Re: Norrep Short Duration 2014 Flow-Through LP - Final Tax ...

June 23, 2015

Re: Norrep Short Duration 2014 Flow-Through LP - Final Tax Reporting Package

Dear Limited Partner,

Please find enclosed your final tax reporting package for your investment in the Norrep Short Duration 2014

Flow-Through Limited Partnership (“Partnership”). The following documents are included:

1. 2015 T5013 slips – Statement of Partnership Income 2. Schedule of Amortization of Issue Costs 3. Schedule of Adjusted Cost Base (ACB)

Please retain the Schedule of Amortization of Issue Costs for use in preparing your tax returns in future

years.

On March 26, 2015, the Partnership transferred all of its assets on a tax-deferred basis to Norrep Opportunities

Corp. in exchange for shares of the Norrep Energy Class mutual fund. Limited Partners received approximately

0.3579 Norrep Energy Class share for each Partnership Unit. The adjusted cost base of the Norrep Energy

Class shares distributed to investors is $6.15 per share.

Please refer to the attached 2015 T5013 slips when completing your 2015 income tax return.

In addition, the previously provided 2014 T5013 slips contains certain balances (Canadian Exploration

Expenses, “CEE”, and Canadian Development Expenses, “CDE”) that can be deductible in 2014 and

subsequent years. Any CEE and CDE balances not deducted in 2014 should be carried forward to the 2015

taxation year and claimed in your annual income tax returns until fully deducted.

Norrep Energy Class invests primarily in the shares of Canadian small, mid, and large capitalization energy

companies. For more information on the Norrep Energy Class, please refer to our website at www.norrep.com

or call us toll free at (877) 431-1407.

We would like to thank you for investing in the Norrep Group of Funds. If you have a tax-related question,

please contact Jenny Sun, CGA by email at [email protected] or by phone at (403) 537-5705 or (877)

431-1407 toll free.

Regards,

Steve Smith, CA

Chief Financial Officer & Portfolio Manager

http://www.norrep.com/

mailto:[email protected]

See recipient instructionsVoir les instructions du bénéficiaire

Fiscal period endExercice se terminant le

T5013

Filer's name and address – Nom et adresse du déclarant

Partner's name and address – Nom et adresse de l'associé

BoxCase Amount – MontantCode


Box – Case Other information – Autres renseignements

Other information – Autres renseignementsBox – Case

























YYYY MM DD

AAAA MM JJTax shelter identification number (see statement on reverse side *)Numéro d'inscription de l'abri fiscal (lisez l'énoncé au dos *)

Partner codeCode de l'associé

002

Filer's account number (15 characters)Numéro de compte du déclarant (15 caractères)

001

Partner's identification numberNuméro d'identification de l'associé

006

Partner's share (%) of partnershipPart de l'associé (%) dansla société de personnes

005

003

Country codeCode du pays

004

Total limited partner business income (loss)Revenu (perte) total(e) d'entreprise du commanditaire

010 020

Total business income (loss)Revenu (perte) total(e) d'entreprise

Total capital gains (losses)Total des gains (pertes) en capital

030 040

Capital cost allowanceDéduction pour amortissement



2For Recipient – Attach to your income tax return 2Bénéficiaire – Annexez à votre déclaration d'impôt sur le revenu

Approval Code/Code d'approbation :T5013 (14) Protected B when completed – Protégé B une fois rempli

Last name (print) – Nom de famille (en lettres moulées) First name – Prénom Initials – Initiales

Other information – Autres renseignementsBox – Case Code




Code

Code

Code

Code

Code

Code

personal information bank numbers CRA PPU 047and CRA PPU 005Privacy Act, fichiers de renseignementsLoi sur la protection des renseignements personnels,

personnels ARC PPU 047 et ARC PPU 005

Statement of Partnership IncomeÉtat des revenus d'une société de personnes

Recipient typeGenre de bénéficiaire

DEDUCTIBLE ISSUE COST FOR 2016, 2017, 2018, AND 2019 WILL BE $0.13070/UNIT EACH YEAR

0

0.025131

ONE THOUSAND UNITS, SAMPLE SLIP ONLY

-38 13

2,955 17

-38 13 2,723 41

2,723 41 2 50

104 105

106 128

9 53 13 15

1 98 134 72

2,955 17

210

151

132 133

134

2015-03-26

Calgary AB T2P 1T11100 606 - 4 Street SWNorrep Short Duration 2014 Flow-Through LP

