Tag: 130.1

28 Apr

Do MICs need to file an exempt distribution report for shares issued under a DRIP?

Should a Mortgage Investment Corporation ("MIC"), include exempt distributions of shares or other securities issued under a reinvestment plan (i.e. a DRIP or Dividend Reinvestment Plan),...

23 Dec

Taxation of a MIC, a Mortgage Investment Corporation

The MIC itself will not pay income tax so long as the profits are flowed through to the shareholders and taxed in their hands. This is...

23 Dec

Managing A MIC, a Mortgage Investment Corporation

The creation of a MIC is similar to other corporations in the method of organization, election of directors/officers and the faculty to appoint committees, hire employees,...

14 Aug

A MIC or a Mortgage Investment Corporation: What are they and how do you start one?

With significant potential for favourable rates of return and previously instituted tax exemptions, Canadian Mortgage Investment Corporations (MIC’s) are increasingly becoming recognized as a low-risk method...