,CANADA ,CU/OMS                       #A
& ,REV5UE ,AG5CY

              ,9COME ,TAX
          ,9T]PRET,N ,BULLET9
    
,SUBJECT3 ,,9COME ,,TAX ,,ACT
  ,9T]E/ ,9COME
,NUMB]3 ,,IT-#CIF;,R
,DATE3 ,MAY #BI1 #AIHD
,REF];E3 ,P>AGRAPH #AB7#A77C7 7AL
  SUBSEC;NS #AB7#C7 TO 7#AA71 #AF7#A71
  #BJ7#AD7 #BJ7#BA7 & #GJ7#A7 & SUBSEC;N
  #BJA7#D7 & ,"P ,,LXX (! ,9COME ,TAX
  ,REGUL,NS7

  ,? BULLET9 REPLACES & C.ELS ,,IT-#CIF
DAT$ ,OCTOB] #AG1 #AIGG1 ,,IT-#BHD;,R
DAT$ ,JANU>Y #CJ1 #AIGH & ,SPECIAL
,REL1SE TO ,,IT-#BHD;,R DAT$ ,DECEMB]
#BH1 #AIHB4

#A4 ,? BULLET9 EXPLA9S C]TA9 REQUIRE;TS
  (! ,9COME ,TAX ,ACT RELAT+ 6! -PUT,N &
  REPORT+ ( 9T]E/ 9COME4 ,P>AGRAPH    #A
              ,,IT-#CIF;,R           A#A
  #AB7#A77C7 REQUIRES A TAXPAY] 6REPORT
  9T]E/ 9COME EI :5 X IS RCVD 7-MONLY
  REF]R$ 6Z ! 8CA% ME?OD07 OR :5 X IS
  RECEIVA#4 ,! PROVI.NS ( P>AGRAPH
  #AB7#A77C7 >E1 H["E1 SUBJECT 6!
  OV]RID+ PROVI.NS DESCRIB$ 9 #H & #I
  2L1 "S ( : 7 NEWLY 5ACT$ E6ECTIVE =
  TAX,N YE>S -M5C+ AF #AIHB &1 AM;G O!R
  *ANGES1 IMPOSE1 =! F/ "T ON
  9DIVIDUALS1 ! REQUIRE;T 6USE ! A3RUAL
  ME?OD = REPORT+ 9T]E/ 9COME 7I4E4 !
  ?REE-YE> A3RUAL ME?OD74 ,= TAX,N YE>S
  -M5C+ 2F #AIHC ! ,DE"P;T A3EPT$ 7ON AN
  OP;NAL BASIS7 ! A3RUAL ME?OD = REPORT+
  9T]E/ 9COME "U P>AGRAPH #AB7#A77C74

              ,CA% ,ME?OD
    
#B4 ,9T]E/ IS RCVD 0A TAXPAY]1 OR 0A
  F9ANCIAL AG5T ACT+ ON ! TAXPAY]'S
  2HALF1 AT ! "T :5 PAY;T (! 9T]E/ DEBT
  IS MADE 9 CA% OR XS EQUIVAL5T4 ,=
  EXAMPLE1 A TAXPAY] IS 3SID]$ 6RCV
  PAY;T :5                            #B
              ,,IT-#CIF;,R           B#A
  7A7 "! IS A CR$IT 6! TAXPAY]'S BANK
    A3.T1
  7B7 "! IS AN (FSET AG/ AN AM.T [+ 0!
    TAXPAY]1
  7C7 A *EQUE IS A3EPT$ Z PAY;T1
  7D7 ! VALUE (A -MOD;Y IS A3EPT$ 9 LIEU
    ( CA%1 OR
  7E7 A NEW T]M DEPOSIT C]TIFICATE IS
    ISSU$ = 9T]E/ E>N$ ON A MATUR$
    C]TIFICATE4
#C4 ,RECEIPT ( 9T]E/ REPRES5T$ 0MATUR$
  BOND 9T]E/ C\PONS IS 3SID]$ 6O3UR ONLY
  :5 !Y >E 9 FACT CA%$1 SOLD1 GIV5 9
  PAY;T ( DEBT1 OR O!RWISE NEGOTIAT$4
  ,H["E1 = TAX,N YE>S -M5C+ AF #AIHB ALL
  9DIVIDUALS W 2 REQUIR$ 6REPORT1 AT L1/
  E ?IRD YE>1 9T]E/ 9COME ON ! A3RUAL
  BASIS
--------------------------------------#B
  ) RESPECT 6C]TA9 DEBT OBLIG,NS :E!R OR
  N 9T]E/ "!ON IS PAYA# 0C\PON4 ,SEE #AH
  6#BG 2L = AN EXPLAN,N ( ? NEW
  REQUIRE;T & O!R SPECIAL MATT]S4
                                      #C
            ,RECEIVA# ,ME?OD         A#B
    
#D4 ,9T]E/ IS RECEIVA# 0A TAXPAY] :5 "!
  IS A CLE> LEGAL "R 6RCV X4
  ,6ILLU/RATE1 ASSUME T A TAXPAY]
  PUR*AS$ A 4#A1JJJ BOND ON XS ISSUE
  DATE ( ,APRIL #A1 #AIHJ1 BE>+ 9T]E/ AT
  #I@3P PAYA# 0SEMI-ANNUAL C\PON ON
  ,APRIL #A & ,OCTOB] #A4 ,ON ,OCTOB]
  #A1 #AIHJ1 9T]E/ 9 ! AM.T ( 4#DE WD 2
  RECEIVA# 0! TAXPAY]1 S9CE T IS ! AM.T
  : IS LEG,Y PAYA# ON T "D & WD 2 ! AM.T
  6BE REPORT$ Z 9COME 9 #AIHJ "U !
  RECEIVA# ME?OD EV5 ?\< ! ,OCTOB] #A/
  C\PON 0 N NEGOTIAT$ UNTIL #AIHA OR A
  SUBSEQU5T YE>4 ,9T]E/ 9 ! AM.T ( 4#DE
  WD 2 RECEIVA# 0! TAXPAY] TWICE YE>LY
  ON ,APRIL #A & ,OCTOB] #A ( #AIHA &
  EA* SUBSEQU5T YE> "?\T ! T]M (! BOND4
  ,"U ! RECEIVA# ME?OD ! TAXPAY] WD
  REPORT ! SUM ( 4#IJ Z 9T]E/ 9COME =
  #AIHA & EA* SUBSEQU5T TAX,N YE> "?\T :
  ! TAXPAY] HELD ! BOND4 ,IF ! BOND
  MATURES ON ,APRIL #A1 #AIIJ1 9COME = T
  YE> WD 2 4#DE4                      #D
             ,A3RUAL ,ME?OD          B#B
    
