slips
The Foremost Industries Income Fund was reorganized on December 28, 2005 to create a new fund, Foremost Income Fund. The initial transfer price at which the old units of the Foremost Industries Income Fund were replaced by units of Foremost Income Fund, was $14.635 per unit which becomes the initial ACB for all unit holders as at that date.
The following information is a summary of distributions and income allocations made by the Foremost Income Fund from 2006 to 2017 on a per unit basis. This information can also be found on the T3 tax slips available at https://services.cds.ca/t3.
Note 1 – In 2011, in addition to the regular distribution, the Fund also proceeded with a Special Redemption whereby 1,844,075 units were redeemed. This amount was equal to 11% of the units held by each unitholder that participated. For each unit redeemed investors received a total cash payment of $11.00. This amount was made up of $10.99 of income and $0.01 of redemption proceeds. Unit holders that participated would have received a separate T3 for this transaction applicable only to those units redeemed.
The above table is intended for information purposes only. The income and other tax consequences of holding, redeeming or disposing of units will vary depending on the unitholder’s particular circumstances, including the jurisdiction(s) in which the unitholder resides or carries on business, and whether the unitholder is an RRSP, RESP, RRIF, DPSP or TFSA. Accordingly, this summary is of a general nature only and is not intended to be legal or tax advice to any unitholder. All unitholders should consult their own legal and tax advisors.