Lea Hill Email and Phone Number

After 38 years of working at CIBC Wood Gundy in various roles, I retired in June 2011. For the last 10 years of my career, I was the closed-end fund/split corporation specialist for the Private Client division. In 2007, I set up ACB Tracking Inc., a web-based service, that allows the user to calculate accurate adjusted cost bases for Canadian-listed ETFs, closed-end funds, and other Canadian listed trusts. Don't depend upon book values shown by the dealers to always be accurate! For example, if positions sold made "phantom distributions" during the holding period, investors could end up paying taxes on the same distribution twice if the cost base is not adjusted correctly! The attached article appeared in the Fall 2019 edition of "Your Guide to ETF Investing" -- it's a good summary of the issue. Be sure to check out the ACB Tracking web site at www.acbtracking.ca for further details.