#E4 ,"U ! A3RUAL ME?OD1 9T]E/ IS 3SID]$
  6BE E>N$ ON A DAILY BASIS1 REG>D.S (
  :5 ! 9T]E/ DEBT 2COMES RECEIVA# OR IS
  RCVD4 ,9 ! EXAMPLE GIV5 9 #D ABV1 A
  TAXPAY] US+ ! A3RUAL ME?OD WD REPORT
  9T]E/ ( 4#FG.HJ 9 #AIHJ =! #BGE "DS 9
  ! YE> DUR+ : HE [N$ ! BOND1 CALCULAT$
  Z FOLL[S3

  7#BGE DIVID$ 0#CFE7 MULTIPLI$ 0#I@3P
    MULTIPLI$ 04#A1JJJ EQUALS 4#FG.HJ
  
  ,) RESPECT ONLY 6,CANADA ,SAV+S
  ,BONDS1 X IS A3EPTA# 6A3RUE 9T]E/ ON A
  BOND YE> BASIS 7,OCTOB] #CA 6,NOVEMB]
  #A7 R ?AN ON A CAL5D> YE> BASES 7SEE
  #BE 2L74 ,AL? ! A3RUAL ME?OD (
  CALCULAT+ 9T]E/ 0 A -MON A3.T+ 3CEPT1
  XS USE 0 N M&ATORY = TAX PURPOSES
  UNTIL ! 5ACT;T ( SUBSEC;N #AB7#C71
  E6ECTIVE =! #AIGE & SUBSEQU5T TAX,N
  YE>S1 : REQUIR$ XS USE 0C]TA9
  TAXPAY]S1 CLASSIFI$ G5],Y Z         #E
              ,,IT-#CIF;,R           C#B
  F9ANCIAL CORPOR,NS4 ,SUBSEC;N #AB7#C7
  0 AM5D$ = TAX,N YE>S -M5C+ AF ,OCTOB]
  #BH1 #AIHJ 6EXT5D ! REQUIRE;T 6C]TA9
  O!R CORPOR,NS1 "PN]%IPS & C]TA9 TRU/S
  & 0 FUR!R AM5D$ = TAX,N YE>S -M5C+ AF
  #AIHB1 6CL>IFY T ! 9T]E/ A3RUAL
  REQUIRE;T APPLIES ONLY ": "! IS A DEBT
  OBLIG,N 7SEE #AE 6#AG 2L74 ,!
  REQUIRE;T 6USE ! A3RUAL ME?OD 6REPORT
  9T]E/ 9COME WAS1 ) C]TA9 DEF]RALS &
  EXCLU.NS1 EXT5D$ 69DIVIDUALS = TAX,N
  YE>S -M5C+ AF #AIHB 7SEE #AH 6#BG 2L74
--------------------------------------#C
       8,ME?OD ,REGUL>LY ,FOLL[$0
    
#F4 ,! ^WS 9 P>AGRAPH #AB7#A77C7 8DEP5D+
  ^U ! ME?OD REGUL>LY FOLL[$ 0! TAXPAY]
  9 -PUT+ 8 PR(IT0 >E 9T]PRET$ 6REF] 6!
  TAXPAY]'S ME?OD ( A3.T+ = NET 9T]E/
  9COME F A "PICUL> S\RCE & N NECESS>ILY
  6! TAXPAY]'S ME?OD ( A3.T+ = O!R TYPES
  ( 9COME4 ,= EXAMPLE1 A TAXPAY] :O MI<T
  H 3SI/5TLY US$ ! RCVD 7CA%7 ME?OD
  6REPORT 9T]E/ 9COME F BONDS )\T     #F
              ,,IT-#CIF;,R           A#C
  C\PONS W H E/ABLI%$ A 8ME?OD REGUL>LY
  FOLL[$04 ,IF T ME?OD IS R1SONA# 9 !
  CIRCUM/.ES1 P>AGRAPH #AB7#A77C7
  REQUIRES ! TAXPAY] 6RETA9 XS USE F YE>
  6YE> EXCEPT ":1 Z 4CUSS$ LAT] 9 ?
  BULLET91 A *ANGE 9 ME?OD 2COMES
  OBLIGATORY OR IS MADE VOLUNT>ILY
  0ELECT+ "U SUBSEC;N #AB7#H74 ,AL?
  P>AGRAPH #AB7#A77C7 P]MITS A TAXPAY]
  6REPORT 9T]E/ 9COME F DI6]5T S\RCES
  US+ DI6]5T ME?ODS1 X IS ! ,DE"P;T'S
  POSI;N T 9T]E/ F ! SAME S\RCE 7I4E4
  SAME PAY]1 ON SAME TYPE ( 9T]E/-YIELD+
  PROP]TY7 M/ 2 REPORT$1 )9 ! 3F9ES ( T
  P>AGRAPH1 US+ ! SAME ME?OD4
#G4 ,= TAX,N YE>S -M5C+ 2F #AIHC1 9
  RESPECT ( DEBT OBLIG,NS 6: SUBSEC;N
  #AB7#C7 DID N APPLY 7P>AGRAPH
  #AB7#A77C7 HAV+ APPLIC,N71 TAXPAY]S 7
  P]MITT$ 6*ANGE F ! RCVD 7CA%7 ME?OD (
  REPORT+ 9T]E/ 9COME 6! RECEIVA# OR
  A3RUAL ME?OD1 OR F ! RECEIVA# ME?OD 6!
  A3RUAL ME?OD1 IF !Y _H A VALID R1SON =
  *ANG+ & _H OBTA9$ PRIOR APPROVAL    #G
              ,,IT-#CIF;,R           B#C
  F ! ,DE"P;T 6D S4 ,A4I;N,Y1 9DIVIDUALS
  7 P]MITT$ 6*ANGE 6EI ! RECEIVA# OR
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  SIMPLY 0FIL+ A RETURN ON T BASIS &
  PROVID$ ! *ANGE 0 MADE =! PURPOSE ONLY
  ( TAK+ ADVANTAGE (! 9T]E/ & DIVID5D
  9COME DEDUC;N4 ,X 0 ! ,DE"P;T'S
  POSI;N1 = ^? SAME YE>S1 T ANY S*
  *ANGES WD N 2 P]MITT$ RETROACTIVELY &
  T1 ONCE E6ECT$1 !Y 7 IRREV]SI#4
  ,TAXPAY]S 7 N1 "U ANY CIRCUM/.ES1
  P]MITT$ 6*ANGE 6OR 6REV]T 6! RCVD
  7CA%7 ME?OD F EI ! RECEIVA# OR !
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  -M5C+ AF #AIHB 9 RESPECT ( DEBT
  OBLIG,NS 6: P>AGRAPH #AB7#A77C7 3T9UES
  6APPLY1 ! ABV RULES 3T9UE 6APPLY1 B
  SUBJECT 6! FOLL[+ EXCEP;NS4 ,TAXPAY]S
  :O US$ ! A3RUAL ME?OD1 Z \TL9$ 9 #E
  ABV1 6REPORT 9T]E/ 9COME F "PICUL>
  DEBT OBLIG,NS =! LA/ TAX,N YE> -M5C+
  2F #AIHC %D 3T9UE 6USE T ME?OD4 ,9 ^!
  CIRCUM/.ES AN ELEC;N PURSUANT
  6SUBSEC;N #AB7#H7 7SEE #BA 2L7      #H
              ,,IT-#CIF;,R           C#C
  6USE ! A3RUAL ME?OD ( REPORT+ )
  RESPECT 6A "PICUL> OBLIG,N W N 2
  REQUIR$4 ,H["E1 EXCEPT ": A TAXPAY]
  IS1 0VIRTUE ( SUBSEC;N #AB7#C71
  REQUIR$ 6USE ! A3RUAL ME?OD 6REPORT
  9T]E/ 9COME1 T ME?OD MAY N 2 US$1 ON
  AN ANNUAL BASIS1 9 RESPECT (A DEBT
  OBLIG,N ACQUIR$ 9 ANY TAX,N YE> -M5C+
--------------------------------------#D
  AF #AIHB UN.S AN ELEC;N ) RESPECT "!TO
  HAS BE5 MADE 9 A3ORD.E ) SUBSEC;N
  #AB7#H74 ,SIMIL>LY1 ": A TAXPAY] US$ !
  RCVD 7CA%7 OR RECEIVA# ME?OD 9 ! LA/
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  ON AN OBLIG,N ACQUIR$ 9 T OR A PRIOR
  YE>1 A *ANGE 6! A3RUAL ME?OD = TAX,N
  YE>S -M5C+ AF #AIHB C 2 A3OMPLI%$ ONLY
  0M1NS ( AN ELEC;N "U SUBSEC;N #AB7#H74





