Series T Calculator

Assumptions About You

The amount of your initial investment in Series T $0

The initial monthly pre-tax cash flow you want to receive $0

Assumptions About Your Investment

Hypothetical Illustration

Annual Rate of Return

Series T Annual Payout 5%

Accumulation Period (years)

Payout period (years)

Taxable year-end distributions

Your Marginal Tax Rate

Historical Illustration

Select Fund

Start Date -month- -year-

End Date -month- -year-

Series T Annual Payout 5%

Your Marginal Tax Rate

SERIES T CASH FLOW DETAILS

This chart shows the monthly pre-tax and after-tax cash flows at the start of each year of the illustration. Hover over any bar to see the cash flow amounts.

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SERIES T INVESTMENT VALUE

This chart shows value of your Series T investment over time. Also displayed is the cumulative cash flow realized by the investment as well as the Adjusted Cost Base (ACB) that declines as a result of the monthly tax-deferred
distributions.

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SERIES T vs SWP

How your cash flow is treated on an after-tax basis will determine how much you keep and how much is paid back in the form of tax. The table compares the cash-flow of a Series T investment to a Systematic Withdrawal Plan (SWP).

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	Series T Investment	Systematic Withdrawal Plan
Total Pre-Tax Cash Flow	$1,000,000	$1,000,000
Total Taxes Paid	$97,000	$124,000
Total After-Tax Cash Flow	$903,000	$876,000
Average Annual After-Tax Cash Flow	$12,000	$11,200
Effective Annual Tax Rate	9.7%	12.4%

SERIES T CASH FLOW DETAILS

This table provides the details of the cash flow you will receive over years with the Series T investment along with the projected value of your investment at the end of the period.

Year	Beginning Investment Value	Monthly Pre-Tax Series T Distribution	Annual Pre-Tax Series T Distribution	Taxable Year-End Distribution	Ending Investment Value	Adjusted Cost Base	Tax Payable	Annual After-Tax Cash Flow
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5
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8

REPORT DETAILS

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GENERATE REPORT

Assumptions Cash Flow Investment Value Series T vs. SWP Details

DISCLAIMER

The Mackenzie Series T Calculator makes a number of assumptions.

Cash Flow

Cash flow is based on the Series T annual payout rate selected by the user. The amount of the payout is reset annually based on the fund’s net asset value per security.

Cash flow is assumed to consist entirely of return of capital (ROC). A return of capital is not taxable; however, it reduces the adjusted cost base (ACB) of your investment. If the ACB of your investment drops below zero, the adjusted cost base of your investment will be deemed to have increased to zero and you will be deemed to have realized a capital gain equal to the amount of this increase.

In comparison, cash flow received through a systematic withdrawal plan (SWP) comes from the partial redemption of your investment. Half of any capital gain that you realize through such a redemption will be included in your income and taxed at the marginal tax rate indicated on the Assumptions page.

In order to compare the tax efficiency of Series T payouts to a monthly SWP, the calculator assumes the same monthly cash flows.

Taxable Year-End Distribution – Hypothetical Illustration

The calculator assumes that distributions paid by the fund at year end (other than the regular monthly ROC payment) consist entirely of capital gains.

In this scenario, the Taxable Year-End Distribution amount can be between 0% and 5%. The amount selected will be distributed at the end of each calendar year. Any such distribution will be automatically reinvested in additional fund securities. The ACB of your investment will increase by the amount of the reinvestment.

Fund Performance – Historical Illustration

The Mackenzie Series T Calculator uses Series F in order to provide information on the fund’s past performance.

Disclaimer

The information contained herein is based on certain assumptions and is for illustration purposes only. While care is taken in the preparation of this document, no warranty is made as to the accuracy or applicability in any particular case.

FOR ADVISOR USE ONLY

No portion of this communication may be reproduced or distributed to the public as it may not comply with investor sales communication rules. Mackenzie Investments disclaims any responsibility for any advisor sharing this with investors.