Drive Products Income Fund
TSX : DPI.UN

Drive Products Income Fund

February 21, 2008 12:48 ET

Drive Products Income Fund Announces the Tax Treatment of 2007 Distributions

TORONTO, ONTARIO--(Marketwire - Feb. 21, 2008) - Drive Products Income Fund (TSX:DPI.UN) today announced the tax treatment of its 2007 cash distributions. For tax purposes, 59.42% of the cash distributions were considered income and 40.58% represented a return of capital. The appropriate tax slips should be available to unitholders through their brokers by the end of February 2008.

Unitholders who are non-residents of Canada will be required to pay all withholding taxes payable in respect of any distributions by the Trust.

The following schedule details the cash distributions declared in 2007 and the tax treatment of each distribution per unit for income tax purposes:



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Return of
Taxable Amount Capital Total
Record Date Payment Date T3-Box 26 T3-Box 42 Distribution
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$ $ $
1/31/2007 2/15/2007 0.05447 0.03720 0.09167
2/28/2007 3/15/2007 0.05447 0.03720 0.09167
3/30/2007 4/13/2007 0.05447 0.03720 0.09167
4/30/2007 5/15/2007 0.05447 0.03720 0.09167
5/31/2007 6/15/2007 0.03813 0.02604 0.06417
6/29/2007 7/13/2007 0.03813 0.02604 0.06417
7/31/2007 8/15/2007 0.03813 0.02604 0.06417
8/31/2007 9/14/2007 0.03813 0.02604 0.06417
9/28/2007 10/15/2007 0.03813 0.02604 0.06417
10/31/2007 11/15/2007 0.03813 0.02604 0.06417
11/30/2007 12/14/2007 0.03813 0.02604 0.06417
12/31/2007 1/15/2008 0.03813 0.02604 0.06417
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0.52292 0.35712 0.88004
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About Drive Products Income Fund

Founded in 1983, Drive Products is a Canadian leader in the design and installation of systems solutions that transform a conventional new truck chassis into a specialized vehicle that meets a customer's technical and performance requirements. To achieve this, Drive Products offers a wide variety of products such as PTOs, hydraulic pumps, motors and coolers, winches, cables and controls, drivelines, blowers and compressors, hoses and fittings, custom consoles, snowplows, spreaders and electronic spreader controls, from leading international manufacturers, in many instances as the sole distributor in Canada.

The Fund was created on August 25, 2006 and the Fund's units trade on the Toronto Stock Exchange under the symbol DPI.UN. Additional information on Drive Products, can be viewed at www.driveproducts.com.

Forward Looking Statements

This press release contains forward-looking statements relating to expected future events and financial and operating results of the Fund. These statements involve risks and uncertainties. Actual results may differ materially from those anticipated by such forward-looking statements for a variety of reasons, including market and general economic conditions and the risks and uncertainties detailed from time to time in the Fund's continuous disclosure documents filed with the Canadian securities regulatory authorities. The Fund disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.

Contact Information

  • Drive Products Income Fund
    Gregory Edmonds
    Chief Executive Officer
    (905) 564-5800
    Website: www.driveproducts.com