1

825585771RZ0001

RC-14-414

TS081760

See recipient instructionsVoir les instructions du bénéficiaire

Fiscal period endExercice se terminant le

T5013

Filer's name and address – Nom et adresse du déclarant

Partner's name and address – Nom et adresse de l'associé





























YYYY MM DD

AAAA MM JJTax shelter identification number (see statement on reverse side *)Numéro d'inscription de l'abri fiscal (lisez l'énoncé au dos *)

Partner codeCode de l'associé

002

Filer's account number (15 characters)Numéro de compte du déclarant (15 caractères)

001

Partner's identification numberNuméro d'identification de l'associé

006

Partner's share (%) of partnershipPart de l'associé (%) dansla société de personnes

005

003

Country codeCode du pays

004

Total limited partner business income (loss)Revenu (perte) total(e) d'entreprise du commanditaire

010 020

Total business income (loss)Revenu (perte) total(e) d'entreprise

Total capital gains (losses)Total des gains (pertes) en capital

030 040

Capital cost allowanceDéduction pour amortissement



3For Recipient – Keep this slip for your records 3Bénéficiaire – Conservez pour vos dossiers

Approval Code/Code d'approbation :T5013 (14) Protected B when completed – Protégé B une fois rempli

Last name (print) – Nom de famille (en lettres moulées) First name – Prénom Initials – Initiales

personal information bank numbers CRA PPU 047and CRA PPU 005Privacy Act, fichiers de renseignementsLoi sur la protection des renseignements personnels,

personnels ARC PPU 047 et ARC PPU 005





Code

Code

Code

Code

Code

Code

Statement of Partnership IncomeÉtat des revenus d'une société de personnes

Recipient typeGenre de bénéficiaire

DEDUCTIBLE ISSUE COST FOR 2016, 2017, 2018, AND 2019 WILL BE $0.13070/UNIT EACH YEAR

0

0.025131

ONE THOUSAND UNITS, SAMPLE SLIP ONLY

-38 13

2,955 17

-38 13 2,723 41

2,723 41 2 50

104 105

106 128

9 53 13 15

1 98 134 72

2,955 17

210

151

132 133

134

2015-03-26

Calgary AB T2P 1T11100 606 - 4 Street SWNorrep Short Duration 2014 Flow-Through LP

1

825585771RZ0001

RC-14-414

TS081760

Statement of Partnership Income –Instructions for Recipient

T5013-Inst

Partners that are corporations or trustsReport the information on a T2 Corporation Income Tax Return or a T3 Trust Income Tax and Information Return, whichever applies.

Partners that are partnershipsA partnership that receives a T5013 slip, Statement of Partnership Income, has to report the information on its financial statements for the fiscal period.

Partners who are individualsReport the information on your T1 General Income Tax and Benefit Return, (T1 return). Keep one copy of this slip for your records and attach the other copy to your T1 return.You can get the T1 General Income Tax and Benefit Guide, (T1 guide), schedules, forms and other tax guides at www.cra.gc.ca/forms, or by calling 1-800-959-8281.

Identification Canadian and foreign net business income (loss)Boxes 001 to 006 and 010 to 040: We use this information. Tax Shelter – If the partnership is a tax shelter, you should only receive a

T5013 slip.Box 006: Under the Income Tax Act (the Act), you have to give your socialinsurance number (SIN) on request to any person who prepares aninformation slip for you. If you do not have a SIN, you can apply for one atany Service Canada Centre. For more information, visit the Service CanadaWeb site at www.servicecanada/SIN.gc.ca.

Limited partnership net income (loss)Tax Shelter – If the limited partnership is a tax shelter, you should onlyreceive a T5013 slip.

Limited partner's farming income (loss) (Multi-jurisdictional) –Include this amount on line 141 of your T1 return. You could have arestricted farm loss.

Agricultural income stabilization – Include this amount on theAgriStability and AgriInvest program information and statement offarming activities that applies to you.

Limited partner's fishing income (loss) (Multi-jurisdictional) –Include this amount on line 143 of your T1 return.

Limited partner's business income (loss) (Multi-jurisdictional) –Enter this amount on line 122 of your T1 return.

Limited partner's at-risk amount – We use this information. If there isno amount in this box, we assume the amount is zero and you cannotclaim any losses shown in boxes 101, 103, 104, 107, and 109.

