Important Information Regarding Tax Elections
Election Deadline
60 Days
following the Effective Date to complete the online tax election questionnaire.
On June 5, 2026, a Management Information Circular (the “MIC”) was published with further detail on the combination of Brookfield Corporation (“BN”) and Brookfield Wealth Solutions Ltd. (“BWS”) (the “Transaction”) and the opportunity for Eligible Canadian Holders of BN Class A Shares to elect to receive exchangeable shares (the “Exchangeable Shares”) in Brookfield Canada Corporation (“New BNC”) as consideration for their BN Class A Shares pursuant to the Transaction.
Generally an Eligible Canadian Holder who validly makes a joint election with New BNC under Section 85 of the Income Tax Act (Canada) may obtain a full or partial deferral of any capital gain that would otherwise arise on the disposition of such Eligible Canadian Holder’s BN Class A Shares.
Eligible Canadian Holders will be able to complete an online questionnaire, once available, to support preparation of the required election forms free of charge. This site provides key details, timelines and next steps to help you prepare and make an informed decision.
You may want to file a Section 85 election if:
Not sure? Consult your tax advisor before filing.
Overview
The purpose of making a Joint Tax Election is to permit Eligible Canadian Holders to fully or partially defer the tax on any capital gain realized on receiving Exchangeable Shares in New BNC as consideration for their BN Class A Shares pursuant to the Transaction. The election is made under Section 85 of the Income Tax Act (Canada) (the “Tax Act”).
For many Canadian-resident taxpayers, it can be advantageous to make the Tax Election if you are eligible and are in a position where you will realize a capital gain. However, you should seek professional advice to determine whether making the Tax Election is appropriate, considering your particular facts and circumstances. If you do not make the election, the exchange of your shares could trigger adverse tax consequences for the taxation year in which the disposition occurs.
The relevant federal income tax election form is CRA Form T2057 (or, if the Shares are held as Canadian partnership property, CRA Form T2058). Some Eligible Canadian Holders may also need to file separate election forms with their provincial taxing authority.
Some key information you will need to complete the form:
Before starting the online questionnaire, please gather the following information so you can complete it in one sitting:
Announcement
Date: May 26, 2026
Brookfield publishes the deal announcement.
Letter of Transmittal & Election Form
Eligible Canadian Holders, who hold registered shares (i.e., not through a broker), are required to properly complete and duly execute the Letter of Transmittal received with the MIC and Election Form before the Effective Date. Eligible Canadian Holders who do not hold registered shares (i.e., hold through a broker) should connect with their broker on completion of the Letter of Transmittal.
Effective Date / Election questionnaire opens
Date: TBD
On the Effective Date, the detailed transfer terms and FMV figures become available, and the online questionnaire opens for Eligible Canadian Holders to begin the Section 85 election process. Eligible Canadian Holders will have 60 days from the Effective Date to complete the questionnaire.
Election forms prepared
Forms prepared within 30 days of complete submission
Applicable election forms, including Form T2057 or Form T2058 and any provincial filings, will be prepared based on your questionnaire responses and shared with you within 30 days of the Shareholder submitting complete information.
Election forms signed and submitted
Shareholder to review, sign and submit forms to the relevant tax authority in accordance with the instructions provided.
Eligible Canadian Holders will complete an online questionnaire, which will be made available on this site, to begin the Section 85 election process.
The questionnaire is designed to collect the information required to prepare your election forms and guide you through each step.
Important
You are responsible for your own tax election forms, including any applicable provincial filings. This includes ensuring the election forms are correct and complete and complying with the provisions of the Tax Act (and applicable provincial income tax law). You are responsible for reviewing, signing and filing your election forms with the CRA (or the applicable provincial taxing authority).
Failure to complete the process properly or on time may result in the Transaction being treated as a taxable disposition and/or taxes, interest or penalties for which you are responsible.
This information is general only. Shareholders should consult their own tax advisors regarding their specific circumstances.
Once a complete questionnaire and signed authorization are submitted, your election package will be prepared for your review within 30 days of submission, subject to the information you provide being complete.
For brokers and intermediaries
A separate process will be available for brokers or intermediaries supporting multiple Eligible Canadian Holders. The process is expected to use a structured intake file or broker-specific submission workflow so information can be gathered efficiently and processed in batches.
Brokers should not submit individual shareholder questions through the general support channel unless instructed. Final broker language and submission instructions will be confirmed before launch.
Reach out to s85support@taxelection.ca for technical and procedural inquiries with the Tax Election Portal, and consult your own tax advisor for advice about eligibility, forms, elected amounts, deadlines, and filing requirements.