                                      #I
          ,OV]RID+ ,PROVI.NS 9       A#D
          ,SPECIAL ,CIRCUM/.ES
    
#H4 ,Z 9DICAT$ 9 #A ABV1 P>AGRAPH
  #AB7#A77C7 IS N APPLICA# ": ANY O!R
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  PROVI.NS REQUIRE T 9T]E/ 9COME 2
  REPORT$ ON ! A3RUAL BASIS 9 C]TA9
  CIRCUM/.ES
  ,SUBSEC;NS #AB7#C7 TO 7#AA7--,9T]E/
    9COME ( 9DIVIDUALS1 CORPOR,NS1
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    2L74
  ,SUBSEC;NS #BJ7#AD7--,": A DEBT
    OBLIG,N 7O!R ?AN AN 9COME BOND1 AN
    9COME DEB5TURE1 A SMALL BUSI;S
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    9CLUDE 9 9COME =! YE> ( TRANSF] !
    AM.T ( 9T]E/ A3RU$ F ! PREC$+ 9T]E/
    DATE EXCEPT 6! EXT5T T X 0 O!RWISE
  
                                     #AJ
              ,,IT-#CIF;,R           B#D
    9CLUD$ 9 -PUT+ 9COME =! YE> OR A
    PREC$+ TAX,N YE> 7SEE ,,IT-#DAJ74
  ,SUBSEC;N #GJ7#A7--,9T]E/ A3RU$ F !
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    ( D1? (A TAXPAY] IS REQUIR$ 6BE
    9CLUD$ 9 9COME =! YE> ( D1? 7SEE
    ,,IT-#BAJ;,R74
#I4 ,9T]E/ T IS ACTU,Y RCVD 0"O P]SON
  MAY 2 DEEM$ 0SPECIFIC PROVI.N (! ,ACT
  6BE RCVD 0ANO!R P]SON4 ,"S (! M -MON
  EXAMPLES ( S* PROVI.NS >E ! FOLL[+3
  7A7 ,9T]E/ RCVD 0A P]SON ON A PROP]TY
    TRANSF]R$ F T P]SON'S SP\SE MAY1
    0VIRTUE ( SEC;N #GD1 2 DEEM$ 6BE
    9COME (! TRANSF]OR 7SEE
    ,,IT-#BEH;,R#B74
--------------------------------------#E
  7B7 ,9T]E/ RCVD 0A P]SON "U #AH YE>S (
    AGE ON A PROP]TY TRANSF]R$ 6T P]SON
    0A TAXPAY] MAY1 0VIRTUE ( SEC;N #GE1
    2 DEEM$ 6BE 9COME (! TAXPAY] 7SEE
    ,,IT-#BFJ;,R74
  7C7 ,AN 9T]E/ PAY;T MADE 6ANO!R P]SON
    "U ! DIREC;N (1 OR )! 3CURR;E    #AA
              ,,IT-#CIF;,R           A#E
    (1 ! [N] ( AN 9T]E/-BE>+ PROP]TY =!
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    DESIR$ 63F] ON ! O!R P]SON1 IS1
    0VIRTUE ( SUBSEC;N #EF7#B71 REQUIR$
    6BE 9CLUD$ 9 ! [N]'S 9COME 7SEE
    ,,IT-#CCE74
#AJ4 ,UNCA%$ MATUR$ BOND 9T]E/ C\PONS ON
  H& AT ! DATE ( D1? (A TAXPAY] :O
  REPORT$ ? TYPE ( 9COME "U ! CA% ME?OD
  >E 3SID]$ 6BE 8"RS OR ?+S0 Z DESCRIB$
  9 SUBSEC;N #GJ7#B7 (! ,ACT4 ,ACLY1 EV5
  ?\< ? 9COME 0 N RCVD 9 CA% 0! TAXPAY]1
  X IS REQUIR$ 6BE 9CLUD$ 9 9COME 9 !
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  6FILE A SEP>ATE RETURN Z PROVID$ 9
  SUBSEC;N #GJ7#B7 OR ! C\PONS >E
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  ! "T SPECIFI$ 9 SUBSEC;N #GJ7#C74 ,!
  APPLICA# TR1T;T 9 S* SITU,NS IS
  DESCRIB$ 9 ,,IT-#BAB;,R4


