Here are answers for some commonly asked questions about investing in the Community Economic Development Business Still The Water:
- What year is the provincial tax credit good for?
- If you are a PEI tax payer, the credit is good for the previous year’s tax season if the Subscription Agreement is signed before March 1st and the RRSP is bought by then. After March 1st it will be counted for the current year’s tax season.
- What year is the RRSP good for?
- Same as above.
- Do I receive the RRSP and the provincial tax credit in the same year or can I claim them in different years?
- The RRSP tax credit applies to the year you bought it and the provincial tax credit can be the same year ,or can go back 3 years or ahead up to 7 years. But most buyers want to do both at the same time.
- If Still the Water makes any revenue would I receive any dividends?
- Yes, all the revenue that is made by Still the Water (after expenses specified in the budget supplied with the offering document) is divided up amongst the shareholders per share they have purchased.
- How long are shares invested?
- Shares are invested for a minimum of five years. After five years they can be rolled out, or if the movie is still making money they can remain.
- Will I receive an annual report or any analytics about how the movie is faring?
- Yes, we report to PEI Securities regularly and also hold annual shareholders’ meetings.
Want more information about CEDBs? Here are some links!