Limited partner's adjusted at-risk amount – We use this information.

Limited partner's rental income (loss) – Enter this amount online 9946 of Form T776, Statement of Real Estate Rentals, and reportthe income on line 126 of your T1 return.

Limited partner's loss available for carry forward – This is the partof your current-year limited partnership loss that you cannot deduct onthe current year's T1 return. You can only deduct it from the samepartnership's income in future years if you have a positive at-riskamount after applying paragraph 111(1)(e) of the Act. You can carry itforward indefinitely.

Previous loss carry forward eligible in the current year – This isthe limited partnership loss from previous years that you can claim inthe current year. Claim it on line 251 of your T1 return.

Return of capital – This is the capital (including drawings) returned toyou from the limited partnership. Use this amount to reduce the ACB ofyour limited partnership interest.

Multiple jurisdictions – If the partnership allocated income from more thanone province or territory, the second box will show a two-letter province orterritory code. If the income is from a foreign country, the box will show athree-letter country code.

Other income – Enter this amount on line 130 of your T1 return.

Type of other income – Enter this description in the "Specify" area forline 130 of your T1 return.

Business income (loss) (Multi-jurisdictional) – Enter this amount online M on page 2 of Form T2125, Statement of Business orProfessional Activities, and report the income on line 135 of your T1return. The gross amount is in box 118.

Gross business income (Multi-jurisdictional) – Enter this amount online 162 of your T1 return.

Foreign business income that is exempt from Canadian tax due toa tax convention or agreement (Multi-jurisdictional) – This amountis included in box 116. Use this amount to calculate your foreign taxcredit for the country named. See line 405 in your T1 guide and formsT2209 and T2036.

Professional income (loss) (Multi-jurisdictional) – Enter thisamount on line M on page 2 of Form T2125, Statement of Business orProfessional Activities, and report the income on line 137 of your T1return. The gross amount is in box 121.

Gross professional income (Multi-jurisdictional) – Enter thisamount on line 164 of your T1 return.

Commission income (loss) (Multi-jurisdictional) – Enter thisamount on line M on page 2 of Form T2125, Statement of Business orProfessional Activities, and report the income on line 139 of your T1return. The gross amount is in box 123.

Gross commission income (Multi-jurisdictional) – Enter thisamount on line 166 of your T1 return.

Farming income (loss) (Multi-jurisdictional) – Enter this amount online d on page 2 of Form T2042, Statement of Farming Activities, or onthe appropriate AgriStability and AgriInvest form. You could have arestricted farm loss.

Gross farming income (Multi-jurisdictional) – Enter this amount online 168 of your T1 return.

Fishing income (loss) (Multi-jurisdictional) – Enter this amount online c on page 2 of Form T2121, Statement of Fishing Activities.

Gross fishing income (Multi-jurisdictional) – Enter this amount online 170 of your T1 return.

Total business income (loss) from an active business carried onin Canada – Report the information on a T2 Corporation Income TaxReturn.

Canadian manufacturing and processing profits undersubsection 125.1(3) – Report the information on a T2 CorporationIncome Tax Return.

T5013-INST E (14)

101

Total limited partner business income (loss)010

102

103

104

105

106

107

108

109

113

Total business income (loss)020

114

115

116

118

119

120

121

122

123

124

125

126

127

149

150

Box 205: Functional currency code – This is the functional currency codeapplicable to the T5013 slip.

Canadian and foreign investments and carrying chargesTax Shelter – If the partnership is a tax shelter, you should only receive aT5013 slip.

Canadian and foreign net rental income (loss)(Multi-jurisdictional) – Enter this amount on line e on page 1 of FormT776, Statement of Real Estate Rentals, and report the income on line126 of your T1 return.

Foreign net rental income (loss) (Multi-jurisdictional) – Theseamounts are included in box 110. Use these amounts to calculate yourforeign tax credit for the country named. See line 405 in your T1 guideand forms T2209 and T2036.

Other investment income – Report this amount in Area II (line 121) ofSchedule 4.

Type of investment income – You need this information to calculateadjusted taxable income for calculating the alternative minimum tax onForm T691, Alternative Minimum Tax.

Total capital gains (losses)

Foreign net rental income that is exempt from Canadian tax due toa tax convention or agreement (Multi-jurisdictional) – Theseamounts are included in box 110 or in box 107, whichever applies toyour partner code. Use these amounts to calculate your foreign taxcredit for the country named. See line 405 in your T1 guide and formsT2209 and T2036.

