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tax filing guide
        for the 2011 taxation year




                                  ENERGY INCOME




          table of contents
          G
           ettingstarted
          ReportingInvestmentIncome            2
          ClaimingResourceExpenses             4
          TaxShelterLossorDeductions         7
          OtherConsiderations                   8
          FrequentlyAskedQuestions             9
          ContactUs                             10
flip open cover to view
   saMple T5013a tax slip




MapleLeafEnergyIncomeprogramsprovideCanadianresident
investorswithexclusiveenergysectorinvestmentsthatprovide
monthlyincome,uptoa100%taxdeduction,liquidityandthe
opportunitytoconvertincomeintocapitalgains.MapleLeaf’s
seasonedmanagementteamachievestheseobjectivesthrough
direct‘non-operated’workinginterests,royaltiesorothersimilar
entitlements.




Top 5 Reasons Maple leaf
energy incoMe May be right
for you:
1  onthlyincome(12%annualizedtarget).
   M
2  pto100%taxdeduction.
   U
3  ccesstoexclusiveenergysectorinvestmentsthat
   A
   providediversificationthroughkeygeographicalareas
   andmulti-zonewells.
4 Capitalappreciationpotential
5 Theopportunitytoconvertincomeintomorefavorably
  taxedcapitalgains.
MAPLE LEAF
   ENERGY INCOME
LIMITED PARTNERSHIP




                      90   91
saMple
               T5013a
               tax slip




                Your T5013a
                YourpersonalT5013ATax
                Slipwillbesentdirectlyto
                youfromyourinvestment
                dealersbackofficeonor
                beforeMarch31st,2012.




    Maple leaf
    energy incoMe
4   prograMs        ta x ation guiDe
getting started

  yoUr t5013a                                                                                   Thistaxfilingguidehasbeenprovided
                                                                                                toassistyouinclaimingyour2011tax
  Yourpersonal T5013A –‘StatementofPartnershipIncomeforTaxShelters                    deductionsfromyourMapleLeafEnergy
  andRenouncedResourceExpenses’willbesentdirectlytoyoufromyour                      IncomeLimitedPartnershipinvestment
  investmentdealers,backofficeonorbeforeMarch31st,2012.Thesame                      (“MapleLeaf”orthe“Partnership.”)
  procedureisfollowedineachsubsequentyear.
                                                                                                Thisguideshouldnotbeconsideredastax
                                                                                                advice.MapleLeafstronglyrecommends
                                                                                                youconsultwithyourprofessionaltaxand/
                                                                                                orinvestmentadvisortodeterminethe
                                                                                                appropriateuseoftaxdeductionsand
                                                                                                othertaxconsiderations.
k e y b o x e s o n y o u r T 5 0 13 a t h at a r e u s e D t o c a l c u l at e y o u r
DeDuction anD are covereD in this guiDe:                                                        Pleasefoldoutthefrontcoverofthis
                                                                                                guideandyouwillfindasampleT5013A.

key boxes                                                                                       Thefiguresprovidedinyourpersonal
                                                                                                T5013Aneedtobeinsertedinthe
                                                                                                applicablesectionsofyourT1TaxReturn
box 22                     CanadianandForeignnetbusinessincome(loss)                      andrelatedschedules.Formsreferred
                                                                                                tointhisbooklet(T1GeneralReturn,
box 50                     InterestfromCanadianSources
                                                                                                Schedule3,Schedule4,T1229,T5004)
box 90                     CanadianExplorationExpenses                                        areavailablefordownloadthroughthe
                                                                                                CanadaRevenueAgency(CRA)website
box 91                     CanadianDevelopmentExpenses                                        www.cra-arc.gc.caorourwebsite
                                                                                                www.Mapleleaffunds.ca.
TheremaybeotherboxesonyourT5013Athatcontaininformation
butdo not have to be enteredonyourtaxreturn.Boxes22-1,150,
151,152and153areforCRAinformationonly.




                                                                                                 noTe:
                                                                                                 YouwillreceiveaT5013Aforeach
                                                                                                 limitedpartnershipyouown.Insome
                                                                                                 cases,youwillneedtosumthe
                                                                                                 amountsfromyourT5013A’sbefore
                                                                                                 insertingthemintotheappropriate
                                                                                                 placeonthetaxschedule.Ifyouare
                                                                                                 usingasoftwareprogram,each
                                                                                                 T5013Ashouldbeenteredseparately.
reporting investment income
                                               please reference insiDe front cover saMple T5013a or your personal ta x forM




box 22
TheamountinBox22representsyour
shareoftheLimitedPartnershipbusiness
income(loss).