                                     #AB
         ,9T]E/ ,4T+UI%$ F ,O!R      B#E
               ,RECEIPTS
    
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  BE>+ OBLIG,N T IS 9 >RE>S >E PRESUM$
  6REPRES5T 9T]E/ UNTIL ALL 9T]E/ DUE "U
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#AB4 ,9T]E/1 :ILE N DEF9$ 9 ! ,ACT1 HAS
  BE5 DESCRIB$ 9 G5]AL T]MS 9 ! ,C\RTS Z
  8! RETURN OR 3SID],N OR -P5S,N =! USE
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  TO1 ANO!R04 ,F ? DESCRIP;N1 X FOLL[S T
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  ":1 AF #AIHC1 AN AW>D = DAMAGES IS
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              ,,IT-#CIF;,R           C#E
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  ,SIMIL>LY1 ": AN 5=CEA# AGREE;T =!
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  NEGOTIAT$ PRICE IS N PD UNTIL A
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  V5DOR =! P]IOD F
--------------------------------------#F
  ! DATE (! AGREE;T 6! DATE ( PAY;T IS
  9T]E/ 9COME 9 ! V5DOR'S H&S4 ,=
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              ,,IT-#CIF;,R           A#F
  #AIHB & 9T]E/ ( 4#AB1JJJ 7CALCULAT$ Z
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  A4I;N 6! 4#AJJ1JJJ1 IS PD 0! PUR*AS]
  6-P5SATE ! V5DOR =! DELAY4 ,! 4#AB1JJJ
  IS 9T]E/ 9COME 6! V5DOR4 ,! =EGO+
  REM>KS MAY APPLY ) RESPECT 69T]E/ ON
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  6PAY ! 4#AJJ1JJJ AT ALL4 ,ACLY1 !
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  64#AAB1JJJ1 &! 4#AB1JJJ IS N 9T]E/ =
  TAX PURPOSES4 ,SIMIL>LY1 2C NO
  PR9CIPAL SUM IS PAYA# & NO "R      #AE
              ,,IT-#CIF;,R           B#F
  6-P5S,N EXI/S AT ANY "T PRIOR 6XS
  APPROVAL = PAY;T1 NO "P ( ANY AW>D OR
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  CRIME -P5S,N BO>D OR ! ,W> ,CLAIMS
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  /ATUTE4 ,9T]E/ ALL[$ ON OV]PAY;T   #AF
              ,,IT-#CIF;,R           C#F
  ( TAX ASSESS$ "U ! ,9COME ,TAX ,ACT IS
  "O EXAMPLE ( ? LATT] SITU,N4