Interest from Canadian sources – Enter this amount on line 121 ofSchedule 4.

Actual amount of dividends (other than eligible dividends) –This is the actual amount of dividends (other than eligible dividends)paid by corporations resident in Canada. The taxable amount of thesedividends and the federal dividend tax credit appear in boxes 130 and131 respectively.

Taxable amount of dividends (other than eligible dividends) –This is the taxable amount of dividends (other than eligible dividends)for partners that are individuals resident in Canada (other than a trustthat is a registered charity), including partnerships and trusts that areeligible for the federal dividend tax credit. Enter this amount on line 180of Schedule 4.

Dividend tax credit for dividends other than eligible dividends –Include this amount on line 425 of Schedule 1.

Foreign dividend and interest income (Multi-jurisdictional) – Enterthis amount on line 121 of Schedule 4.

Foreign investment income that is exempt from Canadian taxdue to a tax convention or agreement (Multi-jurisdictional) – Thisamount is included in box 135. Use the amount to calculate yourforeign tax credit for the country named. See line 405 in your T1 guideand forms T2209 and T2036.

Business investment loss – This amount is your gross businessinvestment loss reported on line 228 of your T1 return. Use the amountto calculate your allowable business investment loss deduction forline 217, using "Chart 6 – How to claim an allowable businessinvestment loss " in your T4037, Capital Gains guide.Complete Step 4 in Chart 6 with the following information when youuse box 137 amount to calculate your allowable business investmentloss deduction.

Name of the Small Business Corporation

Number and class of shares, or type of debt owed by the SmallBusiness Corporation

Insolvency, bankruptcy, or wind-up date

Date the partnership bought the shares or acquired the debt

Proceeds of disposition (Multi-jurisdictional)

Adjusted cost base of the shares or debt (Multi-jurisdictional)

Outlays and expenses on the disposition (Multi-jurisdictional)

Dividend rental arrangement compensation payments – Enter thisamount on line 221 of Schedule 4.

Other amounts and informationTax Shelter – If the partnership is a tax shelter, you should only receive aT5013 slip.

Actual amount of eligible dividends – This is the actual amount ofeligible dividends paid by corporations resident in Canada. The taxableamount of eligible dividends and the federal dividend tax credit appearin boxes 133 and 134 respectively.

Taxable amount of eligible dividends – This is the taxable amount ofeligible dividends for partners that are individuals resident in Canada(other than a trust that is a registered charity), including partnershipsand trusts that are eligible for the federal dividend tax credit. Enter thisamount on line 120 of Schedule 4.

Dividend tax credit for eligible dividends – Include this amount online 425 of Schedule 1.

Total carrying charges (Multi-jurisdictional) – This amount is yourshare of the carrying charges for earning all investment income. Enterit on line 221 of Schedule 4.

Gross Canadian and foreign rental income – Enter this amount online 160 of your T1 return.

110

111

112

117

128

129

130

131

132

133

134

135

136

137

138

139

140

141

142

143

144

145

146

147

210

Footnotes for Box 210

Carrying charges on interest and dividend income.

Amounts in boxes 211 to 216 are includedin box 210.

211

212 Carrying charges on rental income.

Carrying charges on film property.213Carrying charges on resource property and flow-through shares.214Carrying charges for acquiring an interest in a partnership of which youare a limited or non-active partner, or which owns a rental or leasingproperty or a film property.

215

Carrying charges (Multi-jurisdictional) – other.

030

216

Footnotes for Box 151 Amounts in boxes 153 to 158 are included in box 151.

151 Capital gains (losses) (Multi-jurisdictional) – Enter this amount online 174 of Schedule 3.

152 Last fiscal period's capital gains reserve allocated in the previousyear and brought into income for the current year – Use thisinformation to complete Form T2017, Summary of Reserves onDispositions of Capital Property.

Qualified small business corporation shares (QSBCS) capitalgains amount eligible for the $800,000 capital gains exemption –Use this information to complete Form T657, Part 1, and Part 3a"Line 107 of Schedule 3," to calculate your capital gains deduction.

153

Qualified farm property (QFP) or qualified fishing property (QXP)capital gains amount eligible for the $800,000 capitalgains exemption – Use this information to complete Form T657,Part 1, and Part 3a "Line 110 of Schedule 3," to calculate your capitalgains deduction.