                                              t1 - schedule 4, page 1

TheBox22amountandtheBox50amount
fromyourT5013Aarebothrecordedon
Schedule4yourT1TaxReturn.

step 1:Inserttheamountfoundin
Box22ofyourT5013AintoPartIII,
line122-Netpartnershipincome(loss)
ofSchedule4.Carrythatsameamount
forwardtopage2,line122ofyourT1.

Pleasenotethattheincome(loss)thatis
reportedonyourpersonalT1taxreturn
maybedifferentfromtheincome(loss)
showninthefinancialstatements,as
explorationanddevelopmentexpenses
arededucteddifferentlyfortaxpurposes
incomparisontoaccountingpurposes.
expensesaredeductedfortaxpurposes
andhowtheyaredeductedforaccounting
purposes.


     noTe: what is incoMe (loss)?
     Thecashdistributionsarenot
     includedinyourincome–theyare
     takenintoaccountwhendetermining
     theAdjustedCostBase(ACB)ofyour
     unitsfortaxpurposes.




          Maple leaf
          energy incoMe
 2        prograMs        ta x ation guiDe
reporting investment
  please reference insiDe front cover saMple T5013a or your personal ta x forM
                                                                                          income (con’t)

                                                                                       box 50
                                                                                       TheamountinBox50representsthe
                                                                                       interestincomefromCanadiansources.

                                                                                       step 2:Inserttheamountfoundin
                                                                                       Box50ofyourT5013AintoPartIII,line
                                                                                       121-Netpartnershipincome(loss)of
                                                                                       Schedule4.Carrythesameamount
t1, page 2                                                                             forwardtopage2,line121ofyourT1.




                                                                                           noTe: DiD you borrow
                                                                                           or DiD you buy?
                                                                                           Ifyouborrowedanyamountsto
                                                                                           acquireyourlimitedpartnership
                                                                                           units,theamountofinterest
                                                                                           expenseyouincurredintheyear
                                                                                           couldbeincludedinSectionIV
                                                                                           “CarryingChargesInterest
                                                                                           Expenses”ofSchedule4.

                                                                                           Pleaseconsultyourtaxadvisor
                                                                                           astothedeductibilityofsuch
                                                                                           interestexpense.Thetotalof
                                                                                           thissectionisenteredonline
                                                                                           221ofyourT1TaxReturn.




                                                                                                                    Maple leaf
                                                                                                                 energy incoMe
                                                                                              ta x ation guiDe       prograMs        3
claiming resource expenses

box 90  box 91 (renounceD canaDian resource expenses)
TheamountinBox90andBox91ofyourFormT5013ArepresentstheCanadianExplorationExpense(“CEE”)andthe
CanadianDevelopmentExpense(“CDE”)renouncedbytheresourcecompaniesandpassedontoyou,theinvestor.Please
seeNotesforfoundonpage6withrespecttocarryforwardsandmultipleinvestments,ifapplicabletoyou.

TheCEEandCDEamountflowstoyourT1incometaxreturnviatheFormT1229,StatementofResourceExpensesand
DepletionAllowance.ThefirstthreesectionsoftheT1229areused.


                                                   t1229
t1229 area i - suMMary of
t101 anD t5013a expenses

step 1.1 : Startbyenteringthe
Partnership’sBusinessNumberfromBox2
ofyourT5013AintotheIdentification
NumberboxinArea1ofyourT1229.

step 1.2 : EntertheRenouncedCanadian
ExplorationExpense(CEE)fromBox90of
yourT5013AintotheCEERenunciation
columninArea1ofyourT1229.

step 1.3 : EntertheRenouncedCanadian
DevelopmentExpense(CDE)fromBox91
ofyourT5013AintotheCDERenunciation
columninArea1ofyourT1229.


t1229 area ii - canaDian
resource expenDiture pools

step 2.1 : Enteranybalance(s)atthe
beginningoftheyear.

step 2.2 : AddTotalYearRenunciation
fromArea1.

step 2.3 : Calculatesubtotalsand
BalanceAvailable(A)asindicated.

step 2.4 : CalculateMaximum
ExplorationandDevelopmentExpenses
AvailableforDeduction(4)usingthe
appropriateratesasindicated,CCEE-
=100%andCCDE-30%.



        Maple leaf
        energy incoMe
4       prograMs         ta x ation guiDe
claiming resoUrce
 please reference insiDe front cover saMple T5013a or your personal ta x forM
                                                                                              expenses (con’t)
                                                                       90       91



                                                                                90   91




t1 - page 3

                                                                                             step 25: CalculateExplorationand
                                                                                                   .
                                                                                             DevelopmentExpensesClaimedinthe
                                                                                             Year(B)andBalanceatEndofYear(A-B).


