Replies to post #678330 on NorthWest Biotherapeutics Inc (NWBO)

[Sojourner55]

Here's something interesting in the document Stonkmaster/Hankmanhub/Dan88

1.73 The 50% tax on non-qualified investments is refundable in certain circumstances. To qualify for the refund, the investment must be disposed of before the end of the calendar year after the year in which the tax arose (or such later time as is permitted by the Minister of National Revenue). However, no refund is available if it is reasonable to consider that the controlling individual knew or ought to have known that the investment was or would become non-qualified. The forms referred to in ¶1.72 explain how to claim the refund.

1.74 If a non-qualified investment becomes qualified while being held by a registered plan, subsection 207.01(6) deems the investment to have been disposed of and reacquired by the plan. This might happen when a delisted security is relisted. This ensures that a refund is available in this situation, provided the conditions described in ¶1.73 are met.

1.75 Subsection 207.06(2) gives the Minister authority to cancel or waive all or part of the 50% tax on non-qualified investments in appropriate circumstances, taking into account such factors as reasonable error. The forms referred to in ¶1.72 explain how to apply for this relief.