Vault Energy Trust

Vault Energy Trust

March 21, 2007 18:24 ET

Vault Energy Announces 2006 Canadian Tax Information

CALGARY, ALBERTA--(CCNMatthews - March 21, 2007) - The following information is provided to assist individual Canadian Unitholders of Vault Energy Trust (TSX:VNG.UN) in the preparation of their 2006 Income Tax Return and is not considered tax advice to any particular individual, but rather as general information.

Vault Energy Trust (Vault) (TSX:VNG.UN) today has determined that for Canadian unitholders, distributions declared in 2006 are to be 64 percent taxable and 36 percent tax deferred return of capital (ROC).

Canadian unitholders holding their Vault investment in a Registered Retirement Savings Plan, Registered Retirement Income Fund or Deferred Profit Savings Plan should not report any income related to distributions on their 2006 income tax return. Unitholders holding their units outside such plans will receive a T3 Supplementary Information slip (T3), postmarked on or before March 31, 2007. Vault's Canadian registered unitholders should receive a T3 from Vault's transfer agent, Valiant Trust. Unitholders that hold their units through a broker or other intermediary should receive a T3 directly from their broker or intermediary and not from Vault or Vault's transfer agent. Unitholders are to report the taxable portion of distributions as "other income" on their 2006 income tax return.

Canadian unitholders are required to reduce the adjusted cost base (ACB) of their trust units by an amount equal to the tax deferred portion of the distributions. The ACB is used to calculate capital gains or losses on the disposition of trust units. An ACB calculator can be found on Vault Energy's website that can assist Canadian unitholders with this calculation.

Vault Energy Trust is a conventional oil and gas income trust. Vault units are traded on the Toronto Stock Exchange (TSX) under the symbol "VNG.UN". Convertible debentures of Vault trade on the TSX under the symbols "VNG.DB", and "VNG.DB.A".

Contact Information

  • Vault Energy Trust
    Robert Jepson
    President and Chief Executive Officer
    (403) 444-9662
    Vault Energy Trust
    Greg Fisher
    VP, Finance and Chief Financial Officer
    (403) 444-9651
    Vault Energy Trust
    Nicole Collard
    Investor Relations
    (403) 444-9657