                                                                                             t1229 area iii- exploration
                                                                                             anD DevelopMent expenses

                                                                                             step 31: EntertheTotalExplorationand
                                                                                                   .
                                                                                             DevelopmentExpensesClaimedsum(or
                                                                                             claimsinBabove)andentertotalonline
                                                                                             224ofyourreturn.




                                                                                                 neeD a forM t1229?
                                                                                                 Thisformmustbeincludedwith
                                                                                                 yourT1TaxReturnandisavailable
                                                                                                 fordownloadthroughtheCanada
                                                                                                 RevenueAgency(CRA)website
                                                                                                 www.cra-arc.gc.caorourwebsite
                                                                                                 www.MapleLeafFunds .ca




                                                                                                                          Maple leaf
                                                                                                                       energy incoMe
                                                                                                    ta x ation guiDe       prograMs        5
claiming resoUrce
expenses (con’t)                                          please reference insiDe front cover saMple T5013a or your personal ta x forM




                                                                                                                                90       91
box 90  91 continueD...
Pleaseseeimportantnotesandsteps
regardingcarryforwardsandmultiple
investments.




    noTe: carry forwarDs
    FurtheronclaimingresourceexpensesthecalculationsusedinSectionIIandIIIofyourFormT1229takealittlemore
    thoughtduetothefactthatCEEandCDEamountsneednotbeusedimmediatelyandtheycanbecarriedforwardand
    usedinfutureyears.Likewise,thecurrentyear’sreturncouldreflectunusedamountscarriedforwardfromearlier
    years.TheCCEEcolumnorCCDEcolumnofSectionIImayrequireinvestorstochecktheirreturnsfromtheprevious
    yeartoseeifthereisunusedCEEorCDEfrompreviousyears.Ifthereisanamountthathasnotbeenclaimed,itmay
    beenteredonline1–“Balanceatthebeginningoftheyear.”Thecurrentyearrenunciationgoesonthesecondlineof
    thissection,andflowsdowntothebottomoftheCCEEorCDEEcolumn.




    noTe: Multiple investMents
    Ifyouhavemorethanoneresourceinvestment,youwillneedtoincludeall(CEE)or(CDE)amountsallocatedtoyouin
    theapplicableboxesofthissectionbeforecomputingtheamountyoumayclaiminyourtaxreturn.Themaximum
    claimiscomputedonline4.EntertheamountyouwishtoclaimonlineB(generally,thiswillbethemaximum
    amount).Subtracttheamountyouwishtoclaimfromthemaximumamounttocomputetheamount,ifanyandthat
    willbecarriedforwardto2011.TheamountofCCEEorCDEEalongwithotherresourceexpenditures(acronyms
    CCOGPE)fromlineBshouldbeaddedtogetherandusedasthefirstlineofSectionIII.ThefinallineofSectionIIIis
    enteredonline224ofyourT1TaxReturn.




         Maple leaf
         energy incoMe
6        prograMs        ta x ation guiDe
tax shelter loss or deductions
  please reference insiDe front cover saMple T5013a or your personal ta x forM




                                                                                 AClaimforTaxShelterLossorDeduction
                                                                                 (T5004)mustbecompletedinorderto
                                                                                 claimdeductionsrelatedtoyourMaple
                                                                                 LeafLimitedPartnership.

                                                                                 Theinformationonthisformwillbetaken
                                                                                 fromtheT5013AandfromSchedule4of
                                                                                 yourT1TaxReturn.
t5004 - page 1
                                                                                 step 1: Takethetaxshelteridentification
                                                                                 number,whichisasix-digitnumberwitha
                                                                                 TSprefixlocatedinbox3atthetopcentre
                                                                                 ofyourT5013Aandenteritintocolumn1,
                                                                                 line1ofyourT5004.

                                                                                 step 2: Enterthetaxsheltername,
                                                                                 i.e.whicheverspecificMapleLeafLimited
                                                                                 Partnership(s)youhave investedin(e.g.
                                                                                 MapleLeaf2011EnergyIncomeLimited
                                                                                 Partnership)intocolumn2.

                                                                                 step 3: Enterthepurchasedateis
                                                                                 thedateofpurchaseofyourMapleLeaf
                                                                                 LimitedPartnership(s)intocolumn3.

                                                                                 step 4: Entertheamountfoundinbox35
                                                                                 “Businessincomeloss”intocolumn4
                                                                                 “Lossordeductionclaimed”.

                                                                                 step 5: Incolumn5,entertheline
                                                                                 numberthatthisamountisreportedonin
                                                                                 yourT1Taxreturn(generallythisisfound
                                                                                 oneitherExplorationandDevelopment
                                                                                 Expenses(line224)orNetPartnership
                                                                                 Income(line122)ofyourT1TaxReturn).