     ,CORPOR,NS1 ,"PN]%IPS & ,TRU/S
    
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  TAX,N YE>1 9T]E/ ON A DEBT OBLIG,N T
  A3RU$ 6X 6! 5D (! YE> OR 2CAME
  RECEIVA# OR 0 RCVD 0X 2F ! 5D (! YE>1
  6! EXT5T
--------------------------------------#G
  T S* 9T]E/ 0 N 9CLUD$ 9 XS 9COME =A
  PREC$+ YE>4 ,SPECIFIC,Y EXCLUD$ F S*
  9T]E/ IS 9T]E/ 9 RESPECT ( AN 9COME
  BOND1 AN 9COME DEB5TURE1 A SMALL
  BUSI;S DEVELOP;T BOND OR A SMALL
  BUSI;S BOND4 ,= TAX,N YE>S -M5C+ AF
  ,OCTOB] #BH1 #AIHJ & 2F #AIHC1
  SUBSEC;N #AB7#C7 REQUIR$ ALL
  CORPOR,NS1 "PN]%IPS1 UNIT TRU/S    #AG
              ,,IT-#CIF;,R           A#G
  & ANY TRU/ ( : A CORPOR,N OR A "PN]%IP
  0 A B5EFICI>Y1 69CLUDE 9 9COME1 9T]E/
  F ALL S\RCES T A3RU$ OR 2CAME RECEIVA#
  OR 0 RCVD 9 A TAX,N YE> 6! EXT5T T S*
  9T]E/ _H N BE5 S 9CLUD$ 9 ANY PREVI\S
  YE>4 ,H["E1 = TAX,N YE>S -M5C+ AF
  ,OCTOB] #BH1 #AIHJ & 2F #AIHC1 !
  A3RUAL RULES ( SUBSEC;N #AB7#C7 W]E1
  0VIRTUE ( SUBSEC;N #AB7#E7 Z X APPLI$
  = ^? TAX,N YE>S1 9APPLICA# 9 RESPECT (
  9T]E/ ON ANY OBLIG,N ACQUIR$ 2F
  ,OCTOB] #BI1 #AIHJ 0A CORPOR,N1
  "PN]%IP OR TRU/1 N DESCRIB$ 9 #AF7A7
  TO 7E7 2L1 UN.S ! OBLIG,N 0 ISSU$ 0A
  P]SON ) :OM ! CORPOR,N1 TRU/ OR ANY
  MEMB] (! "PN]%IP 0 N D1L+ AT >M'S
  L5G?4 ,= TAX,N YE>S -M5C+ 2F ,OCTOB]
  #BI1 #AIHJ SUBSEC;N #AB7#C7 APPLI$1 )
  C]TA9 EXCEP;NS1 6REQUIRE ! A3RUAL (
  9T]E/ 0TAXPAY]S CLASSIFI$ G5],Y Z
  F9ANCIAL CORPOR,NS4
#AF4 ,A TAXPAY] T IS A CORPOR,N1 "PN]%IP
  OR TRU/1 O!R ?AN A TAXPAY] DESCRIB$ 9
  7A7 TO 7E7 2L1 MAY 0VIRTUE (       #AH
              ,,IT-#CIF;,R           B#G
  SUBSEC;N #AB7#E71 DEF] US+ ! A3RUAL
  ME?OD1 : O!RWISE WD 2 REQUIR$
  0SUBSEC;N #AB7#C71 6REPORT 9T]E/ 9COME
  F A DEBT OBLIG,N LA/ ACQUIR$ 2F
  ,OCTOB] #BI1 #AIHJ1
  7;I7 =A LIMIT$ P]IOD1 -PRIS$ (! TAX,N
    YE>S -M5C+ AF #AIHB & 5D+ 2F
    ,DECEMB] #CA1 #AIHD1 ) RESPECT 6!
    9T]E/ A3RU+ ON ! OBLIG,N AF ! 2G9N+
    (! TAXPAY]'S F/ TAX,N YE> -M5C+ AF
    ,NOVEMB] #AB1 #AIHA1 &
  7;II7 9DEF9ITELY1 ) RESPECT ONLY 6!
    9T]E/ A3RU$ ON ! OBLIG,N 2F ! 2G9N+
    (! TAXPAY]'S F/ TAX,N YE> -M5C+ AF
    ,NOVEMB] #AB1 #AIHA1
  PROVID$ T ! OBLIG,N 0 ISSU$ 0A P]SON )
  :OM ! CORPOR,N1 TRU/1 OR EA* MEMB] (!
  "PN]%IP1 Z ! CASE MI<T BE1 0 D1L+ AT
  >M'S L5G?4 ,H["E1 X %D 2 NOT$ T A
  TAXPAY]1 :5 N SUBJECT 6! PROVI.NS (
  SUBSEC;N #AB7#C7 9 RESPECT (A DEBT
  OBLIG,N1 0VIRTUE ( SUBSEC;N #AB7#E71
  REMA9S SUBJECT 6! PROVI.NS ( P>AGRAPH
  #AB7#A77C7 9 RESPECT "!( & 6!      #AI
              ,,IT-#CIF;,R           C#G
  ,DE"P;T'S POSI;NS RELAT+ 6T P>AGRAPH Z
  SET \ 9 #G ABV4 ,SUBSEC;N #AB7#E7 DOES
  N1 "U ANY CIRCUM/.ES1 OP]ATE 6DEF] !
  APPLIC,N ( SUBSEC;N #AB7#C7 ": ! HOLD]
  (A DEBT OBLIG,N IS
  7A7 A BANK 6: ! ,BANK ,ACT OR !
    ,QUEBEC ,SAV+S ,BANKS ,ACT APPLIES1
--------------------------------------#H
  7B7 A CORPOR,N LIC5S$ OR O!RWISE
    AU?ORIZ$ "U ! LAWS ( ,CANADA OR A
    PROV9CE 6C>RY ON 9 ,CANADA ! BUSI;S
    ( (F]+ 6! PUBLIC XS S]VICES Z A
    TRU/EE1
  7C7 A CR$IT UNION )9 ! M1N+ ASSIGN$
    0SUBSEC;N #ACG7#F71
  7D7 A LIFE 9SUR.E CORPOR,N1 OR
  7E7 ANY O!R CORPOR,N 7O!R ?AN A MUTUAL
    FUND CORPOR,N OR A MORTGAGE 9VE/;T
    CORPOR,N7 ^: PR9CIPAL BUSI;S IS !
    MAK+ ( LOANS OR T BORR[S M"OY F !
    PUBLIC 9 ! C\RSE ( C>RY+ ON A BUSI;S
    ! PR9CIPAL PURPOSE ( : IS ! MAK+ (
    LOANS4
                                     #BJ
              ,,IT-#CIF;,R           A#H
#AG4 ,APPLICA# 6TAX,N YE>S -M5C+ AF
  #AIHB1 SUBSEC;N #AB7#F7 EXEMPTS A
  TAXPAY]1 O!R ?AN A TAXPAY] DESCRIB$ 9
  #AF7A7 TO 7E7 ABV1 F ! A3RUAL RULES (
  SUBSEC;N #AB7#C7 9 RESPECT ( ANY DEBT
  OBLIG,N T 0 LA/ ACQUIR$ 2F ,OCTOB]
  #BI1 #AIHJ1 PROVID$ T
  7A7 ! TAXPAY] CD N1 AF ,OCTOB] #BH1
    #AIHJ & 2F ! 5D (! TAX,N YE>1
    REQUIRE ! REPAY;T1 ACQUISI;N1
    C.ELL,N OR 3V].N (! OBLIG,N O!R ?AN
    0R1SON (A FAILURE OR DEFAULT "U !
    T]MS OR 3DI;NS "!( 7I4E4 ! TAXPAY]
    IS LOCK$ IN71
  7B7 ! MATUR;Y DATE (! OBLIG,N HAS N
    BE5 EXT5D$ AF ,OCTOB] #BH1 #AIHJ &
    2F ! 5D (! TAX,N YE>1 &! T]MS OR
    3DI;NS RELAT+ 6PAY;TS ) RESPECT
    69T]E/ H N BE5 *ANG$ DUR+ T P]IOD1 &
  7C7 ! OBLIG,N 0 ISSU$ 0A P]SON ) :OM !
    TAXPAY] OR1 ": ! TAXPAY] IS A
    "PN]%IP1 EA* MEMB] "!(1 0 D1L+ AT
    >M'S L5G?4
                                     #BA
              ,,IT-#CIF;,R           B#H
  ,H["E1 A TAXPAY]1 :5 N SUBJECT 6!
  PROVI.NS ( SUBSEC;N #AB7#C7 9 RESPECT
  (A DEBT OBLIG,N1 0VIRTUE ( SUBSEC;N
  #AB7#F71 REMA9S SUBJECT 6! PROVI.NS (
  P>AGRAPH #AB7#A77C7 9 RESPECT "!( & 6!
  ,DE"P;T'S POSI;NS RELAT+ 6T P>AGRAPH Z
  SET \ 9 #G ABV4

