Understanding US Dividend Withholding Tax In TFSA & RRSP

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  • เผยแพร่เมื่อ 16 ต.ค. 2024

ความคิดเห็น • 126

  • @coinswaptrader2915
    @coinswaptrader2915 5 ปีที่แล้ว +19

    As a Canadian it is always better to hold ALL foreign Interest and dividend securities in your RRSP accounts and then to hold Canadian interest and dividend securities outside both your TFSA & RRSP to benefit from the Dividend Tax credit for Canadian sources we can claim in our tax returns. The best type of stocks to hold in a TFSA are mostly ONLY capital gains stocks both Canadian or foreign with the highest ROI!

    • @lukesenisi8571
      @lukesenisi8571 3 ปีที่แล้ว

      how about if my rrsp is full, than should i use non registered for us dividend stocks?

    • @coinswaptrader2915
      @coinswaptrader2915 3 ปีที่แล้ว +1

      @@lukesenisi8571 you will be exposed to a US withholding taxes on all US dividends paid to Canadian resident...unless it is in a RRSP.

    • @Spp235.
      @Spp235. 2 ปีที่แล้ว

      @@lukesenisi8571 Best to hold US dividend stocks in taxable accounts if not room in RSP/RIF. You will be able to claim US withholding taxes to reduce (generally much higher) taxes payable in Canada. So on the balance, not difference. Cdn Dividend tax credit is only advantageous at lower levels of income. At higher levels Cdn dividends attract the same marginal tax rate as employment income. So best in TFSAs.

  • @NickPeitsch
    @NickPeitsch 5 ปีที่แล้ว +24

    What a valuable video! As a Canadian investor, the withholding tax is definitely a consideration when purchasing dividend stocks.

    • @koolaidpuc
      @koolaidpuc 5 ปีที่แล้ว +1

      Investing Engineered yup he’s here too!

  • @MegsCarpentry-lovedogs
    @MegsCarpentry-lovedogs 3 ปีที่แล้ว +5

    The chart was so important for clarity on where things stand. Brilliantly well thought out to viewers. I just bought an ETF Canadian based but it has all USA pharmaceuticals hhL...in my TFSA...and voila! I thought there would be no withholding tax on the divvy yield which is about 8.5%...you educated me that this is not so and the first divvy to be shown this month will probably show the withholding tax...go figure! Glad I bought ever so small a position in it....time to rethink these ETF's.....thinking having a basket of a Canadian base ETF with USA stocks was a way around the withholding tax was a myth in my part. Keep up the wonderful education you are providing to Canadians. 🍁🇨🇦🍁

  • @eternalfizzer
    @eternalfizzer 4 ปีที่แล้ว +1

    Finally. An explanation that clears up who gets the money and what that means. Thank you.

  • @GenExDividendInvestor
    @GenExDividendInvestor 5 ปีที่แล้ว +7

    Thanks.. Re: don't let the tax tail wag the dog --- I agree to focus on the investment, first. What is your take on MLPs in various accounts given their tax headaches?

  • @PassiveIncomeTom
    @PassiveIncomeTom 5 ปีที่แล้ว +7

    Very interesting information. I live in the US and sure many Canadians invest in US stocks. 👍

  • @3vecesminombre
    @3vecesminombre 4 ปีที่แล้ว +1

    Thank you! I have been looking all over for this! As a beginner Canadian investor, I think it would be better to consider sticking with Canadian interest and dividend securities in your TFSA in the beginning.

  • @Mike-ym6rl
    @Mike-ym6rl ปีที่แล้ว +1

    Informative...thanks! What if its a Canadian company listed on the NYSE? The Company ticker, GROY. Hold in a TFSA or RRSP?

  • @wolfofdubai
    @wolfofdubai 5 ปีที่แล้ว +1

    Amazing Brandon, great video👍🏼 you was one of the important inspirations to get me out of my comfort zone to start my own financial Stock Market TH-cam Channel!