154

Capital gains (losses) from QFP or QXP mortgage foreclosuresand conditional sales repossessions eligible for the capital gainsdeduction – Use this information to complete Form T657, Part 1, andPart 3a "Line 124 of Schedule 3," to calculate your capital gainsdeduction.

155

Foreign capital gains (losses) (Multi-jurisdictional) – Use thisinformation to calculate the foreign tax credits on foreign business andnon-business income for the country identified by the three-letter codefor this box. See line 405 in your T1 guide and forms T2209 andT2036.

156

Foreign capital gains exempt from Canadian tax due to a taxconvention or agreement (Multi-jurisdictional) – Use thisinformation to calculate the foreign tax credits on foreign business andnon-business income.

157

Farming and fishing income eligible for the capital gainsdeduction from the disposition of eligible capital property that isQFP or QXP– Use this information to complete Form T657, Part 1 tocalculate your capital gains deduction.

158

Capital gains reserves – Use this amount to complete Form T2017,Summary of Reserves on Dispositions of Capital Property. For moreinformation, see guide T4037, Capital Gains.

159

2

Footnotes for Box 159 Amounts in boxes 160 to 166 are included inbox 159.

Other amounts and information (continued)Capital gains reserve from QFP and QXP transferred to yourchild – Use this information to complete Part 1, Section A of FormT2017.

Capital gains reserve from QSBCS transferred to your child – Usethis information to complete Part 1, Section B of Form T2017.

Capital gains reserve from family farm property other than QFP,or family fishing property other than QXP, transferred to yourchild, or shares of capital stock of a small business corporationother than QFP, QXP, and QSBCS transferred to your child – Usethis information to complete Part 1, Section C of Form T2017.

Canadian exploration expenses (CEE) other than Canadianrenewable and conservation expense (CRCE) – Use this amount tocalculate your allowable deduction for your cumulative Canadianexploration expense (CCEE) pool on Form T1229. Add it at the linecalled "Other resource expenses" in Area II for your CCEE pool. Themaximum you can deduct is 100% of the CCEE pool balance.

Canadian development expenses (CDE) – Use this amount tocalculate your allowable deduction for your cumulative Canadiandevelopment expense (CCDE) pool on Form T1229. Add it at the linecalled "Other resource expenses" in Area II for your CCDE pool. Themaximum you can deduct is 30% of the CCDE pool balance.

160

161

162

Capital gains reserve from other property – Use this information tocomplete Part 1, Section D of Form T2017.163

Capital gains reserve (capital property disposed of beforeNovember 13, 1981) – Use this information to complete Part 2 ofForm T2017.

164

Capital gains reserve from non-qualifying securities thepartnership donated to a qualified donee – Use this information tocomplete Part 1, Section D of Form T2017.

165

Capital gains reserve from gifts of non-qualifying securities –Eligible amount – Use this information to complete Part l, section D ofform T2017.

166

Income tax deducted – Enter this amount on line 437 of yourT1 return.168

Part lX.1 tax169

170 Taxable non-portfolio earnings (TNPE)

Foreign tax paid on non-business income (Multi-jurisdictional) –Use this amount to calculate your foreign tax credits on your foreignnon-business income on Form T2209. For details, see line 405 in yourT1 guide and Form T2036.

171

Foreign tax paid on business income (Multi-jurisdictional) – Usethis amount to calculate your foreign tax credits on your foreignbusiness income on Form T2209. For more information, see line 405 inyour T1 guide.

172

Capital cost allowance – This is your share of capital cost allowancethat the partnership used to arrive at the net income (loss) in boxes114, 116, 120, 122, 124, and 126. Do not deduct this amount again.

040

Use this amount to calculate your adjusted taxable income forForm T691, Alternative Minimum Tax.

Capital cost allowance for rental or leasing property – If youalso own other rental property as a proprietor, combine your share ofpartnership rental income (loss) with the total of your own rentalincome (loss) after expenses, but before CCA. You may then claimCCA on your own rental buildings only to the extent of the combinedrental income, if any. Calculate your CCA in Area A of Form T776,Statement of Real Estate Rentals.

220

Capital cost allowance for film property221

Use Form T1229, Statement of ResourceExpenses and Depletion Allowance.