                                                                                 note: Ifyouownmorethanonelimited
                                                                                 partnershiportax-shelterinvestment,these
                                                                                 amountsmustbeaddedonindividuallines
                                                                                 onyourT5004andtotaledinbox6765.




                                                                                                              Maple leaf
                                                                                                           energy incoMe
                                                                                        ta x ation guiDe       prograMs     7
other considerations
     Thisguidehasbeendesignedtoofferyouassistancewhenclaimingyour2010taxdeduction
     fromyourMapleLeafinvestment.Thereareanumberofadditionalconsiderationsthatmay
     beapplicabletoyoursituation.Hereareafewexamples:

1  the cee or cDe election
                                                  4   lternative Minimum tax
                                                       a
    Whileaninvestorisallowedtodeduct           Alternativeminimumtaxmayapply
    thefullrenouncedCEEorCDE,itisnot         inagiventaxationyear,dependingon
    required.Aspartofataxplanningstrat-        theamountofrenouncedexpenditures
    egyaninvestormayfinditadvantageous         deductedbytheinvestor.
    tocarryforwardsomeorallofan            5  issue costs
    availableCCEEorCCDEdeductionand              Investorsmaydeductissuecosts
    usethisamountinsubsequentyears.               associatedwithaflow-throughlimited
2   umulative net investment
    c                                                  partnershipoveranumberofyears
    losses (cnil)                                     subsequenttothedissolutionofthe
    Utilizationoftaxdeductionsthrough             partnership.Thesecostscanbe
    flow-throughsharesmayhaveaneffect            deductedonline122ofyourincome
    onaninvestor’scalculationsofCNIL.             taxreturn.
3  capital gains exemptions
    Renouncedexpendituresdeductedby
    theinvestormayaffecttheabilityofthe
    taxpayertoclaimthe$750,000capital
    gainsexemptioninrespectofsalesof
    qualifiedsmallbusinesssharesand
    certainfarmorfishingassets,asthe
    calculationofataxpayer’sCNILrequires
    aninclusionof50percentofthededuc-
    tionstakenbythetaxpayerinrespectof
    flow-throughsharerenouncement’s.




     noTe:
     Thisisnotadetailedlistingof
     everypossibletaxconsideration
     andisdesignedtobeageneral
     guideonly.Eachindividual’stax
     andinvestmentplanningsituation
     isuniqueandprofessionaladvice
     shouldalwaysbereceivedfroma
     qualifiedtaxand/orinvestment
     specialist.




          Maple leaf
          energy incoMe
 8        prograMs          ta x ation guiDe
freQuentlY asKed Questions

what tax DeDuctions can i expect?
MapleLeafEnergyIncomeLimitedPartnershipshavebeenstructuredtoprovideinvestorswithuptoa100%taxdeductionoverapproximately5
years.


when will i receive My t5013a tax slip?
YourT5013Ataxslipwillbemaileddirectlytoyoubyyourinvestmentdealersbackoffice,onorbeforeMarch31stofeachyearduringofthelifeof
thePartnership.IfyoudonotreceiveyourT5013AorrequireareprintyourT5013A,pleasecontactyourinvestmentadvisorandtheywillcontact
theirbackofficeonyourbehalf.


when can i expect to receive cash Distributions on their investMent?
ThePartnershipexpectstopaycashdistributionsfromthesaleofitsshareofoilandgasproducedbydevelopedwellscommencingapproximately
9-12monthsfromthedateofthefinalclosingoftheoffering.Thesecashdistributionswillbeautomaticallydepositeddirectlyintoinvestorsaccount
viatheirdealer’sbackoffice.



when Does a liquiDity event occur anD what will i receive at that tiMe?
ThelifecycleofthePartnershipthroughtoliquidityisexpectedtobeapproximately3years.TheGeneralPartnercurrentlyexpectstheliquidity
eventwillbethesaleoftheinvestments(directnon-operatedworkinginterests,royalties,orothersimilarentitlements)heldbythePartnershiptoa
publiccompanyestablishedbyToscanaCapitalCorporationinexchangeforlistedsharesonatax-deferredbasis.ThePartnershipwouldthen
dissolveanddistributetheselistedsharestotheformerinvestors.Intheeventofreceivingsharesofapubliclytradedcompany,ataxeventis
typicallydeferreduntilthesecuritiesaresold.