  • @AdventrureforAlan
    @AdventrureforAlan 4 ปีที่แล้ว +1

    Great video mate.... Question for you.... when we receive a dividend from either a Canadian or U.S. company, the company is paying tax on the dividend then we get the after-tax dividend amount right? We are not receiving 100% of the dividend/the pre-tax dividend amount right? If that is the case how can we find out how much company tax is paid on our dividends and thus how much of the dividend we are really receiving after company tax? And is the company tax paid on dividends the same for each company? Or does it change from company to company? Keep up the great work mate.

  • @ulyhpiga3830
    @ulyhpiga3830 2 ปีที่แล้ว +1

    Great Video and perspective.
    Do i need to file W8-BEN forms for all of my accounts to my Questrade portfolios or i just need one fill up ?

  • @richardleger4537
    @richardleger4537 2 ปีที่แล้ว +1

    What about capital gains , if you sell some stocks ? how are you taxed then still 15 % the same as dividends ?

  • @zetter4013
    @zetter4013 5 ปีที่แล้ว +1

    Yesssss!!!!!!!!!!!! I just started this video and thank you already you are awesome! Gonna start next year in US stocks so this is perfect. Thanks Brandon! You rock! Love this channel!

  • @omarrd33
    @omarrd33 3 ปีที่แล้ว +1

    This video is so valuable. Thank you so much.

  • @DeparturesCapital
    @DeparturesCapital 5 ปีที่แล้ว +1

    Love the new video and Solid topic Mr Beavis!

  • @rosejohnson7603
    @rosejohnson7603 5 ปีที่แล้ว +3

    Brandon, great video! The chart was especially helpful. Does having a TFSA-USD account change anything? And if you wanted to invest in US-listed stocks/ETFs, would it make sense to convert a "large" amount of CAD into USD once and then buy/sell US-listed stocks/ETFs in a TFSA-USD account to avoid getting hit with currency conversion costs when trading these equities? Thanks!

  • @tuanis73
    @tuanis73 2 ปีที่แล้ว +1

    sorry if this is obvious, in a TFSA, after you received the US dividend taxed, does this dividend add onto your income when filing taxes? Does the received Canadian dividend add on to your income so needs to be declared?

  • @marysmith5891
    @marysmith5891 2 ปีที่แล้ว +1

    You should have talked about whether this withholding tax ever gets reimbursed

  • @skatzz121
    @skatzz121 4 ปีที่แล้ว +1

    Thanks! This video, as well as your other videos, are fantastic. They have really helped guide me down the rabbit hole I've been on for the past few months.
    Just so I am clear, what you are saying in other words is... ETFs that are under a TFSA OR RRSP MUST track Canadian Markets and be traded in CAD$ to be tax-exempt, correct?

  • @kurts7268
    @kurts7268 3 ปีที่แล้ว +1

    You mentioned one of the cons for purchasing foreign ETF’s is there are fluctuations in the currency exchange that can be unpredictable and uncertain and can be a big contributor for when it’s time to cash out.... But there are currency Hedged ETF’s to protect from the currency fluctuations. is this correct? I also noticed that ishares ETF that you used for demonstration purposes was a Hedged fund. Can you confirm my information is correct. As I am still learning. Lots to learn.

  • @rajavignesh6139
    @rajavignesh6139 ปีที่แล้ว +1

    How is ZSP.U taxed. It is listed in TSE but in USD?

  • @lastcastproduction4030
    @lastcastproduction4030 4 ปีที่แล้ว +5

    Are Capital gains taxed for a US stock in TFSA?

  • @cloysterX418
    @cloysterX418 4 ปีที่แล้ว +1

    What about capital gains? Are those subject to tax as well?