173 to 176 and 179 to 181If your CCOGPE pool has a negative balance, use that amount toreduce your CCDE pool. If your CCEE or CCDE pools have a negativebalance, report the negative amount as income on line 130 of yourT1 return. For more information, call 1-800-959-5525.

3

173

174

Canadian oil and gas property expenses (COGPE) – Use thisamount to calculate your allowable deduction for your cumulativeCanadian oil and gas property expense (CCOGPE) pool onForm T1229. Add it at the line called "Other resource expenses" inArea II for your CCOGPE pool. The maximum you can deduct is 10%of the CCOGPE pool balance.

175

Foreign exploration and development expenses (FEDE)(Multi-jurisdictional) – Add the amount in Area III on Form T1229 foryour cumulative foreign exploration and development expense pool.

176

Recapture of earned depletion – This is your share of the recaptureof earned depletion that the partnership used to arrive at the netincome (loss) in boxes 114, 116, 120, 124, and 126. We use thisamount. Do not add it to income again.

177

Assistance for Canadian exploration expenses – Use this amountto calculate your allowable deduction for your cumulative Canadianexploration expense (CCEE) pool on Form T1229. Add the amount atthe line called "Assistance" in Area II for your CCEE pool.The maximum you can deduct is 100% of the CCEE pool balance.

179

Assistance for Canadian development expenses – Use this amountto calculate your allowable deduction for your cumulative Canadiandevelopment expense (CCDE) pool on Form T1229. Add the amountat the line called "Assistance" in Area II for your CCDE pool.The maximum you can deduct is 30% of the CCDE pool balance.

180

Assistance for Canadian oil and gas property expenses – Usethis amount to calculate your allowable deduction for your cumulativeCanadian oil and gas property expense (CCOGPE) pool onForm T1229. Add the amount at the line called "Assistance" in Area IIfor your CCOGPE pool.

181

The maximum you can deduct is 10% of the CCOGPE pool balance.

Eligible amount of charitable donations and government gifts –Enter this amount on line 1 of Schedule 9.182

Eligible amount of cultural and ecological gifts – Enter this amounton line 342 of Schedule 9. For details, see your T1 guide.183

Eligible amount of federal political contributions – Enter thisamount on line 409 of Schedule 1. You have to provide the followinginformation to us when you use the amount in box 184 to claim afederal political contribution tax credit.

184

Eligible amount of provincial and territorial politicalcontributions (Multi-jurisdictional) – Enter the political contributionson the appropriate provincial or territorial form.

185

Eligible amount of municipal political contributions(Multi-jurisdictional) – Corporate partners may be able to claim amunicipal tax rebate based on these contributions. Individual partnerswho are residents of Quebec may be able to claim a tax credit on theirprovincial income tax return for these amounts.

207

Eligible amount of medical gifts – Corporate partners report thisamount on a T2 Corporation Income Tax Return.

208

Part Xll.2 Tax Credit – Enter this amount on line 456 of your T1Return.209

186 Investment tax credit (Multi-jurisdictional) – Complete FormT2038(IND), Investment Tax Credit (Individuals), and attach it to yourT1 return. You need the following information to complete FormT2038(IND) when you use the amount in box 186 to claim aninvestment tax credit.

187 Investment tax credit transferred under subsection 127(8.3) –This is the investment tax credit for the fiscal period that thepartnership transferred to you under subsection 127(8.3).

NoteIf you are not a limited partner, you can choose to renouncethe investment tax credit (ITC) for the fiscal period that thepartnership transferred to you under subsection 127(8.3).If you make this choice, complete Form T932, Election by aMember of a Partnership to Renounce Investment Tax CreditsPursuant to Subsection 127(8.4).

Excess ITC recapture – Include the excess ITC recapture on thecorresponding line in the section for Recapture of ITC on SR&EDexpenditures in Part A of Form T2038(IND), Investment Tax Credit(Individuals), or on Form T2SCH31, Investment Tax Credit –Corporations, whichever applies.

188

Capital gains reserve from gifts of non-qualifying securities –Advantage – We use this information.

167

Canadian renewable and conservation expenses – Use this amountto calculate your allowable deduction for your cumulative Canadianexploration expense (CCEE) pool on Form T1229. Add it at the linecalled "Other resource expenses" in Area ll for your CCEE pool. Themaximum you can deduct is 100% of the CCEE pool balance. Forcorporations, add this amount to line 217 called "Add: Canadianrenewable and conservation expenses" of your Schedule 12.