                                                                                                                                          Maple leaf
                                                                                                                                       energy incoMe
                                                                                                                    ta x ation guiDe       prograMs       9
contact us

     corporate office                       corporate office
     caDo bancorp ltd.                      toscana energy corp.
     POBox10357,Suite808               2550,700-2ndStreet,S.W.
     609GranvilleStreet,                Calgary,ABT2P2W2
     Vancouver,BCV7Y1G5
                                            Tel
                                                     403.410.6792
     Tel
              604.684.5742              Fax      403.444.0900
     Fax      604.684.5748
     Email    info@cadobancorp.ca


     transfer agent                         legal counsel                                auDitors
     valiant trust company                  borden ladner gervais, llp                   pricewaterhousecoopers
     600-750CambieStreet,             P.O.Box48600,1200-200                 250HoweStreet,Suite700
     Vancouver,BCV6B0A2                 BurrardStreet,Vancouver,BC              Vancouver,BCV6C3S7
                                            V7X1T2
     Tel
           604.699.4880                                                                Tel
                                                                                                 604.806.7000
     Fax   604.681.3067                   Tel
                                                  604.687.5744                         Fax     604.806.7806
     www.valianttrust.com                   Fax   604.687.1415
                                            www.blgcanada.com



 if you neeD help                           Thisguideandotherrelevantinformation
 with the following...                      canbefoundonthetaxreporting2011
                                            pageonourwebsite:
 •  t’sMarch31standyoustill
    I
     haven’treceivedyourtaxslip       www.MapleLeafFunds.ca
     orifyouneedare-print
 •  ouneedtochangeyour
    Y
     accountaddressfordelivery
     ofyourtaxslip
 ... please contact your advisor
     and they will contact their
     administrative back office.

 if you neeD help
 with the following...
 •  ouneedhelpfillingout
    Y
     yourforms
 •  ourequiredetailedor
    Y
     advancedtaxadvice
 ... please contact your
     professional tax advisor.




        Maple leaf
        energy incoMe
10      prograMs         ta x ation guiDe

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Maple Leaf Energy Income Tax Guide_sp

