The following summary is intended to assist unitholders of Westshore Terminals Investment Corporation stapled units (the "units") in understanding the income tax treatment of the distributions made in 2011. Unitholders are also encouraged to consult their own tax advisors for appropriate tax advice based on their particular circumstances.
Individual Canadian Resident Unitholders
Canadian resident unitholders will receive a "T5 Statement of Investment Income" slip (the "T5 slip") outlining the nature of the quarterly distributions received during 2011. The T5 slips are prepared by the unitholders' brokerage firms and are normally available by March 31 of each year.
The following table summarizes the per-unit distributions received in the 2011 calendar year:

Record

Date

Payment

Date

Interest

Income Per

Unit

Dividend income1

Per Unit

Total

Distribution

Mar 31/11

Apr 15/11

$0.13125

$0.140

$0.27125

Jun 30/11

Jul 15/11

$0.13125

$0.110

$0.24125

Sep 30/11

Oct 15/11

$0.13125

$0.160

$0.29125

Total

$0.39375

$0.410

$0.80375

"Interest income" is taxable to unitholders and is reported on the T5 slip in Box 13. "Dividend income" is taxable to unitholders and is reported on the T5 slip in Box 24.
U.S. Unitholders
Distributions of income in the 2011 calendar year are considered foreign-source dividend income under U.S. federal income tax rules, reportable on a Form 1099-DIV. Providing that applicable unit holder-level requirements are met, these distributions may be "qualified dividends", eligible for taxation at reduced rates under U.S. federal income tax rules.
Distributions of income by the Fund to U.S. unitholders are generally subject to Canadian withholding tax of 15%. U.S. unitholders are advised to seek advice from their tax advisors for the tax treatment of distributions.
For further information please refer to the "Information for U.S. investors" link on the website.
Other Non-Resident Unitholders
Distributions of income to non-resident unitholders are generally subject to the general Canadian withholding tax of 25%. However, this withholding rate may be reduced if an income tax treaty or convention has been entered into between Canada and the foreign jurisdiction.

1 Dividends distributed are designated to be eligible dividends pursuant to subsection 89(14) of the Income

Tax Act (Canada) and any applicable legislation pertaining to eligible dividends.

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Ce communiqué a été diffusé par Westshore Terminals Investment Corporation et publié initialement sur http://www.westshore.com/pdf/finance/2011/incometax.pdf . Il a été distribué par noodls le 2012-03-22 20:21:00 PM sans aucune modification. L’émetteur est seul responsable de l’exactitude des informations fournies.