Citadel Premium Income Fund
TSX : CPF.UN

Citadel Premium Income Fund

March 07, 2008 14:45 ET

Citadel Premium Income Fund 2007 Income Tax Information

CALGARY, ALBERTA--(Marketwire - March 7, 2008) - The following information is intended to assist holders of units of Citadel Premium Income Fund (the "Trust") (TSX CPF.UN) in the preparation of their 2007 Income Tax Return. This summary table below is directed to a unitholder who, for the purposes of the Income Tax Act (Canada) is a resident of Canada and holds the units as capital property.



Non- Return Total
Record Eligible Eligible Capital of Distri-
Date Pay Date Income Dividends Dividends Gain Capital bution

31-Jan-07 15-Feb-07 $0.06141 $0.00174 $0.00025 $ - $0.02160 $0.08500
28-Feb-07 15-Mar-07 $0.06141 $0.00174 $0.00025 $ - $0.02160 $0.08500
31-Mar-07 16-Apr-07 $0.06141 $0.00174 $0.00025 $ - $0.02160 $0.08500
30-Apr-07 15-May-07 $0.06141 $0.00174 $0.00025 $ - $0.02160 $0.08500
31-May-07 15-Jun-07 $0.06141 $0.00174 $0.00025 $ - $0.02160 $0.08500
30-Jun-07 16-Jul-07 $0.06141 $0.00174 $0.00025 $ - $0.02160 $0.08500
31-Jul-07 15-Aug-07 $0.06141 $0.00174 $0.00025 $ - $0.02160 $0.08500
31-Aug-07 14-Sep-07 $0.06141 $0.00174 $0.00025 $ - $0.02160 $0.08500
30-Sep-07 15-Oct-07 $0.06141 $0.00174 $0.00025 $ - $0.02160 $0.08500
31-Oct-07 15-Nov-07 $0.06141 $0.00174 $0.00025 $ - $0.02160 $0.08500
30-Nov-07 14-Dec-07 $0.06141 $0.00174 $0.00025 $ - $0.02160 $0.08500
31-Dec-07 15-Jan-08 $0.06141 $0.00174 $0.00025 $ - $0.02160 $0.08500
31-Dec-07 15-Jan-08 $0.03613 $0.00103 $0.00014 $ - $0.01270 $0.05000
31-Dec-07
31-Dec-07 (i)$ - $ - $ - $ - $ - $ -
--------------------------------------------------------
$0.77305 $0.02191 $0.00314 $ - $0.27190 $1.07000
--------------------------------------------------------


Each Unitholder will receive a T3 supplementary slip for 2007 that will indicate the amount of "Other Income" - Box 26 ,"Eligible Dividends" - Box 49, "Non-Eligible Dividends" - Box 23, and "Capital Gains" - Box 21 that are to be included in their tax return. The dividends will be subject to the gross-up and federal dividend tax credit rules. The T3 supplementary slips are prepared by Computershare Trust Company of Canada and/or investment dealers.

The "Return of Capital" (Box 42) is a non-taxable amount and will reduce the Adjusted Cost Base of the Unitholder's Units.

(i) Special non-cash distribution

The Fund originally declared a special non-cash distribution of an estimated amount of $0.15 per unit to unitholders of record on December 31, 2007. As a result of higher than expected Capital Gains Refund, the value of the special non-cash distribution of record on December 31, 2007 has been adjusted to nil per unit.

If the Units were held within a RRSP, DPSP, or RRIF, then no T3 slip will be received and no amount would be required to be reported on the unitholder's personal tax return.

Contact Information

  • Citadel Premium Income Fund
    Joe MacDonald
    Executive Vice President, Sales and Marketing
    1-877-261-9674
    Website: www.citadelfunds.com