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rfj1862

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rfj1862

Re: biomund post# 342

Friday, 10/26/2007 3:27:37 PM

Friday, October 26, 2007 3:27:37 PM

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Hi Biomund,

I asked my accountant this question.

The Canadians withhold 15% from your distribution. So the amount that you receive monthly is reduced by 15%. However, 100% of this withholding can be recovered (for taxable accounts) by filing for a foreign tax credit at the end of the year.

If held in an IRA, the Canadian tax is not recoverable.

Also, Canroy dividends are qualified for the 15% rate.
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