  • @jordan240
    @jordan240 2 ปีที่แล้ว +1

    In a TFSA do I need to fill something in my tax report if I own US dividends stock or the withholding tax will just be deducted in my dividend payment? I just love the fact that I have nothing to fill right now in my TFSA

  • @georgeemil3618
    @georgeemil3618 4 ปีที่แล้ว +4

    My total TFSA withholding tax is $3.72. In my taxable account it is
    $80.82. No big deal. It would cost me more in time and effort to try to get it back. In my RRSP, I see no US withholding tax at all.

  • @papytofu3796
    @papytofu3796 3 ปีที่แล้ว +1

    What about global ETFs that are composed of canadians, us and world stocks such as VGRO, listed on the TSX? Is the dividend, which is a sum of the dividends of each stock, is calculated with 15% withheld on some stocks and not on the canadians stocks or is the dividend withheld of 15% altogether by "contamination"? I guess we're then talking about a difference of 0.000001% but just curious about the technicality. Thanks Brandon for the video!

  • @r.t.7925
    @r.t.7925 7 หลายเดือนก่อน

    Exactly what I was looking for. Thank you !

  • @MM-hw6fz
    @MM-hw6fz 3 ปีที่แล้ว +1

    Hello Brandon, I believe TSX listed EFTs does not require us to pay the withholding taxes as it is paid by the Fund Manager/asset manager. Is that true, would love to hear your opinion on it.

  • @manpreetd4967
    @manpreetd4967 3 ปีที่แล้ว +1

    Do you have to report your your U.S. dividends as well as Canadian dividends earned on your annual income tax, even though subject to a 15% withholding tax on a TFSA account? Are you then subject to double taxation especially if holding a TFSA account?

  • @koolaidpuc
    @koolaidpuc 5 ปีที่แล้ว +6

    Brandon, this is a great video! Awsome info! Why isn’t the IRS recognize the TFSA as a tax shelter account like the RRSP for canadians? That’s weird that both governments have a treaty for the RRSP but not the TFSA. There must be a valuable explanation for this. Also, are capital GAINZ exempt on the TFSA when a Canadian investor holds us equities as well in it?

    • @beaviswealth
      @beaviswealth  5 ปีที่แล้ว +3

      It’s because the RRSP is considered an actual retirement account. Whereas they recognize non-registered and TFSA more for everyday investing

    • @koolaidpuc
      @koolaidpuc 5 ปีที่แล้ว

      Brandon Beavis Investing ok. I think the IRS should review the tax system and recognize the TFSA as a tax Shelter account as well. What about capital gains? Are they subject to taxes in the TFSA when holding us equities for Canadian investors ?

    • @huyduong5716
      @huyduong5716 5 ปีที่แล้ว +2

      AK the way I see it, we Canadian mostly have the shorter end of the stick. That sucks.

    • @koolaidpuc
      @koolaidpuc 5 ปีที่แล้ว +2

      Huy Duong capital GAINZ in the TFSA are not taxed regardless if you have Canadian or us equities in it. As for dividends, apparently holding Canadian equities that generate dividends in the TFSA, you will be taxed on those dividends the same as if you held us equities that provide dividends as well. Can someone confirm ?

    • @huyduong5716
      @huyduong5716 5 ปีที่แล้ว +3

      AK holding a Canadian listed stock in a TFSA Is not subjected a 15% holding tax for the dividend.
      I have check before with the cra.

  • @SpeedandSplendor
    @SpeedandSplendor 4 ปีที่แล้ว +1

    What about DRIPS? Is the tax applied before the dividend is reinvested or is it just a shared that gets added at full value? Thanks :)

  • @toasty-toast
    @toasty-toast ปีที่แล้ว

    I'm moving to the US, Can you do an update on this with tips on RESP and how best to fund your kids education if you move, as well as LIRAs?

  • @kazzam8620
    @kazzam8620 3 ปีที่แล้ว +1

    Hi There, what about if you hold a foreign non-US stocks in your RRSP and TFSA? For example, a stock in a Tokyo Stock Exchange, which the CRA says is a designated stock exchange and is allowable to be in your RRSP or TFSA. Do you have to pay Withholding tax on Dividends on foreign non-US Stock?

