TAX INFORMATION – LIMITED PARTNERS

The information contained on this web page is strictly for information purposes and should in no way be regarded as tax advice. We recommend that investors consult with their tax advisor to determine the optimal use of their tax deductions and applicable tax credits, as well as, the impact, if any, of any alternative minimum tax. If you are a corporation or trust and require assistance, please also consult with your tax advisor.

All investors are responsible for providing any mailing address changes to Terra by email to ensure that their tax statements are received in a timely manner.

Flow-Through LP Tax Deduction Forms for Unitholders (Years 1 & 2)
Each year the flow-through limited partnership issues tax information to its limited partners in the form of a T5013A Statement of Partnership Income ("T5013A") and Releve 15 ("RL-15"). The RL-15 is only issued to Quebec residents. These tax forms assist unitholders of a partnership in preparing their individual tax return and in claiming the flow-through share tax deduction and applicable tax credits.

The T5013A and RL-15 tax forms are typically mailed to all limited partners on March 31 of the year following the year of investment.

For an explanation of the entries in the T5013A and RL-15 Forms from each tax authority see below:

T5013A Form

RL-15 Form

After filing your tax return, on occasion CRA will send a follow-up form letter requesting a copy of a T101 or T1229. Simply send a copy of your T5013A, and indicate in the covering letter addressed to CRA that there are no T101s as these were already filed by the flow-through limited partnership. With respect to the T1229 form, the computerized tax preparation program that you or your accountant used to generate your tax return should have also generated a T1229 form. If not, you will need to fill out a T1229 manually included below.

T1229 Tax Form

Additional Flow-Through LP Deduction Forms & Letter for Unitholders (Years 3 thru 6)
For tax deductions in year 3 and the years after the limited partnership is dissolved (i.e. years 4 thru 6), investors will receive a T5013A / RL-15 tax form and separate letter detailing the remaining deductions they are entitled to claim. Because the limited partnership cannot issue a T5013A or RL-15 tax form after it has been dissolved, the letter provides a schedule of the remaining deductions available to the limited partners in each particular year. For a copy of the letter detailing the remaining deductions for a particular limited partnership, please refer to the tab titled "Undeducted Issue Costs."