June 17, 2008
Bay Wind Shares in Registered Retirement Savings Plan (RRSP)
At Bay Wind we are aspiring that our shareholders generate future growth
from their investments. Due to the potential for future profitability
and lack of liquidity in our type of investment (not publicly traded),
we are recommending that our shareholders with Registered investments
in Bay Wind (RRSP's) seek financial advice from their financial advisor
or tax specialist to see if de-registering is in their best interest.
This does NOT mean you have to sell your shares, it
simply means you should consider or evaluate taking them out of your
RRSP's while the tax consequences are not too high. This is especially
important if you are approaching the age of retirement. We can envision
circumstances that could possibly lead to an appreciation of our share
value, and this would have a direct impact on the tax consequences of
de-registering your investments.
Please note, this does NOT affect your Equity Tax Credit, and you do NOT
have to sell your shares!
Again, we recommend that shareholders with their Bay Wind shares in a
RRSP seek advice from their finance advisor or tax specialist. If during
your consultation(s) with your professional advisor he/she requires any
clarification, please request them to contact me, Alain Belliveau, at
the coordinates listed below.
Sincerely,
Alain Belliveau
Former President
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