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? (2017 or 2018)
- If you are a PEI tax payer the credit is good for 2017 tax season if the Subscription Agreement is signed before March 1st and the RRSP is bought by then too! After March 1st it is will be counted for the 2018 tax season.
- What year is the RRSP good for? (2017 or 2018)
- 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 with all the shareholders per share they have purchased.
- How long is the share good for?
- Shares are invested for minimum of 5 years and can rolled out, or if the movie is still making money and you are satisfied with the amount it is making it can stay in.
- Will I receive an annual report or any analytics about how the movie is fairing?
- Yes we have to report to PEI Securities every 6 months and will have an annual shareholders meeting.
Want more information about CEDBs? Here are some links!