New Flyer wins First Place and Grand Prize Award in APTA's 30th Annual AdWheel Awards competition in the category of Special Event/ Public Relations/Awareness Special Event for its Earth Day Awareness Campaign.


New Flyer's Garden of Giving was planted on May 25, 2009 at the Winnipeg headquarters. Produce was donated to a local charity.
On August 11, 2009 New Flyer participated in the construction of several homes as part of Habitat for Humanity Adopt A Day Program in Winnipeg, Manitoba.


March 23, 2009

Certain holders of New Flyer’s income deposit securities (“IDSs”) have requested information regarding the status of New Flyer Industries Inc. as a “qualified foreign corporation” for purposes of the rules in the U.S. Internal Revenue Code of 1986, as amended, relating to reduced rates of tax applicable to dividends received from such corporations.

Under current legislation, which is scheduled to “sunset” at the end of 2010, dividend income (i.e., the portion of any distribution on the IDS allocable to the common share (the “Common Share”) of New Flyer Industries Inc. (“NFI”) and treated as a dividend for U.S. federal income tax purposes) generally will be taxed to non-corporate U.S. Holders (as defined below) at the rates applicable to long-term capital gains, provided that NFI is a “qualified foreign corporation,” the Common Share is held for a minimum holding period, and other requirements are satisfied.  In the absence of intervening legislation, dividends received by a U.S. Holder after 2010 generally will be taxed to such holder at ordinary income rates.

A qualified foreign corporation includes a non-U.S. corporation that is eligible for the benefits of an income tax treaty with the United States, if such treaty provides for an exchange of information program and the United States Treasury Department has determined that the treaty is satisfactory for purposes of the legislation.  The United States Treasury has determined that the Convention between the United States of America and Canada with respect to Taxes on Income and on Capital (the “Canadian Treaty”) meets these requirements, and it is expected that NFI will be eligible for the benefits of the Canadian Treaty.  Therefore, management believes that NFI should be a qualified foreign corporation for these purposes.

 A “U.S. Holder” means a beneficial owner of an IDS that, for U.S. federal income tax purposes, is: (1) an individual who is a citizen or resident of the United States; (2) a corporation (or other entity taxable as a corporation for U.S. federal income tax purposes) created or organized in or under the laws of the United States or of any political subdivision thereof; (3) an estate, the income of which is subject to U.S. federal income taxation regardless of its source; or (4) a trust (i)(a) the administration over which a court within the United States can exercise primary supervision and (b) all of the substantial decisions of which one or more United States persons have the authority to control or (ii) that validly elects to be treated as a United States person for U.S. federal income tax purposes under applicable U.S. Treasury Regulations.

This discussion is not exhaustive of all possible U.S. federal income tax considerations applicable to an investment in the IDSs.  In addition, this discussion does not address all of the tax considerations that may be relevant to certain types of investors subject to special treatment under U.S. federal income tax laws.  This discussion is of a general nature only and is not intended to be legal or tax advice to any holder of the IDSs, and is not a substitute for careful tax planning and advice.  Holders of the IDSs should consult their own tax advisors in determining the application to them of the U.S. federal income tax laws to their particular situations, as well as any tax consequences arising under any other U.S. federal, state, local, foreign or other tax laws from the purchase, ownership and disposition of the IDSs.

IRS Circular 230 Disclosure

TO ENSURE COMPLIANCE WITH U.S. INTERNAL REVENUE SERVICE CIRCULAR 230, HOLDERS OF IDSs ARE HEREBY NOTIFIED THAT:  (A) ANY DISCUSSION OF U.S. FEDERAL TAX ISSUES HEREIN IS NOT INTENDED OR WRITTEN TO BE USED OR RELIED UPON, AND CANNOT BE USED OR RELIED UPON BY SUCH HOLDERS, FOR THE PURPOSE OF AVOIDING PENALTIES THAT MAY BE IMPOSED ON SUCH HOLDERS UNDER THE U.S. INTERNAL REVENUE CODE; (B) SUCH DISCUSSION WAS WRITTEN IN CONNECTION WITH THE PROMOTION OR MARKETING (WITHIN THE MEANING OF IRS CIRCULAR 230) OF THE IDSs OR OTHER MATTERS ADDRESSED HEREIN; AND (C) EACH HOLDER OF AN IDS SHOULD SEEK ADVICE BASED ON ITS PARTICULAR CIRCUMSTANCES FROM AN INDEPENDENT TAX ADVISOR.