When units are sold for cash on the TSE, or are transferred to a new owner (for example, transferring from a single client name to a joint tenants with rights of survivorship), 50% of the resulting capital gain must be reported as taxable income, as outlined in the Tax Act.

Only the income portion of the Trust's quarterly distributions is taxable to the investor. This income is fully taxable and will be categorized for tax purposes as "other investment income". There are no taxable Canadian dividends from the Trust, and distributions are not eligible for the dividend tax credit. Any cash distribution over the taxable income will be in the form of a non-taxable principal repayment, or return of capital.

All T3 tax receipts for Unitholders of the Mackenzie Income Trust are supplied by the Dealers through which the units were purchased. These receipts are normally sent by the end of February. Please contact your financial advisor or securities broker if you have not received your tax receipt.