Blog Archives

Are ZooShare bonds RRSP or TFSA eligible?

ZooShare has begun the process of making our bonds RRSP/TFSA eligible, however, we do not know when this process will be completed: it requires of an independent valuation by a financial services company that will then be used to underwrite a legal opinion that ZooShare bonds are RRSP/TFSA eligible, and this legal opinion will be available for anyone who would like to transfer their bonds into an RRSP/TFSA account. There is no guarantee that your financial institution will allow you to hold ZooShare bonds in your RRSP/TFSA account.

Please make your investment decision as if ZooShare bonds are not eligible.

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Where are my T5s?

T5s were emailed and mailed out in February.  Please check both your post box and your inbox.  In the latter case, please look for an email from our bond administration team, Tapestry Capital: services@tapestrycapital.ca (a few investors have reported the email was in their spam/junk folder). The PDF document is password-protected for your safety. You will have to enter your 9-digit Social Insurance Number (SIN) or Business Number (BN) as the password before you can view it. The password should be in the following format XXXXXXXXX (without spaces).  If you can’t find your current or past electronic T5s, or if you didn’t receive a mailed T5, please follow up with Gareth, Community Investment Coordinator, at gareth@zooshare.ca

How and when will I be paid?

It depends on how you filled out the original investment form: you will either be paid by cheque or direct deposit.  Please note cheques will take longer due to COVID-19 restrictions.

Maturing Bonds: If your bond is maturing and you would like to be paid out the principal, you will be paid within 10 business days after the month that your bond matures (for example, if your bond matures at any time in July, you will be paid by August 13th).  If you have any concerns or issues with these timelines, please contact us immediately.  Please note that all accrued interest earned between January 1st 2021 and the date of your bond’s maturity will automatically be paid out.

Accrued Interest Payment: Investors received their first accrued interest payment for all accrued interest owing from the time of your bond’s purchase up until Dec/31/2020.  Payments were issued in January or early February 2021.  Please check your bank statements for payment(s) from “ZooShare Biogas Coop INV”.    If you are still waiting for an interest payment, it is because: a) we do not have your banking information on file, or b) we encountered an error processing your payment and have been unable to get in touch with you.  Please securely update your bank/contact information here.

Please contact Gareth at gareth@zooshare.ca or call 647-704-6078 for additional details specific to your investment.

Where is my bond package?

If you rolled over your principal and/or accrued interest, or purchased a new bond, then your bond package is on the way!  Thank you for your patience.  Due to COVID-19 restrictions, your bond package is now completely electronic, including the copy of your bond(s).

How do I update my banking information?

You can securely update your banking information by clicking hereYou will need to upload a scan or photo of a void cheque (or, if you do not have a cheque book, you can download a Direct Deposit Form from your online bank instead and upload that).  If you need technical assistance, please email Gareth at gareth@zooshare.ca or call 647-704-6078 between the hours of 10am-6pm.

Do I have to pay taxes on my ZooShare bond(s)?

Yes: you must pay tax every year on the interest income received. Interest income is reported to you on a T5 slip, “Statement of Investment Income” each February and should be reported on your annual tax return.  If you are the primary owner of the bond (the name listed on the bond) you pay taxes on the earnings each year.  If you purchased a bond as a gift for someone else (such as a child/grandchild), that person has to pay taxes on the earnings each year.

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Why is the interest from my 5% (Series 3) bond lower than I expected?

Series 3 bonds were originally designed to earn a nominal amount of interest, 0.5%, in escrow, until we finished construction (at which point they would start earning 5%). The bonds earned 0.5% in escrow until July 18, 2018, when we reached Commercial Operation Date (COD), according to the Feed-In-Tariff contract terms. After July 18th, 2018, Series 3 bonds started earning 5%. You can review and confirm the details in the Series 3 Offering Statement, Trust Agreement and Escrow Agreement.

My question isn’t here.

No problem, please call Gareth, our Community Investment Coordinator, at 647-704-6078 between the hours of 10am-6pm, Monday to Friday. Alternatively, please email gareth@zooshare.ca