  • 1. tax filing guide for the 2011 taxation year ENERGY INCOME table of contents G ettingstarted ReportingInvestmentIncome 2 ClaimingResourceExpenses 4 TaxShelterLossorDeductions 7 OtherConsiderations 8 FrequentlyAskedQuestions 9 ContactUs 10
  • 2. flip open cover to view saMple T5013a tax slip MapleLeafEnergyIncomeprogramsprovideCanadianresident investorswithexclusiveenergysectorinvestmentsthatprovide monthlyincome,uptoa100%taxdeduction,liquidityandthe opportunitytoconvertincomeintocapitalgains.MapleLeaf’s seasonedmanagementteamachievestheseobjectivesthrough direct‘non-operated’workinginterests,royaltiesorothersimilar entitlements. Top 5 Reasons Maple leaf energy incoMe May be right for you: 1 onthlyincome(12%annualizedtarget). M 2 pto100%taxdeduction. U 3 ccesstoexclusiveenergysectorinvestmentsthat A providediversificationthroughkeygeographicalareas andmulti-zonewells. 4 Capitalappreciationpotential 5 Theopportunitytoconvertincomeintomorefavorably taxedcapitalgains.
  • 3. MAPLE LEAF ENERGY INCOME LIMITED PARTNERSHIP 90 91
  • 4. saMple T5013a tax slip Your T5013a YourpersonalT5013ATax Slipwillbesentdirectlyto youfromyourinvestment dealersbackofficeonor beforeMarch31st,2012. Maple leaf energy incoMe 4 prograMs ta x ation guiDe
  • 5. getting started yoUr t5013a Thistaxfilingguidehasbeenprovided toassistyouinclaimingyour2011tax Yourpersonal T5013A –‘StatementofPartnershipIncomeforTaxShelters deductionsfromyourMapleLeafEnergy andRenouncedResourceExpenses’willbesentdirectlytoyoufromyour IncomeLimitedPartnershipinvestment investmentdealers,backofficeonorbeforeMarch31st,2012.Thesame (“MapleLeaf”orthe“Partnership.”) procedureisfollowedineachsubsequentyear. Thisguideshouldnotbeconsideredastax advice.MapleLeafstronglyrecommends youconsultwithyourprofessionaltaxand/ orinvestmentadvisortodeterminethe appropriateuseoftaxdeductionsand othertaxconsiderations. k e y b o x e s o n y o u r T 5 0 13 a t h at a r e u s e D t o c a l c u l at e y o u r DeDuction anD are covereD in this guiDe: Pleasefoldoutthefrontcoverofthis guideandyouwillfindasampleT5013A. key boxes Thefiguresprovidedinyourpersonal T5013Aneedtobeinsertedinthe applicablesectionsofyourT1TaxReturn box 22 CanadianandForeignnetbusinessincome(loss) andrelatedschedules.Formsreferred tointhisbooklet(T1GeneralReturn, box 50 InterestfromCanadianSources Schedule3,Schedule4,T1229,T5004) box 90 CanadianExplorationExpenses areavailablefordownloadthroughthe CanadaRevenueAgency(CRA)website box 91 CanadianDevelopmentExpenses www.cra-arc.gc.caorourwebsite www.Mapleleaffunds.ca. TheremaybeotherboxesonyourT5013Athatcontaininformation butdo not have to be enteredonyourtaxreturn.Boxes22-1,150, 151,152and153areforCRAinformationonly. noTe: YouwillreceiveaT5013Aforeach limitedpartnershipyouown.Insome cases,youwillneedtosumthe amountsfromyourT5013A’sbefore insertingthemintotheappropriate placeonthetaxschedule.Ifyouare usingasoftwareprogram,each T5013Ashouldbeenteredseparately.
  • 6. reporting investment income please reference insiDe front cover saMple T5013a or your personal ta x forM box 22 TheamountinBox22representsyour shareoftheLimitedPartnershipbusiness income(loss). t1 - schedule 4, page 1 TheBox22amountandtheBox50amount fromyourT5013Aarebothrecordedon Schedule4yourT1TaxReturn. step 1:Inserttheamountfoundin Box22ofyourT5013AintoPartIII, line122-Netpartnershipincome(loss) ofSchedule4.Carrythatsameamount forwardtopage2,line122ofyourT1. Pleasenotethattheincome(loss)thatis reportedonyourpersonalT1taxreturn maybedifferentfromtheincome(loss) showninthefinancialstatements,as explorationanddevelopmentexpenses arededucteddifferentlyfortaxpurposes incomparisontoaccountingpurposes. expensesaredeductedfortaxpurposes andhowtheyaredeductedforaccounting purposes. noTe: what is incoMe (loss)? Thecashdistributionsarenot includedinyourincome–theyare takenintoaccountwhendetermining theAdjustedCostBase(ACB)ofyour unitsfortaxpurposes. Maple leaf energy incoMe 2 prograMs ta x ation guiDe
  • 7. reporting investment please reference insiDe front cover saMple T5013a or your personal ta x forM income (con’t) box 50 TheamountinBox50representsthe interestincomefromCanadiansources. step 2:Inserttheamountfoundin Box50ofyourT5013AintoPartIII,line 121-Netpartnershipincome(loss)of Schedule4.Carrythesameamount t1, page 2 forwardtopage2,line121ofyourT1. noTe: DiD you borrow or DiD you buy? Ifyouborrowedanyamountsto acquireyourlimitedpartnership units,theamountofinterest expenseyouincurredintheyear couldbeincludedinSectionIV “CarryingChargesInterest Expenses”ofSchedule4. Pleaseconsultyourtaxadvisor astothedeductibilityofsuch interestexpense.Thetotalof thissectionisenteredonline 221ofyourT1TaxReturn. Maple leaf energy incoMe ta x ation guiDe prograMs 3
