What is the tax implication?

  • The Class A Preferred Shares falls under Section 130.1 of the Canadian Income Tax Act. It is a flow through investment and as such, pays no taxes at the corporate level so long as it distributes 100% of its annual net income.
  • Atlantic Advantage MIC distributes 100% of its annual net profits to its shareholders in the form of dividends. These dividends are treated as regular income for personal income tax reporting.
  • The Class A Preferred Shares is RRSP, RRIF, RESP and TFSA eligible so long as Atlantic Advantage MIC qualifies as a MIC under the Tax Act.

Is AAMIC subject to annual audits?

  • Yes, The Board of Directors of AAMIC has appointed Ernst & Young LLP, Ernst & Young Tower, 100 Adelaide Street West, Toronto, Ontario, as auditor of the Corporation.

What investment reporting is available?

  • An investment statement detailing activities in each investment account will be sent to the investor monthly distribution.
  • In addition, an investor will receive a quarterly report on AAMIC investment portfolio.
  • Audited Annual Reports can be located under Financial Information or emailed to the investor upon request.

If you have more questions, please Contact Us.