  • @angelcosmos1794
    @angelcosmos1794 3 ปีที่แล้ว +2

    I have in my RRSP an ETF - VFV (in Canadian funds for S&P 500) where I receive full dividends from them each quarterly. When does the 15% withholding tax come into effect? When I sell and withdraw the amount? Am I subject to any capital gain withholding tax when I sell VFV stocks?

    • @alam917406
      @alam917406 3 ปีที่แล้ว

      No capital gain tax from RRSP, Any withdrawal from RRSP is a taxable income. No penalty if you withdraw from RRSP before retirement. RRSP useful in working years when you have a high income tax bracket.

  • @walterego4785
    @walterego4785 4 ปีที่แล้ว +1

    Hi Brandon, i have a question for you. I was wondering if you keep any of your US stocks or ETF's in your TFSA knowing that those investments are exempt from the 15% withholding and capital gains taxes? Would you say its more beneficial to max out your TFSA before your contribute to the RRSP? If so could you please explain why? Just wondering whats your thoughts on that. Thanks for your time and the info you share on your channel :)

  • @geraldineb.9204
    @geraldineb.9204 3 ปีที่แล้ว

    I've learned a lot from this video. Thanks Brandon

  • @judybil5562
    @judybil5562 4 ปีที่แล้ว

    Most helpful video on this subject! Already subscribed!

  • @cp-5628
    @cp-5628 4 ปีที่แล้ว +1

    Are all Vanguard ETFs American-listed? To your last point Brandon, does that mean that it's better to go with iShares than Vanguard since the iShares are Canadian-listed? (assuming I am correct in stating that all Vanguard ETFs are American listed)?

  • @yousufmemon4443
    @yousufmemon4443 4 ปีที่แล้ว +1

    Hi, Brandon , Do Canadian Citizen upon receiving dividend after deduction of withholding tax from US listed company , have to have USA Social Security Number for reporting of withholding tax amount to IRS, or, there is no need to have USA Social Security Number, and the the withholding tax so deducted in USA is treated as foreign ( non resident ) tax payer, and no reporting is to be done to IRS, and Canadian Citizens only have to report to CRA the dividend and withholding tax so received from USA listed company. KINDLY REPLY.

  • @deepugaught3148
    @deepugaught3148 4 ปีที่แล้ว

    Very informative video Brandon. thnx for sharing. If I receive dividends in my RRSP account and Am I able to use them? or how it works. thanks

  • @NavjotSinghpatiala
    @NavjotSinghpatiala 8 หลายเดือนก่อน

    Very good to the point and with clarity

  • @alexnezhynsky9707
    @alexnezhynsky9707 4 ปีที่แล้ว +1

    What about international stock? Do you get the ~12% tax waived if you hold it in RRSP instead of TFSA? Or does it vary between countries?

  • @ozeXpress
    @ozeXpress 4 ปีที่แล้ว +2

    Since there is a withholding tax on US dividends. Don’t we technically get it back once we convert it to CAD currency? Since our dollars worth less ? Also does withholding tax mean it is automatically done or do I have to claim it or something ? PLEASE HELP!

    • @dfreak666
      @dfreak666 4 ปีที่แล้ว

      For your question about getting it back upon converting to CAD, I would say no because we already lost that percentage initially when converting from CAD to USD to buy the stock.

  • @themusic6808
    @themusic6808 ปีที่แล้ว +2

    One thing to consider is if you hold investments in US dollars in a TFSA or RRSP they can’t leave the account without being converted back to Canadian dollars, as both accounts are registered plans so all withdrawals and contributions have to be made in CAD. Whereas in a non registered account you could actually take investments held in USD, sell them while keeping them in US currency, and then move that money around anywheres else outside of the account still in USD. So just in case anyone wants to hold USD and use it outside of Canada like maybe buy property, purchase goods or transfer it to a foreign bank, US investments in registered plans may grow tax advantaged but you’re still going to get hammered on the exchange back to our currency if you ever want to use that money in USD cause you’d take a big loss on the converting it back to Canadian to get it out then re-purchasing American. Food for thought.