             ,O!R ,TAXPAY]S
    
#AH4 ,APPLICA# 6TAX,N YE>S -M5C+ AF
  #AIHB1 B SUBJECT 6! EXEMP;N EXPLA9$ 9
  #BB 2L1 A TAXPAY]1 O!R ?AN A CORPOR,N1
  "PN]%IP1 UNIT TRU/ OR ANY TRU/ ( : A
  CORPOR,N OR "PN]%IP IS A B5EFICI>Y1 :O
  HOLDS AN 9T]E/ 9 AN 9VE/;T 3TRACT 7SEE
  #AI 2L7 ON ANY ?IRD ANNIV]S>Y "!( 7SEE
  #BJ 2L7 & HAS N MADE AN ELEC;N "U
  SUBSEC;N #AB7#H7 7SEE #BA 2L7 IS1
  0VIRTUE ( SUBSEC;N #AB7#D71 REQUIR$
  6REPORT 9T]E/ 9COME 9 RESPECT "!( ON !
  A3RUAL BASIS ON ANY ?IRD ANNIV]S>Y (!
  3TRACT 6! EXT5T T S* 9T]E/ A3RU$ AF
  ,DECEMB] #CA1 #AIHA & 0 N          #BB
              ,,IT-#CIF;,R           C#H
  O!RWISE 9CLUD$ 9 -PUT+ 9COME =! TAX,N
  YE> OR ANY PREC$+ TAX,N YE>4 ,9 A4I;N1
  ": 9T]E/ 9 RESPECT ( AN 9VE/;T 3TRACT
  IS ACTU,Y RCVD 0A TAXPAY] 9 A "PICUL>
  TAX,N YE>1 X M/1 0VIRTUE ( P>AGRAPH
--------------------------------------#I
  #AB7#A77C71 2 9CLUD$ 9 -PUT+ 9COME = T
  YE> 6! EXT5T T X 0 N O!RWISE 9CLUD$ 9
  9COME =! YE> OR A PREVI\S YE>4 ,0R1SON
  (! FACT T ! ISSU] (A DEBT OBLIG,N T IS
  3SID]$ 6BE AN 9VE/;T 3TRACT W ISSUE A
  ,T#E 9=M,N SLIP 6! HOLD] (! OBLIG,N Z
  ( E ?IRD ANNIV]S>Y "!( 7UN.S ! HOLD]
  HAS PREVI\SLY ELECT$ "U SUBSEC;N
  #AB7#H7 9 RESPECT (! DEBT OBLIG,N7
  69DICATE ! AM.T ( 9T]E/ A3RU$ "!ON AT
  T "T1 TAXPAY]S :O H 9CLUD$ 9T]E/ 9
  RESPECT (! OBLIG,N 9 9COME = 9T]V5+
  YE>S %D 5SURE T 9T]E/ IS N 9CLUD$ 9
  9COME M ?AN ONCE4
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  ABV1 IS DEF9$ 9 P>AGRAPH #AB7#AA77A7
  6M1N ANY DEBT OBLIG,N 7O!R ?AN A
  PRESCRIB$ 3TRACT1 AN 9COME BOND1   #BC
              ,,IT-#CIF;,R           A#I
  AN 9COME DEB5TURE1 A SMALL BUSI;S
  DEVELOP;T BOND1 A SMALL BUSI;S BOND OR
  AN OBLIG,N 9 RESPECT ( : ! TAXPAY]
  HAS1 AT P]IODIC 9T]VALS ( LESS ?AN
  ?REE YE>S1 9CLUD$ 9 -PUT+ 9COME "?\T !
  P]IOD 9 : ! TAXPAY] HELD AN 9T]E/ 9 !
  OBLIG,N1 ! 9COME A3RU$ "!ON = S*
  9T]VALS74 ,! LATT] EXCLU.N W 9CLUDE
  ANY DEBT OBLIG,N 9 RESPECT ( : A
  TAXPAY] HAS MADE AN ELEC;N PURSUANT
  6SUBSEC;N #AB7#H7 9 ANY TAX,N YE>
  -M5C+ AF #AIHB OR IS RCVG 9T]E/ ON A
  REGUL> BASIS AT 9T]VALS ( LESS ?AN
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  9CLUDE A TAX-EXEMPT REGI/]$ RETIRE;T
  SAV+S PLAN4 ,ANY DEBT OBLIG,N1 9CLUD+
  A PRESCRIB$ DEBT OBLIG,N1 W 2 AN
  9VE/;T 3TRACT UN.S X IS SPECIFIC,Y
  EXCLUD$ 0! DEF9I;N "!(1 B A TAXPAY]
  MAY1 0VIRTUE ( SUBSEC;N #AB7#AJ7 7SEE
  #BB 2L71 2 EXEMPT F ! PROVI.NS (
  SUBSEC;N #AB7#D7 ) RESPECT 69T]E/ ON A
  "PICUL> 9VE/;T 3TRACT4 ,)\T RE/RICT+ !
  G5]AL;Y (! DEF9I;N ( AN 9VE/;T     #BD
              ,,IT-#CIF;,R           B#I
  3TRACT1 ! T]M 8DEBT OBLIG,N0 IS 3SID]$
  69CLUDE1 = EXAMPLE1 BANK A3.TS1 T]M
  DEPOSITS1 GU>ANTE$ 9VE/;T C]TIFICATES1
  ,CANADA ,SAV+S ,BONDS1 MORTGAGES1
  CORPORATE BONDS & LOANS4
#BJ4 ,APPLICA# 6TAX,N YE>S -M5C+ AF
  #AIHA1 ! ?IRD ANNIV]S>Y ( AN 9VE/;T
  3TRACT1 Z REF]R$ 6IN #AH ABV1 IS DEF9$
  9 P>AGRAPH #AB7#AA77B7 6M1N
  7A7 ! #CA/ "D ( ,DECEMB] T IS ?REE
    YE>S AF ! 5D (! CAL5D> YE> DUR+ : !
    3TRACT 0 ISSU$1 &
  7B7 ! #CA/ "D ( ,DECEMB] ( E SU3ESSIVE
    ?IRD YE> FOLL[+ ! DATE DET]M9$ 9
    7A71
  EXCEPT T ": A TAXPAY] LA/ ACQUIR$ AN
  9VE/;T 3TRACT 2F #AIHB & HAS N 4POS$ (
  X 2F #AIHE1 X W 2 DEEM$ 6H BE5 ISSU$
  ON ,DECEMB] #CA1 #AIHD =! PURPOSE (
  E/ABLI%+ ANNIV]S>Y DATES4 ,3SEQU5TLY1
  AN 9VE/;T 3TRACT T 0 LA/ ACQUIR$ 0A
  TAXPAY] 2F #AIHB IS EXEMPT F ! A3RUAL
  RULES 9 SUBSEC;N #AB7#D7 AT L1/ UNTIL
  #AIHG4                             #BE
              ,,IT-#CIF;,R           #AJ
#BA4 ,= TAX,N YE>S -M5C+ AF #AIHB1 A
  TAXPAY] :O DESIRES 6USE ! A3RUAL ME?OD
  6REPORT1 ANNU,Y1 9T]E/ 9COME 9 RESPECT
  (A DEBT OBLIG,N1 M/ ELECT 6D S 9
  A3ORD.E ) SUBSEC;N #AB7#H74 ,H["E1 SEE
  #G ABV = EXCEP;NS ) RESPECT 6OBLIG,NS
  ACQUIR$ PRIOR 6#AIHC4 ,? ELEC;N M/
  "!=E 2 MADE 0A TAXPAY] :O PROPOSES
  6USE ! ANNUAL A3RUAL ME?OD 9 RESPECT
  (A DEBT OBLIG,N =! F/ "T4 ,! ELEC;N 9
  RESPECT ( ANY DEBT OBLIG,N1 O!R ?AN EI
  A DEBT OBLIG,N 9 BE>] =M OR A ,CANADA
  ,SAV+S ,BOND1 IS 6BE MADE 0NOTIFY+ !
  ISSU] (! OBLIG,N1 9 WRIT+1 (!
  TAXPAY]'S 9T5;N 6REPORT 9T]E/ 9COME ON
  ! ANNUAL A3RUAL BASIS4 ,^U RECEIPT ( ?
  NOTIFIC,N1 ! ISSU] (! "PICUL> DEBT
  OBLIG,N W REPORT ANNU,Y1 ON ,T#E 9=M,N
  SLIPS1 ! 9T]E/ A3RU$ "!ON 6! 5D ( EA*
  CAL5D> YE> -M5C+ )! YE> DESIGNAT$ 9 !
  TAXPAY]'S ELEC;N1 6! EXT5T T 9T]E/ 9
  RESPECT ( T OBLIG,N 0 N PREVI\SLY S
  REPORT$4 ,AN ELEC;N 9 RESPECT (A DEBT
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              ,,IT-#CIF;,R          A#AJ
  ,SAV+S ,BOND %D 2 FIL$ )! TAXPAY]'S
  TAX RETURN =! YE> ) RESPECT 6: ! USE
  (! ANNUAL A3RUAL ME?OD IS F/ ELECT$4
  ,ISSU]S ( DEBT OBLIG,NS 9 BE>] =M &
  ,CANADA ,SAV+S ,BONDS >E N REQUIR$
  6REPORT 9T]E/ ON ! A3RUAL BASIS ON =M
  ,T#E 0VIRTUE ( SUBSEC;N #BJA7#D7 (!
  ,9COME ,TAX ,REGUL,NS4 ,HAV+ MADE AN
  ELEC;N "U SUBSEC;N #AB7#H71 ! TAXPAY]
  IS OBLIGAT$ 9 -PUT+ 9COME =! YE> = : !
  ELEC;N 0 MADE &= EA* SUBSEQU5T YE>
  DUR+ : AN 9T]E/ 9 ! DEBT OBLIG,N IS
  HELD1 69CLUDE ! 9T]E/ A3RU$ ON T DEBT
  OBLIG,N 6! 5D (! YE> 6! EXT5T T !
  9T]E/ 0 N O!RWISE 9CLUD$ 9 9COME =!
  YE> OR ANY PREC$+ YE>4 ,AN ELEC;N MADE
  PURSUANT 6SUBSEC;N #AB7#H7 9 RESPECT
  (A "PICUL> DEBT OBLIG,N APPLIES ONLY )
  RESPECT 69T]E/ ON T OBLIG,N & DOES N
  REQUIRE ANNUAL RENEWAL4 ,! ELEC;N "U
  SUBSEC;N #AB7#H7 MAY 2 USE;L
  69DIVIDUALS 65A# !M 6MAKE ANNUAL USE

