Flow-Through 2009 Tax Information
In response to the number of changes in the filing of the Statement of Partnership Income (T5013A) and Relevé 15 (RL-15) for BluMont Augen Limited Partnership 2007-1, BluMont Augen Limited Partnership 2008 and BluMont Quebec Limited Partnership 2008, we felt it necessary to clarify the calculations for the filing process.
Summary of changes and some helpful tax information:
- Business income box 22 and box 1 of the T5013 and Relevé 15 respectively, were mistakenly reported and have since been amended.
- Relevé 15 box 10 (only applicable respectively for qualified farm property, qualified fishing property and qualified small business shares) was moved to box 12 for reporting taxable capital gains or losses.
- Relevé 15 box 45 has been updated with eligible taxable capital gains on resource property for Quebec investors to claim a deduction by filing a TP-726.20.2V form. Box 45 will have to be reported on line 27 of the TP-726.20.2V form.
- Amortization of the undeducted issue costs of the LPs can be claimed on your tax return. The amount per unit is posted here under Schedule of Amortization of Issue Costs.
These issue costs are to be reported on your Federal Income Tax Return at line 232 and for Quebec Income Tax Return at line 250 under “other deductions”.
- The Final ACB at Rollover of the LPs are calculated after adjusting for distributions and undeducted issue costs. This information is used to calculate the deemed capital gain or loss on dispositions of the RS Fund and Exemplar Canadian Focus Portfolio (Series R Units).
- If you have not received your amended T5013A or Relevé 15, click here to download the form for your relevant Partnership.
Click here for a sample calculation for calculating your Deemed Capital Gain or Loss.