  • @The_Millennial_Investor
    @The_Millennial_Investor 5 ปีที่แล้ว +1

    How do you make your thumbnails? I always love the way you make them!

  • @kurtiswoodward5339
    @kurtiswoodward5339 4 ปีที่แล้ว +1

    Brandon, I am strictly looking to invest in stocks in which I receive a dividends at the end of each quarter or semi annually etc. I have a TFSA right now with Questrade, is it best for me to move my holding to an RRSP with Questrade? If I do this doe's it limit me withdrawing my dividends every now and then to pay bills or will I be taxed for doing so?

  • @venesaloginathin8832
    @venesaloginathin8832 ปีที่แล้ว

    Great video’ to be clear- in have VOO- in a us tfsa- if I transfer to my rsp will it go up and down based on exchange rate? If so might be better to leave it as is

  • @FFKonFire
    @FFKonFire 4 ปีที่แล้ว

    Hello quick question ... My contribution limit in TFSA is a lot more than RRSP ... (I am also interested in US Stocks > Canadian Stocks)
    Yes, I will save 15% withholding tax with RRSP. But the number of stocks ($$$) available to me would be much less than if purchased through TFSA.
    In my situation... would you rather ...
    A) Buy US Stocks via TFSA since I will be able to have more purchasing power
    OR
    B) Buy US Stocks via RRSP and accept the fact that I will not have much purchasing power

  • @MrRBond007
    @MrRBond007 3 ปีที่แล้ว

    So which of VTI, VUN, or VUS should you buy in a TFSA? Or would you change it up depending on how the CAD is doing vs the USD at the time? Let's ignore the exchange rate by doing Norbert's gambit. Is the MER a serious consideration when it's 0.03% for VTI vs 0.16% for VUN and VUS? Thanks

  • @bullet1900
    @bullet1900 4 ปีที่แล้ว +1

    Very informative.. Thanks. btw, how about CAD stocks like TD, BMO dividend?

    • @rossmacintosh5652
      @rossmacintosh5652 4 ปีที่แล้ว +1

      In a TFSA the dividends from Canadian stocks are not taxed or subject to any withholding. Watch the video again - he was saying Canadian ETFs that invest in US stocks/ETFs are subject to withholding.

  • @itsChannel2K00L14
    @itsChannel2K00L14 3 ปีที่แล้ว +1

    Seen it asked before, but does anyone know if capital gains on US holdings in a TFSA are also subject to a 15-30% withholding tax?

  • @umarb4523
    @umarb4523 4 ปีที่แล้ว +1

    Why are TSX etf stocks not exempt from TFSA accounts?

  • @MrFrozenDivine
    @MrFrozenDivine 5 ปีที่แล้ว +1

    So is the 15% withholding going to be refunded by the end of the year or somehow? or do the IRS just keep the 15%

  • @yannik9341
    @yannik9341 10 หลายเดือนก่อน

    What about mutual funds for example RBC Select Aggressive Growth in RRSP & TFSA. It is 39% US. Are there withholding taxes in the RRAP & TFSA?

  • @Dj-uy1kp
    @Dj-uy1kp 4 ปีที่แล้ว +2

    Great video!!! Are US stocks capital gain are taxed in a TFSA? What about Canadian Etf that tracks the S&P 500?Where is the best account to keep US stocks(No dividend) if I need them in 5 years? Thank u!!

  • @joaquinsalvador3133
    @joaquinsalvador3133 2 ปีที่แล้ว

    How about if you have a Canadian LIRA with US stock, do you have to pay withholding tax in the USA?