  • 8. claiming resource expenses box 90 box 91 (renounceD canaDian resource expenses) TheamountinBox90andBox91ofyourFormT5013ArepresentstheCanadianExplorationExpense(“CEE”)andthe CanadianDevelopmentExpense(“CDE”)renouncedbytheresourcecompaniesandpassedontoyou,theinvestor.Please seeNotesforfoundonpage6withrespecttocarryforwardsandmultipleinvestments,ifapplicabletoyou. TheCEEandCDEamountflowstoyourT1incometaxreturnviatheFormT1229,StatementofResourceExpensesand DepletionAllowance.ThefirstthreesectionsoftheT1229areused. t1229 t1229 area i - suMMary of t101 anD t5013a expenses step 1.1 : Startbyenteringthe Partnership’sBusinessNumberfromBox2 ofyourT5013AintotheIdentification NumberboxinArea1ofyourT1229. step 1.2 : EntertheRenouncedCanadian ExplorationExpense(CEE)fromBox90of yourT5013AintotheCEERenunciation columninArea1ofyourT1229. step 1.3 : EntertheRenouncedCanadian DevelopmentExpense(CDE)fromBox91 ofyourT5013AintotheCDERenunciation columninArea1ofyourT1229. t1229 area ii - canaDian resource expenDiture pools step 2.1 : Enteranybalance(s)atthe beginningoftheyear. step 2.2 : AddTotalYearRenunciation fromArea1. step 2.3 : Calculatesubtotalsand BalanceAvailable(A)asindicated. step 2.4 : CalculateMaximum ExplorationandDevelopmentExpenses AvailableforDeduction(4)usingthe appropriateratesasindicated,CCEE- =100%andCCDE-30%. Maple leaf energy incoMe 4 prograMs ta x ation guiDe
  • 9. claiming resoUrce please reference insiDe front cover saMple T5013a or your personal ta x forM expenses (con’t) 90 91 90 91 t1 - page 3 step 25: CalculateExplorationand . DevelopmentExpensesClaimedinthe Year(B)andBalanceatEndofYear(A-B). t1229 area iii- exploration anD DevelopMent expenses step 31: EntertheTotalExplorationand . DevelopmentExpensesClaimedsum(or claimsinBabove)andentertotalonline 224ofyourreturn. neeD a forM t1229? Thisformmustbeincludedwith yourT1TaxReturnandisavailable fordownloadthroughtheCanada RevenueAgency(CRA)website www.cra-arc.gc.caorourwebsite www.MapleLeafFunds .ca Maple leaf energy incoMe ta x ation guiDe prograMs 5
  • 10. claiming resoUrce expenses (con’t) please reference insiDe front cover saMple T5013a or your personal ta x forM 90 91 box 90 91 continueD... Pleaseseeimportantnotesandsteps regardingcarryforwardsandmultiple investments. noTe: carry forwarDs FurtheronclaimingresourceexpensesthecalculationsusedinSectionIIandIIIofyourFormT1229takealittlemore thoughtduetothefactthatCEEandCDEamountsneednotbeusedimmediatelyandtheycanbecarriedforwardand usedinfutureyears.Likewise,thecurrentyear’sreturncouldreflectunusedamountscarriedforwardfromearlier years.TheCCEEcolumnorCCDEcolumnofSectionIImayrequireinvestorstochecktheirreturnsfromtheprevious yeartoseeifthereisunusedCEEorCDEfrompreviousyears.Ifthereisanamountthathasnotbeenclaimed,itmay beenteredonline1–“Balanceatthebeginningoftheyear.”Thecurrentyearrenunciationgoesonthesecondlineof thissection,andflowsdowntothebottomoftheCCEEorCDEEcolumn. noTe: Multiple investMents Ifyouhavemorethanoneresourceinvestment,youwillneedtoincludeall(CEE)or(CDE)amountsallocatedtoyouin theapplicableboxesofthissectionbeforecomputingtheamountyoumayclaiminyourtaxreturn.Themaximum claimiscomputedonline4.EntertheamountyouwishtoclaimonlineB(generally,thiswillbethemaximum amount).Subtracttheamountyouwishtoclaimfromthemaximumamounttocomputetheamount,ifanyandthat willbecarriedforwardto2011.TheamountofCCEEorCDEEalongwithotherresourceexpenditures(acronyms CCOGPE)fromlineBshouldbeaddedtogetherandusedasthefirstlineofSectionIII.ThefinallineofSectionIIIis enteredonline224ofyourT1TaxReturn. Maple leaf energy incoMe 6 prograMs ta x ation guiDe
  • 11. tax shelter loss or deductions please reference insiDe front cover saMple T5013a or your personal ta x forM AClaimforTaxShelterLossorDeduction (T5004)mustbecompletedinorderto claimdeductionsrelatedtoyourMaple LeafLimitedPartnership. Theinformationonthisformwillbetaken fromtheT5013AandfromSchedule4of yourT1TaxReturn. t5004 - page 1 step 1: Takethetaxshelteridentification number,whichisasix-digitnumberwitha TSprefixlocatedinbox3atthetopcentre ofyourT5013Aandenteritintocolumn1, line1ofyourT5004. step 2: Enterthetaxsheltername, i.e.whicheverspecificMapleLeafLimited Partnership(s)youhave investedin(e.g. MapleLeaf2011EnergyIncomeLimited Partnership)intocolumn2. step 3: Enterthepurchasedateis thedateofpurchaseofyourMapleLeaf LimitedPartnership(s)intocolumn3. step 4: Entertheamountfoundinbox35 “Businessincomeloss”intocolumn4 “Lossordeductionclaimed”. step 5: Incolumn5,entertheline numberthatthisamountisreportedonin yourT1Taxreturn(generallythisisfound oneitherExplorationandDevelopment Expenses(line224)orNetPartnership Income(line122)ofyourT1TaxReturn). note: Ifyouownmorethanonelimited partnershiportax-shelterinvestment,these amountsmustbeaddedonindividuallines onyourT5004andtotaledinbox6765. Maple leaf energy incoMe ta x ation guiDe prograMs 7
