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Tax Information

Tax Information

Tax Slips

Please note that only the NCM and Kipling products listed below will be distributing tax slips for each taxation year.

Fund Name	Tax Slip	Mailing Deadline
NCM Opportunities Corp.
NCM Income Growth Class	T5	February 28
NCM Global Income Growth Class	T5	February 28
NCM Core International*	T5	February 28
NCM Small Companies Class*	T5	February 28
NCM Core Portfolios Ltd
NCM Core Global	T5	February 28
NCM Core Canadian	T5	February 28
NCM Trust Funds
NCM Global Income Balanced Portfolio	T3	March 15
NCM Global Equity Balanced Portfolio	T3	March 15
NCM Dividend Champions	T3	March 15
Kipling Trust Funds
Kipling Strategic Income Fund	T3	March 15
Kipling Global Enhanced Dividend Fund	T3	March 15
Kipling Global Enhanced Growth Fund	T3	March 15

*If applicable

Flow-Through Specific Tax Information

Frequently Asked Questions on the Flow-Through Limited Partnerships (FTLP)

If you are looking for a certain year’s final tax package, they are available here for download.

Norrep Short Duration 2017 Flow-Through Limited Partnership Final Tax Reporting Package

Norrep Short Duration 2016 Flow-Through Limited Partnership Final Tax Reporting Package

Norrep Short Duration 2015 Flow-Through Limited Partnership Final Tax Reporting Package

Norrep Short Duration 2014 Flow-Through Limited Partnership Final Tax Reporting Package

Norrep Short Duration 2013 Flow-Through Limited Partnership Final Tax Reporting Package

Norrep Short Duration 2012 Flow-Through Limited Partnership Final Tax Reporting Package

Norrep Short Duration 2011 Flow-Through Limited Partnership Final Tax Reporting Package

Norrep Short Duration 2010 Flow-Through Limited Partnership Final Tax Reporting Package

Norrep Short Duration 2009 Flow-Through Limited Partnership Final Tax Reporting Package
Many investors’ accountants track the ACBs on behalf of their clients using each year’s T5013 slip. Alternatively, you may refer to the ACB calculations provided for recent FTLPs.

Norrep Short Duration 2017 FTLP

Norrep Short Duration 2016 FTLP

Norrep Short Duration 2015 FTLP

Norrep Short Duration 2014 FTLP

Norrep Short Duration 2013 FTLP

Norrep Short Duration 2012 FTLP

Norrep Short Duration 2011 FTLP

Norrep Short Duration 2010 FTLP

Norrep Short Duration 2009 FTLP

Norrep Short Duration 2008 FTLP

Norrep Short Duration 2007 FTLP
The T5013 mailing deadline is March 31. The slips will be mailed from each broker’s back office. In a rollover year, the tax slips will be mailed from Norrep no later than 90 days after the rollover.
Tax benefits may be deductible over more than one tax year. Investors can often claim a high percentage of the total tax benefit after the first year of the FTLP’s operation when it has invested in flow-through shares of natural resource companies. In turn, the companies use the funds from issuing shares to invest in resource exploration and development.

The resource companies renounce or “flow-through” the costs associated with this exploration and development to the FTLP, which in turn passes them on to investors with the T5013 slip. Investors utilize the deduction on their income tax return to reduce income tax payable.
Investors report capital gains when the FTLP sells some of the flow-through shares in the Partnership to prepare for a tax-deferred rollover to a public mutual fund. The Income Tax Act says that the shares held in the FTLP are deemed to have a cost of zero for income tax purposes.

Therefore, when the FTLP sells an investment, the entire proceeds are considered to be capital gains, of which 50% are taxable. The FTLP allocates the capital gains proportionately to the limited partners on T5013 slips.
If you are preparing your income tax return manually, use Canada Revenue Agency form T1229 and the information from the T5013 slip. The amounts from this form are brought forward to Line 224 on your personal income tax return. Form T1229 is available on the CRA website.

If you are using income tax preparation software on your computer, the software will often add the credit automatically on Line 224 of Form T1229 once you have entered the data from T5013 slip. As the use of the deduction is optional, investors’ software may require them to add the credit manually on the T1229 form in the software.
Initial offering expenses such as selling commission, legal, and audit are deductible over a five-year period. The life of a FTLP is often less than five years. Therefore, investors will often receive a letter at the time of rollover notifying them of deductions that can be taken in future years after the FTLP has ceased to legally exist due to the rollover to a public mutual fund.

General Inquires

Got Tax Questions?

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Contact

Who do I contact for more information?

For tax questions, please contact NCM Client Services at 1.877.531.9355 or email info@ncminvestments.com

Disclaimer

This information is provided for general information purposes only. This information should not be relied on without the advice and guidance of a professional tax advisor who is familiar with all relevant facts applicable to your situation. Although the information contained above is presented in good faith and believed to be correct, it is general in nature and is not intended as tax advice. Furthermore, the information contained herein may not be applicable to or suitable for your specific circumstances or needs and may require consideration of other matters.