RE:RE:RE:RE:RE:RE:Tip of the morning , ya all ! This website below seems credible. Appears to be an agreement between Canada and the United States regarding dividends and interest on US bonds. I interurpt it as a Canadian citizen would owe the IRA 15% on us stock and 10% on us bonds. Again I have very little experience with this, wondering about it myself.
https://www.moneysense.ca/save/taxes/filing-taxes-u-s-investments-canada/
CndnBacon wrote: I would find it hard to believe Canadian Citizens, regardless of the Jurisdiction they invest in, would owe taxes to the US, and just as unlikely a US Citizen would owe Canada taxes investing on the TSX. Dividends are a form of income, as a Canadian with a TFSA, major US indexes ar eligible to hold. Any Dividends that are paid from a TFSA qualified stock ARE Taxable as Capital Gains by CRA...we would NOT be paying Capital Gains to the IRS as Canadian Citizens, however as a Dual Citizen it gets a bit more complex.....I had to take my DC wife off the records as US IRS would want a piece of MY business...and they can pound sand
MakeItRain1 wrote: Just doing some further reading and it appears that a Canadian citizen living in Canada would owe the IRS 15% on dividends of US stocks and 10% on intrest from US bonds which I assume would be applicable to investments within a TFSA. I am not a tax expert so please seek professional advice regarding tax obligations to be sure.
MakeItRain1 wrote:
My understanding is if you are a Canadian living in the USA holding a tfsa you will owe taxes on gains. If you are Canadian living in Canada the TFSA will be tax free as long as you follow the requirements for investing under a tfsa such as not running it as a buisness for example. Can someone else confirm this ?
Mattboy wrote: Any thoughts on what exchange it would uplist to? Nasdaq maybe or just regular TSX?? I hold all my shares in this in my TFSA does anyone know how the taxation works for holding NASDAQ stocks in a TFSA I understand that you have to pay a tax to the IRS on your profits?