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.
- What are the existing AAMIC investor profiles?
- What is AAMIC investment process?
- When does an investor start earning dividend interest?
- What is the documentation proof on investment?
- What category of Accredited (Individual) Investor is accepted by AAMIC?
- What is the “Family, Friend & Business Associate” Category”?
- Redeeming an AAMIC Investment?
- How is AAMIC different from mutual funds and REITS?
- How many account can an investor have with AAMIC
- What is the tax implication?
- Is AAMIC subject to annual audits?
- What investment reporting is available?