206

ITC Type Code – Use this code when completing Form T2038(IND).189

Tax shelter informationTax Shelter – Other provisions of the Act may apply to reduce any loss fromthe tax shelter that you can claim. For example, the at-risk amount provisionsin subsection 96(2.2) of the Act may apply.

Cost per unit – This is the cost of each unit in the tax shelter that youbought.

Total cost of units – The total cost is the number in box 201 multipliedby the amount in box 202.

Number of units acquired – This is the number of units in the taxshelter that you bought in the year.201

202

203

Renounced Canadian and development expensesUse Form T1229, Statement of Resource Expenses and Depletion Allowance,to calculate your allowable deduction for your resource expense pools.

190 Renounced Canadian exploration expenses – Use this amount tocalculate your allowable deduction for your Canadian explorationexpense (CEE) pool on Form T1229. Add it in Area l for your CEE pool.

Renounced Canadian development expenses – Use this amount tocalculate your allowable deduction for your Canadian developmentexpense (CDE) pool on Form T1229. Add it in Area l for your CDE pool.

191

Assistance for Canadian exploration expenses – Use this amountto calculate your allowable deduction for your Canadian explorationexpense (CEE) pool on Form T1229. Add it in Area l for your CEE pool.

192

Assistance for Canadian development expenses – Use this amountto calculate your allowable deduction for your Canadian developmentexpense (CDE) pool on Form T1229. Add it in Area l for your CDE pool.

193

Expenses qualifying for ITC – Enter this amount in Area l on FormT1229.194

Portion subject to an interest-free period – ITC – Enter this amountin Area l on Form T1229.195

Portion subject to an interest-free period – CEE – Enter this amountin Area l on Form T1229.196

The amounts in boxes 197 to 200 are Canadian explorationexpenses (mining only) that qualify for a provincial tax creditfor individuals. Your province may require you to be a residentat the end of the calendar year in that province where theexpenses qualify for that credit.

197 to 200

Expenses qualifying for a provincial tax credit – BC – You needthis information to calculate provincial tax credits.197

Expenses qualifying for a provincial tax credit – SK – You needthis information to calculate provincial tax credits.198

Expenses qualifying for a provincial tax credit – MB – You need thisinformation to calculate provincial tax credits.199

Expenses qualifying for a provincial tax credit – ON – You needthis information to calculate provincial tax credits.200

4

Use Form T5004, Claim for Tax Shelter Loss or Deduction, to claim your lossor deduction shown in the boxes on this slip. Attach Form T5004 and a copyof this slip to your T1 return.

Other indirect reductions – We use this information.204

SCHEDULE OF AMORTIZATION OF ISSUE COSTS

The following schedule of amortization of issue costs has been provided to assist investors of the Norrep Short

Duration 2014 Flow-Through Limited Partnership (“Partnership”) in completing their individual income tax return

for each of the future taxation years represented below.

You should multiply the deduction per unit indicated for the current taxation year by the number of Partnership

units you owned, and enter the result on Schedule 4, Section IV (Carrying charges and interest expenses) of

your T1 General Tax Return.

Taxation Year Deduction Per Unit Deduction Per 1,000 Units Invested

2016 $0.13070 $130.70

2017 $0.13070 $130.70

2018 $0.13070 $130.70

2019 $0.13070 $130.70

E & OE

Please retain this schedule of amortization of issue costs for use in preparing your

tax return in future taxation years.

Please do not attach this schedule with your tax return

SCHEDULE OF ADJUSTED COST BASE (ACB)

This schedule is intended to assist with the ACB calculation for Norrep Short Duration 2014 FTLP unitholders whose partnership units were exchanged for Norrep Energy Class mutual fund shares at the Partnership's rollover.

Norrep Short Duration 2014 FTLP

Original Norrep Short Duration 2014 FTLP unit purchase price $ 10.00

Effect of T5013 tax slips on ACB:

2014 (10.07)

2015 2.79

Undeducted issue costs (0.52)

Norrep Short Duration 2014 FTLP ACB per unit at March 26, 2015 $ 2.20

Norrep Energy Class

Norrep Energy Class shares acquired on rollover per Norrep Short Duration 2014 FTLP unit held 0.3579

ACB of a Norrep Energy Class share at March 26, 2015 $ 6.15

E & OE

Date post:	05-Dec-2021
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Re: Norrep Short Duration 2014 Flow-Through LP - Final Tax ...

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