                                     #BG
              ,,IT-#CIF;,R          B#AJ
  (! 9T]E/1 DIVID5D 9COME & CAPITAL GA9S
  DEDUC;N : IS 4CUSS$ 9 ,,IT-#CCC;,R#B4
#BB4 ,= TAX,N YE>S -M5C+ AF #AIHB1
  SUBSEC;N #AB7#AJ7 EXEMPTS A TAXPAY] F
  ! RULES IMPOS$ 0SUBSEC;N #AB7#D7 )
  RESPECT 6AN 9T]E/ 9 AN 9VE/;T 3TRACT1
  9CLUD+ A PRESCRIB$ DEBT OBLIG,N1 LA/
  ACQUIR$ 2F ,NOVEMB] #AC1 #AIHA PROVID$
  T
  7A7 ! TAXPAY] CD N1 AF ,NOVEMB] #AB1
    #AIHA & 2F ! 5D (! TAX,N YE>1
    REQUIRE ! REPAY;T1 ACQUISI;N1
    C.ELL,N OR 3V].N ( T 9T]E/ 7O!R ?AN
    0R1SON (A FAILURE OR DEFAULT "U !
    T]MS OR 3DI;NS (! 3TRACT1 I4E4 !
    TAXPAY] IS LOCK$ IN71 &
  7B7 ! MATUR;Y DATE (! 3TRACT HAS N1 AF
    ,NOVEMB] #AB1 #AIHA & 2F ! 5D (!
    TAX,N YE>1 BE5 EXT5D$ &! T]MS OR
    3DI;NS RELAT+ 6PAY;TS 9 RESPECT ( T
    9T]E/ H N BE5 *ANG$ DUR+ T P]IOD4
-------------------------------------#AA
  ,9 3TRA/ )! ?IRD ANNIV]S>Y RULE 7SEE
  #BJ ABV71 : HAS ! E6ECT (          #BH
              ,,IT-#CIF;,R          A#AA
  EXEMPT+ TAXPAY]S F ! A3RUAL RULES
  UNTIL #AIHG 9 RESPECT ( PRE-#AIHB DEBT
  OBLIG,NS1 SUBSEC;N #AB7#AJ7 EXEMPTS
  TAXPAY]S F ^? RULES =! 5TIRE T]M (A
  DEBT OBLIG,N4

