Calpine Power Income Fund Announces Tax Information for 2004 Cash Distributions to Unitholders.CALGARY, Alberta -- Calpine Power Income Fund (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :CF.UN) today announced that the distributions received by unitholders in 2004 are determined to be 20% taxable and 80% will be treated as a Return of Capital ("ROC"). Unitholders are required to reduce the Adjusted Cost Base ("ACB ACB American Council of the Blind ACB Asia Commercial Bank ACB America's Community Bankers ACB Adjusted Cost Base ACB Alliance for the Chesapeake Bay ACB Amphibious Construction Battalion (US Navy) ACB Australian Cricket Board ") of their trust units by an amount equal to the cumulative distributions received during 2004 minus the cumulative taxable amounts reported as "Other Income" on the T3 slip. The Adjusted Cost Base is used in calculating capital gains or losses capital gains or losses n. particularly when calculating the tax liability of an individual or business, this is the difference between the original cost plus the cost of capital improvements, excluding maintenance, called "basis" and the sales price. on the disposition of trust units if the trust units are held as capital property by the owner. Unitholders holding their investment in a Registered Retirement Savings Plan Registered Retirement Savings Plan (RRSP) Tax-sheltered retirement plan for Canadian citizens, much like an American IRA. , Registered Retirement Income Fund A Registered Retirement Income Fund or RRIF is a tax-deferred retirement plan under Canadian tax law. Individuals use an RRIF to generate income from the savings accumulated under their Registered Retirement Savings Plan. or Deferred Profit Savings Plan should not report any income related to distributions on their 2004 income tax return. Unitholders holding their units outside such plans should receive a T3 Supplementary Information slip from their broker on or before March 31, 2005, and are required to report the taxable portion of distributions received as "Other Income" on their 2004 income tax return.
The following table summarizes tax information for Canadian residents:
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Taxable
Amount
(Box 26 - ACB
Total "Other Reduction
Distribution Income") ("ROC")
Record Date Payment Date (Cdn$) 100% 20% 80%
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December 31, 2003 January 20, 2004 $0.0785 $0.0157 $0.0628
January 31, 2004 February 20, 2004 $ 0.079 $0.0158 $0.0632
February 29, 2004 March 19, 2004 $ 0.079 $0.0158 $0.0632
March 31, 2004 April 20, 2004 $ 0.079 $0.0158 $0.0632
April 30, 2004 May 20, 2004 $ 0.079 $0.0158 $0.0632
May 31, 2004 June 18, 2004 $ 0.079 $0.0158 $0.0632
June 30, 2004 July 20, 2004 $ 0.081 $0.0162 $0.0648
July 31, 2004 August 20, 2004 $ 0.081 $0.0162 $0.0648
August 31, 2004 September 20, 2004 $ 0.081 $0.0162 $0.0648
September 30, 2004 October 20, 2004 $ 0.081 $0.0162 $0.0648
October 31, 2004 November 19, 2004 $ 0.081 $0.0162 $0.0648
November 30, 2004 December 20, 2004 $ 0.081 $0.0162 $0.0648
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The December 2004 distribution, paid on January 20, 2005, will be accounted for in the 2005 distribution amount. Unitholders who reside in jurisdictions other than Canada should consult their tax advisors A tax advisor is a financial expert especially trained in tax law. Some countries require tax advisors to verify the balance sheets of companies above a certain size. Individuals usually require tax advisors to minimize taxation, to avoid learning the details of tax law in with respect to the tax implications of the cash distributions received in 2004. Calpine Power Income Fund is an unincorporated Adj. 1. unincorporated - not organized and maintained as a legal corporation unorganised, unorganized - not having or belonging to a structured whole; "unorganized territories lack a formal government" open-ended trust that invests in electrical power assets. The Fund indirectly owns interests in power generating facilities in British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography , Alberta and California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). . In addition, the Fund owns a participating loan interest in a power plant in Ontario and has made a loan to Calpine Canada Power Ltd. The Fund is managed by Calpine Canada Power Ltd., which is headquartered in Calgary, Alberta. The Calpine Power Income Fund Units are listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol CF.UN. Calpine Power Income Fund (TSX:CF.UN) |
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