  • @learnerinfinance
    @learnerinfinance 8 หลายเดือนก่อน

    What about withholding tax in FHSA? Thank you!

  • @xxIndridcold99xx
    @xxIndridcold99xx 4 ปีที่แล้ว

    Hi Brandon ! If I’m in the state’s and buying BMO am I going to receive a withholding tax ?

  • @timetoaxe
    @timetoaxe 4 ปีที่แล้ว

    Great video. What happens if I see my US Stocks / ETFs ? Does this 15% is applicable on that too ?

  • @huyduong5716
    @huyduong5716 5 ปีที่แล้ว +3

    90% of my stocks in my TFSA are US stock. Lol.
    1) transfer $5000+ cnd. To TSFA
    2) do the Norbert gambit strategy. To reduce the conversion fee.
    3) buy US paying dividend stocks.

    • @cappuccino2901
      @cappuccino2901 3 ปีที่แล้ว

      I am 19, I have around 10K$ and I wanna start investing, so buying US stocks in your TFSA is fine ?

    • @huyduong5716
      @huyduong5716 3 ปีที่แล้ว

      @@cappuccino2901 👍

  • @dandaan
    @dandaan 5 ปีที่แล้ว +1

    I really appreciate this. Thanks

  • @costantinomongelli4169
    @costantinomongelli4169 4 ปีที่แล้ว

    Good morning Brandon, thank you for this helpful video. I do have a question which I could not concretely find an answer for in the linked documents., Would I be subject to the US withholding tax on Canadian companies inter-listed on US exchanges that I own in my TFSA?

  • @dorothyloney8479
    @dorothyloney8479 9 หลายเดือนก่อน

    I have NonResidentTax being withheld on dividends from DMLP, Texas in an RRSP account. I will pay tax again when I withdraw funds from my RRSP. If we have a treaty, is there anything I can do about this one?

  • @parksol6261
    @parksol6261 4 ปีที่แล้ว

    Hey Brandon Thanks for the Great Video! I just started investing in stocks and Got a question for ya. I have registered TFSA account with questrade, and I'm looking to buy "Non Dividend US stocks", do I still need to pay taxes?

    • @sousavann
      @sousavann 4 ปีที่แล้ว

      No, u dont pay taxes on cad div stocks on ur tfsa.

  • @cryptozer8801
    @cryptozer8801 4 ปีที่แล้ว

    Thank you for this, very well done!

  • @Slickpete83
    @Slickpete83 5 ปีที่แล้ว +2

    so who do u pay the US dividend tax to when you hold vsp.to in your TSFA account , u never get any print out forms for TSFA in your brokerages during tax time ??

    • @beaviswealth
      @beaviswealth  5 ปีที่แล้ว +7

      You receive 15% less of your dividend. No need to pay they already take it off before it gets to you

    • @Slickpete83
      @Slickpete83 5 ปีที่แล้ว +1

      @@beaviswealth thanks 👍 for the info

    • @madmantrader
      @madmantrader 5 ปีที่แล้ว +2

      @@beaviswealth well thats good that you have to do no paperwork then!!!

    • @alexnezhynsky9707
      @alexnezhynsky9707 4 ปีที่แล้ว +1

      @@madmantrader Is that true though? The tax itself is 30%. It only goes down to 15% because of a treaty. So do you have to file anything to IRS to get it reduced, or do they charge 15% from the get go?

  • @vwoosh4987
    @vwoosh4987 7 หลายเดือนก่อน

    I know it's an old video, but would HDIF have withholding tax on the entire dividend? Or a % amount due to cover calls and a mix of canadian holdings?

    • @vwoosh4987
      @vwoosh4987 7 หลายเดือนก่อน

      And would Harvest or the CRA provide anything that says how much is subject?

  • @Tobi_Jones
    @Tobi_Jones 4 ปีที่แล้ว

    So if you are buying US stock that does not pay dividends, for the taxes, does not matter if it is a TFSA or RRSP account?

