PUBLIC STORAGE CANADIAN PROPERTIES

PUBLIC STORAGE CANADIAN PROPERTIES

March 31, 2011 16:02 ET

Public Storage Canadian Properties Announces 2010 Income for Tax Purposes

TORONTO, ONTARIO--(Marketwire - March 31, 2011) - Public Storage Canadian Properties ("the Partnership") (Previously traded as PUB on the TSX) today announced the Partnership's income for federal tax purposes of $7,232,421 and $8,306,206 capital gain for the tax year ended December 31, 2010 ("2010 Tax Income"). The 2010 Tax Income is allocated to Unitholders based on 2010 distributions.

For Unitholders who owned Units from January 1, 2010 through July 5, 2010 or September 8, 2010, the date of closing of the Tender Offer and Subsequent Acquisition transactions, respectively, whereby PS Canada Company ULC acquired all outstanding Units it or its affiliates did not own, the allocation of income for federal tax purposes per Unit is:

Business Income $0.40
Capital Gain $0.92
Total $1.32

The Partnership, through its Transfer Agent and Registrar, or Unitholder's brokerage firm, will provide each Unitholder who received a 2010 distribution with a Statement of Partnership Income, Canada Revenue Agency Form T-5013 Information Slip, and Montants attribués aux membres d'une société de personnes, Revenu Quebec Form RL-15 Slip, by March 31, 2011. These forms indicate the amount of income the Unitholder is responsible for reporting on their tax returns. Unitholders who have not received these forms should contact their broker or Transfer Agent and Registrar for assistance. Additional tax information is also provided on the Partnership's website http://pscinvestor.com/tax-matters. Unitholders are advised to consult with their tax advisor regarding questions related to the reporting of partnership income on their federal and provincial returns.

Contact Information

  • Public Storage Canadian Properties
    Vincent Chan
    (866) PS-CANADA or (866) 772-2623