Post by
DanielDarden123 on Nov 15, 2017 10:10am
Withholding Tax
It does not matter which version you hold. U.S. income is subject to w/T unless in RRSP or RRIF.
Comment by
Aminvestor1234 on Nov 15, 2017 7:06pm
Daniel: This is not entirely true. It depends on the type of income. I have a few Exchange Traded Notes (ETNs) that pay interest between 12% and 21%. None of the interest payments is subject to withholding taxes, regardless of the kind of accounts they are paid to.
Comment by
maypeters on Nov 15, 2017 7:47pm
Then it is definitely not classified as US interest income. Foreign income especially US has withholding tax - IRS makes the rules.
Comment by
Aminvestor1234 on Nov 15, 2017 8:22pm
maypeters: Under the Canada/U.S. Tax Convention, certain types of income are exempt from withholding tax, interest is one of them.
Comment by
maypeters on Nov 17, 2017 8:28pm
Agreed. But interest income not much in the distribution.