  • @KatriceJustice
    @KatriceJustice 3 ปีที่แล้ว

    This is soooo helpful!

  • @huyduong5716
    @huyduong5716 5 ปีที่แล้ว +1

    So. I bought international stock, ex. Like BTI. There will be a 15% holding tax because it’s listed in the US stock plus a 12% holding tax on top of the 15% because it’s international stock. 🤔🤔, we Canadian sure get the shorter end of the stick don’t you think? Lol.

    • @alexnezhynsky9707
      @alexnezhynsky9707 4 ปีที่แล้ว

      I suppose, not if you buy foreign equity in CAD on TSX. Though you will typically pay higher MER compared to the US equivalent

  • @Manofsteel519
    @Manofsteel519 5 ปีที่แล้ว

    Currently fluctuations affect Canadian listed foreign etfs as well. You make it sound like it doesn’t

  • @jigneshanjara946
    @jigneshanjara946 3 ปีที่แล้ว

    Awesome video, bro.

  • @augustuscaesar5291
    @augustuscaesar5291 3 ปีที่แล้ว

    So how do I pay this tax, and do I need to talk to someone?

  • @clarifyingquestions
    @clarifyingquestions 3 ปีที่แล้ว

    If I buy a NON dividend ETF ie Arkk in my RRSP, will I be taxed 15%.

  • @kurts7268
    @kurts7268 3 ปีที่แล้ว

    Excellent video

  • @bakdjkafgs
    @bakdjkafgs 4 ปีที่แล้ว

    RRSP - Dividend tax. = USA dont have to pay Dividend TAX, Pay on CAN stocks n ETF, But how about when i file my taxes when i decide to take out RRSP. I get taxed on my Dividends? 15-30%
    TFSA - Dividend tax = CAN + USA. = 15% USA and 15 % CAN?

  • @DISTURBEDSAS
    @DISTURBEDSAS 4 ปีที่แล้ว

    Wouldnt XUS be a better option?

  • @rh353
    @rh353 4 ปีที่แล้ว

    So Canadian ETF divdends are taxed no matter what (whether it's in TFSA or RRSP)???

  • @raymond2206
    @raymond2206 5 ปีที่แล้ว

    👏👏👏very helpful!!!

  • @MrMadanibarry
    @MrMadanibarry 4 ปีที่แล้ว

    Hi, how much does the Canadien Government taxes afterwards?!

  • @philxue
    @philxue 5 ปีที่แล้ว

    Hey brandon. What if i have a canadian holding corporation and invests in index funds such as XSP?

    • @beaviswealth
      @beaviswealth  5 ปีที่แล้ว +1

      Corporate account would likely be considered non-registered - taxes apply

  • @hermes8258
    @hermes8258 7 หลายเดือนก่อน

    I like to keep things simple and in my best financial interests, ideally paying no tax to any government, at least in my TFSA. Is there a way of screening ETFs so that there are no surprises? Maybe it is better (or worse?) to have a trading account in a jurisdiction with no tax treaty with Canada?
    Why does this even exist - revenue? If I go to Japan and buy a camera, when I present my passport I am not charged sales tax. So, what is the rational to charge income tax to foreigners (e.g. Canadians) before even knowing whether they are in an income rax braket where they pay any raxes and if they do, at what rate?
    Is the reverse also true - Americans get charged tax on their earnings in Canada? This of course begs the question what legal strategies are there to have a trading account in tax-free jurisdictions or maybe setting up a legal entity that is tax-free. If billionaires like Trump can do it there might be methods for the little guy also.
    Frankly, I don't understand the legal and ethical reasons for charging taxes unless something is provided in return. Is this to pay for the SEC?
    The term 'withholding' tax sounds disingenuous to me. It reminds me of when Customs officials in Indonesia taxed me for bringing in video equipment. They told me I would get it back. I never did. figure if any tax is automatically taken off it should be automatically given back. Otherwise the burden is on the taxpayer to spend his time filling out forms. Time is money.

