# IPL Corporate Conversion



## Pickering (Jun 24, 2011)

This applies to all of us holding IPL.UN / IPL on Sept 1 2013. If you check your statements , you will find that your book value has been adjusted to reflect the share price on Sept 1 2013. The difference in B/V,s between your Aug 2013 & Oct 2013 Statements is fully taxable as capital gains in 2013. Suspect this will trigger a huge tax bill for many of us. It did for me !

Apparently, this is the custom with trust conversions: however this one is slightly different in that it is not being widely promoted and IPL has left the ACB calculation, paperwork and filing up to it's unit holders. If you supply completed and accurate paperwork - IPL will submit to the CRA.

Go to the IPL web page and click on the red tax election button prominently displayed at the top. They make it quite clear that we are to calculate our own ACB and submit all paperwork to them - deadline being Dec 1 2013. Only then can the capital gain tax be deferred.


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