Post #912 by tecmo on the Macroeconomic Trends and Risks board

Personal Finance Topics / Macroeconomic Trends and Risks

Unthreaded | Threaded | Whole Thread (5)

Post New | Post Reply | Report Post | Recommend It!

No. of Recommendations: 2

Not sure where else to post this:

https://www.edwardjones.ca/ca-en/market-news-insig...

While Canada has a tax treaty with the United States, under the proposed legislation, Canadians and Canadian business could see a reduced realized after-tax return on U.S. income producing assets.

Under the current treaty, the withholding tax rate on individuals is reduced from 30% to 15% in certain accounts such as a non-registered account, tax-free savings account or first home savings account. For a registered retirement savings plan or registered retirement income fund, the withholding tax is reduced to 0%. Canadian businesses also see a benefit when earning dividends from their U.S. subsidiaries. Currently, the withholding tax rate that they pay is 5%.

The proposed bill would see the withholding tax applied to individuals and businesses increase by 5% per year until the rate reaches 20% above the statutory rate of 30%.

tecmo
...

Post New | Post Reply | Report Post | Recommend It!

Print the post

Unthreaded | Threaded | Whole Thread (5)

Prev | Next

Announcements

Macroeconomic Trends and Risks FAQ

Contact Shrewd'm
Contact the developer of these message boards.

A community forum supporting civilized, and highly helpful, self-educating investors that come together for Shrewdness and merry spirits. These message boards closely follow the look and feel of the old message boards at boards.fool.com prior to the boards redirected to discussion.fool.com. Shrewd'm is not affiliated with the comprehensive and excellent investment website, The Motley Fool (TMF), in any way. The Shrewd commmunity here has owed, and continues to owe, gratitude to The Motley Fool for nurturing a culture of jovial irreverence towards Wall St, and that tradition will continue here.