       ,PRESCRIB$ ,DEBT ,OBLIG,N
    
#BC4 ,A PRESCRIB$ DEBT OBLIG,N IS ANY
  DEBT OBLIG,N ! T]MS ( : 9CLUDE "O OR M
  (! 3DI;NS OR : POSSESSES "O OR M (!
  "*I/ICS1 DESCRIB$ 9 SUBSEC;N #GJJJ7#A7
  (! ,9COME ,TAX ,REGUL,NS4 ,": A
  TAXPAY] HAS AN 9T]E/ 9 A PRESCRIB$
  DEBT OBLIG,N1 ANY BONUS OR PREMIUM
  PAYA# "!"U %1 0VIRTUE ( SUBSEC;N
  #GJJJ7#C7 "!(1 2 3SID]$ 6BE AN AM.T (
  9T]E/ PAYA# "U ! OBLIG,N & AN AM.T (
  9T]E/ W1 0VIRTUE (& Z CALCULAT$
  0SUBSEC;N #GJJJ7#B7 (! SD ,REGUL,NS1 2
  DEEM$ 6A3RUE 6! TAXPAY] = EA* TAX,N
  YE> -M5C+ AF #AIHA DUR+ : ! 9T]E/ 9 !
  OBLIG,N 0 HELD4 ,9T]E/ 9COME DEEM$
  6A3RUE 9 A3ORD.E ) SEC;N #GJJJ     #BI
              ,,IT-#CIF;,R          B#AA
  (! ,9COME ,TAX ,REGUL,NS IS REQUIR$
  6BE REPORT$ = TAX PURPOSES 9 A3ORD.E )
  SUBSEC;NS #AB7#C71 7#D71 7#H71 7#AA71
  & #BJ7#BA71 Z ! CASE MAY BE1 7SEE #AE1
  #AH1 #BA1 #BJ & #BD RESPECTIVELY1 "H97
  & SUBSEC;N #BJ7#AD7 : IS D1LT ) 9
  ,,IT-#DAJ4 ,= EXAMPLE1 9 #AIHC A
  TAXPAY] ACQUIRES A GU>ANTE$ 9VE/;T
  C]TIFICATE : MATURES 9 #AIHH & BE>S
  9T]E/ AT #AB P] C5T P] ANNUM1 PAYA# AT
  MATUR;Y4 ,H["E1 IF ! TAXPAY] *OOSES
  6REDEEM ! C]TIFICATE AT ANY "T PRIOR
  6MATUR;Y ! 9T]E/ RATE IS REDUC$ 6#G P]
  C5T P] ANNUM4 ,S* A GU>ANTE$ 9VE/;T
  C]TIFICATE W 2 A PRESCRIB$ DEBT
  OBLIG,N )9 ! M1N+ ( P>AGRAPH #GJJJ
  7#A77C7 (! ,9COME ,TAX ,REGUL,NS 2C !
  MAXIMUM AM.T ( 9T]E/ T IS PAYA# 9 ANY
  YE> 2F MATUR;Y IS LESS ?AN ! MAXIMUM
  AM.T ( 9T]E/ PAYA# 9 ! YE> (1 & ^U1
  MATUR;Y4 ,3SEQU5TLY1 REG>D.S ( :5 A
  TAXPAY] HAS ACQUIR$ S* A C]TIFICATE1
  9T]E/ 9COME W 2 DEEM$ 6A3RUE "!ON AT
  #AB P] C5T = EA* TAX,N YE> DUR+    #CJ
              ,,IT-#CIF;,R          C#AA
  : ! TAXPAY] HELD X4 ,IF A TAXPAY]
  4POSES ( S* A C]TIFICATE PRIOR
  6MATUR;Y1 OV]-A3RU$ 9T]E/ MAY1 9 !
  CIRCUM/.ES DESCRIB$ 9 #BD 2L1 2
  DEDUCT$ F ! TAXPAY]'S 9COME =! YE> (
  4POSI;N4

     ,DEDUC;N = ,OV]-,A3RU$ ,9T]E/
    
#BD4 ,APPLICA# 6TAX,N YE>S -M5C+ AF
  #AIHB1 ": A TAXPAY] HAS A3RU$ &
  REPORT$ 9T]E/ 9COME ON A DEBT OBLIG,N
  & HAS AT ANY "PICUL> "T 4POS$ (!
  OBLIG,N = 3SID],N EQUAL 6XS FAIR M>KET
  VALUE AT ! "T ( 4POSI;N1 ! TAXPAY]
  MAY1 0VIRTUE ( SUBSEC;N #BJ7#BA71
  DEDUCT 9 -PUT+ 9COME =! YE> ( 4POSI;N1
  ! AM.T1 IF ANY1 0: ! A7REGATE (! AM.TS
  ( 9T]E/ F T DEBT OBLIG,N T 0 9CLUD$ 9
  ! TAXPAY]'S 9COME =! YE> ( 4POSI;N &
  ALL PREVI\S YE>S EXCE$S ! TOTAL 9T]E/
  ACTU,Y RCVD "!ON4 ,":1 H["E1

                                     #CA
              ,,IT-#CIF;,R           #AB
  ! TAXPAY] HAS DEDUCT$ AN AM.T "U
  P>AGRAPH #BJ7#AD77B71 9 RESPECT (!
  OBLIG,N1 ! DEDUC;N "U SUBSEC;N
  #BJ7#BA7 IS REDUC$ 0? AM.T4

         ,CANADA ,SAV+S ,BONDS
    
#BE4 ,Z DEBT OBLIG,NS (! ,GOV]N;T (
  ,CANADA1 ,CANADA ,SAV+S ,BONDS W1 IF !
  NEC 3DI;NS PREVAIL1 2 9VE/;T 3TRACTS
  7SEE #AI ABV7 =! PURPOSES ( SUBSEC;N
  #AB7#D74 ,= EXAMPLE1 ": A TAXPAY]
  ACQUIR$ A ,-P.D ,9T]E/ ,CANADA ,SAV+S
  ,BOND PRIOR 6#AIHB1 9CLUD$ NO 9T]E/ 9
  RESPECT "!( 9 9COME & IS / HOLD+ !
  BOND ON ,JANU>Y #A1 #AIHE1 X W 2 AN
  9VE/;T 3TRACT &= PURPOSES ( DET]M9+ XS
  9ITIAL ?IRD ANNIV]S>Y1 X W1 0VIRTUE (
  P>AGRAPH #AB7#AA77B71 2 DEEM$ 6H BE5
  ISSU$ ON ,DECEMB] #CA1 #AIHD4 ,ACLY1 !
  PROVI.NS ( SUBSEC;N #AB7#D7 W APPLY ON
  ,DECEMB] #CA1 #AIHG1 ! DATE (! BOND'S
  9ITIAL ?IRD ANNIV]S>Y1 & W REQUIRE !
  9T]E/ T HAS A3RU$ =! P]IOD -M5C+   #CB
              ,,IT-#CIF;,R          A#AB
  ,JANU>Y #A1 #AIHB & 5D+ ,DECEMB] #CA1
  #AIHG1 6BE 9CLUD$ 9 ! BONDHOLD]'S
  9COME = #AIHG 6! EXT5T T X 0 N O!RWISE
  S 9CLUD$ =! YE> OR ANY PREC$+ YE>4 ,":
  9T]E/ 9 RESPECT ( ANY ,CANADA ,SAV+S
  ,BOND IS 6BE REPORT$ ON ! A3RUAL
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