  • 12. other considerations Thisguidehasbeendesignedtoofferyouassistancewhenclaimingyour2010taxdeduction fromyourMapleLeafinvestment.Thereareanumberofadditionalconsiderationsthatmay beapplicabletoyoursituation.Hereareafewexamples: 1 the cee or cDe election 4 lternative Minimum tax a Whileaninvestorisallowedtodeduct Alternativeminimumtaxmayapply thefullrenouncedCEEorCDE,itisnot inagiventaxationyear,dependingon required.Aspartofataxplanningstrat- theamountofrenouncedexpenditures egyaninvestormayfinditadvantageous deductedbytheinvestor. tocarryforwardsomeorallofan 5 issue costs availableCCEEorCCDEdeductionand Investorsmaydeductissuecosts usethisamountinsubsequentyears. associatedwithaflow-throughlimited 2 umulative net investment c partnershipoveranumberofyears losses (cnil) subsequenttothedissolutionofthe Utilizationoftaxdeductionsthrough partnership.Thesecostscanbe flow-throughsharesmayhaveaneffect deductedonline122ofyourincome onaninvestor’scalculationsofCNIL. taxreturn. 3 capital gains exemptions Renouncedexpendituresdeductedby theinvestormayaffecttheabilityofthe taxpayertoclaimthe$750,000capital gainsexemptioninrespectofsalesof qualifiedsmallbusinesssharesand certainfarmorfishingassets,asthe calculationofataxpayer’sCNILrequires aninclusionof50percentofthededuc- tionstakenbythetaxpayerinrespectof flow-throughsharerenouncement’s. noTe: Thisisnotadetailedlistingof everypossibletaxconsideration andisdesignedtobeageneral guideonly.Eachindividual’stax andinvestmentplanningsituation isuniqueandprofessionaladvice shouldalwaysbereceivedfroma qualifiedtaxand/orinvestment specialist. Maple leaf energy incoMe 8 prograMs ta x ation guiDe
  • 13. freQuentlY asKed Questions what tax DeDuctions can i expect? MapleLeafEnergyIncomeLimitedPartnershipshavebeenstructuredtoprovideinvestorswithuptoa100%taxdeductionoverapproximately5 years. when will i receive My t5013a tax slip? YourT5013Ataxslipwillbemaileddirectlytoyoubyyourinvestmentdealersbackoffice,onorbeforeMarch31stofeachyearduringofthelifeof thePartnership.IfyoudonotreceiveyourT5013AorrequireareprintyourT5013A,pleasecontactyourinvestmentadvisorandtheywillcontact theirbackofficeonyourbehalf. when can i expect to receive cash Distributions on their investMent? ThePartnershipexpectstopaycashdistributionsfromthesaleofitsshareofoilandgasproducedbydevelopedwellscommencingapproximately 9-12monthsfromthedateofthefinalclosingoftheoffering.Thesecashdistributionswillbeautomaticallydepositeddirectlyintoinvestorsaccount viatheirdealer’sbackoffice. when Does a liquiDity event occur anD what will i receive at that tiMe? ThelifecycleofthePartnershipthroughtoliquidityisexpectedtobeapproximately3years.TheGeneralPartnercurrentlyexpectstheliquidity eventwillbethesaleoftheinvestments(directnon-operatedworkinginterests,royalties,orothersimilarentitlements)heldbythePartnershiptoa publiccompanyestablishedbyToscanaCapitalCorporationinexchangeforlistedsharesonatax-deferredbasis.ThePartnershipwouldthen dissolveanddistributetheselistedsharestotheformerinvestors.Intheeventofreceivingsharesofapubliclytradedcompany,ataxeventis typicallydeferreduntilthesecuritiesaresold. Maple leaf energy incoMe ta x ation guiDe prograMs 9
  • 14. contact us corporate office corporate office caDo bancorp ltd. toscana energy corp. POBox10357,Suite808 2550,700-2ndStreet,S.W. 609GranvilleStreet, Calgary,ABT2P2W2 Vancouver,BCV7Y1G5 Tel 403.410.6792 Tel 604.684.5742 Fax 403.444.0900 Fax 604.684.5748 Email info@cadobancorp.ca transfer agent legal counsel auDitors valiant trust company borden ladner gervais, llp pricewaterhousecoopers 600-750CambieStreet, P.O.Box48600,1200-200 250HoweStreet,Suite700 Vancouver,BCV6B0A2 BurrardStreet,Vancouver,BC Vancouver,BCV6C3S7 V7X1T2 Tel 604.699.4880 Tel 604.806.7000 Fax 604.681.3067 Tel 604.687.5744 Fax 604.806.7806 www.valianttrust.com Fax 604.687.1415 www.blgcanada.com if you neeD help Thisguideandotherrelevantinformation with the following... canbefoundonthetaxreporting2011 pageonourwebsite: • t’sMarch31standyoustill I haven’treceivedyourtaxslip www.MapleLeafFunds.ca orifyouneedare-print • ouneedtochangeyour Y accountaddressfordelivery ofyourtaxslip ... please contact your advisor and they will contact their administrative back office. if you neeD help with the following... • ouneedhelpfillingout Y yourforms • ourequiredetailedor Y advancedtaxadvice ... please contact your professional tax advisor. Maple leaf energy incoMe 10 prograMs ta x ation guiDe