  • @alanmacleod2669
    @alanmacleod2669 4 ปีที่แล้ว

    Why are dividends of a Canadian listed ETF held in a RRSP subject to 15% with holding tax? We are constantly told that a RRSP is tax free.... you are saying a RRSP is not entirely tax free..... that you will still pay 15% tax on dividends from a Canadian listed ETF in a RRSP?
    Also, is this 15% tax only for Canadian ETFs that hold US stocks, held in a RRSP? Or are all Canadian listed ETFs in a RRSP are subject to 15% tax? What about if I hold a Canadian listed ETF that only hold Canadian stocks in my RRSP?
    And finally, in regards to TSFA, we are constantly told that only dividends from US stocks and US ETFs are tax at 15% and that dividends from Canadian stocks and ETFs are not subject to 15% tax but in your video it says in a TSFA dividends from a Canadian ETF are subject to 15% tax... so which is it, very confused, please clarify, thanks

  • @tingotingoting
    @tingotingoting 3 ปีที่แล้ว

    How about RESP?

  • @KOTNEmpire
    @KOTNEmpire 3 ปีที่แล้ว

    Are you taxed in Canada on ROC paying US stocks in a cash account?

  • @georgeemil3618
    @georgeemil3618 4 ปีที่แล้ว +1

    Let's put it this way. Somebody has to pay for that wall.

  • @user-tj3fw1nh8g
    @user-tj3fw1nh8g 4 ปีที่แล้ว

    PWL capital!!! Where’s my boy Ben felix at ? :’)

  • @alam917406
    @alam917406 3 ปีที่แล้ว

    Well explained, Thanks Brandon,,
    No capital gain tax from RRSP, Any withdrawal from RRSP is a taxable income. No penalty if you withdraw from RRSP before retirement. RRSP useful in working years when you have a high income tax bracket.

  • @hobbies222
    @hobbies222 5 ปีที่แล้ว +2

    I made a lot of money on AMD on my TSFA I wondering if it going to bit me in the ass

    • @rossmacintosh5652
      @rossmacintosh5652 4 ปีที่แล้ว +2

      Cyberworld, it shouldn't be. AMD currently pays no dividend so that withholding tax doesn't apply. If they start paying a dividend it may still seem inconsequential to you. Let's say they start paying a $1 yearly dividend. With the withholding, what would happen is your TFSA brokerage statement would account for your receiving a $0.85/share dividend. You don't need to do anything. It just is what it is. Also on most growth stocks, like AMD, when they do pay a dividend they tend to be quite small and most of the stocks' returns come from the stock price and not their dividend income.

  • @dylongarrett4779
    @dylongarrett4779 5 ปีที่แล้ว +4

    *dont let taxes influence your investing decisions* 🤙🤙

  • @Manofsteel519
    @Manofsteel519 5 ปีที่แล้ว +2

    Why not compare voo to vfv?

    • @carolynkingdon5139
      @carolynkingdon5139 5 ปีที่แล้ว

      I agree. Brandon, do you think TSX is comparable to VFV?

    • @Manofsteel519
      @Manofsteel519 5 ปีที่แล้ว

      @@carolynkingdon5139 vfv is a s&p 500 index ETF. Not the tsx index

    • @huyduong5716
      @huyduong5716 5 ปีที่แล้ว +1

      What about VGRO etf. That also have US and international holding in it, which mean the dividend tax is it 15% or 27%?

  • @deanoudhini7292
    @deanoudhini7292 4 ปีที่แล้ว

    I apprecite the vidThx

  • @_jdfx
    @_jdfx 4 ปีที่แล้ว

    TLDR: put them in your RRSP. that is all, no need for a 10min video.

  • @FrederickFIintstone
    @FrederickFIintstone ปีที่แล้ว

    Does this also apply to the FHSA?