WINNIPEG, MB, December 20, 2022 /CNW/ – Artis Real Estate Investment Trust (“Artis” or “REIT”) (TSX: AX.UN) $0.16 per trust unit (“Unit”), which includes the $0.08 per Unit payable in cash and $0.08 per Unit payable in Units. This special distribution is in addition to the total monthly distribution $0.60 per unit during 2022. Special distributions are payable on December 31, 2022 to the shareholders (the “subsidiary holders”) of record until December 31, 2022, with payment of any cash distribution as soon as practicable after the payment date. After the release of the Group in accordance with the special division, the outstanding Artist Groups are merged so that each Member, after the merger, holds the same number of Units as the Member had before the special division .
The special distribution is intended primarily to distribute foreign income earned by the REIT from sales made in the United States during the year ended. December 31, 2022. A portion of the proceeds of the special distribution is intended to provide liquidity to shareholders to cover all or part of their Canadian income tax or non-resident tax obligations. which may occur in connection with a particular section.
Currently, there are a total of 115,795,094 Units issued and unissued.
Officials who live there Canada
The amount of special distribution paid to the Group will increase the adjusted value of the consolidated Group. Canadian owners who are exempt from general income tax will be required to include an equal share of the REIT’s income for the 2022 tax year , as allocated and assigned by the REIT, in computing its income for fiscal year 2022. Artis paid US income tax on the sale of the US property and this tax will be given the same to the holder so that the holder can claim either a credit or a deduction from foreign taxes, subject to the detailed rules and limitations set forth in the Tax Law .
Non-Resident Officers Canada
The manager does not live there Canada for Canadian federal income tax purposes may be subject to withholding tax in connection with the payment of special distributions.
Artis cautions that the foregoing comments are not intended to be, and should not be construed as, legal or tax advice for any shareholder. Artis advises Unitholders to consult their own tax advisors regarding the income taxes applicable to them in this anticipated special distribution and the related Unit merger.
Artis is a diversified real estate investment trust with a portfolio of industrial, office and retail properties in Canada and the United States. Artis’ vision is to build a best-in-class asset management and investment platform focused on increasing the value of diversified assets and distribution for investors through real estate investment.
Suite 600 – 220 Portage Avenue
Winnipeg, MB R 3 C 0 A 5
T 204. 947 .1250 F 204 .947. 0453
www. artreit. Fr
AX.UN on the TSX
SOURCE Artis Real Estate Investment Trust
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