Why we will not pay canadian tax when we see disrribution from (RA) Brookfield Imo
"Such withholding tax rate may be reduced under an applicable tax treaty. UNITHOLDERS ELIGIBLE FOR THE EXEMPT RATE A) Currently, a portion of the trust distributions not subject to SIFT tax are being derived from sources outside of Canada, and, consequently, exempt from Canadian withholding tax when made to any Unit holder who is: (i) a non-resident of Canada for tax purposes; (ii) a "resident" of the United States for the purposes of the Canada – United States Income Tax Treaty; and (iii) a "qualifying person" for the purposes of the Treaty, so as to be entitled to benefits thereunder, at a 0% rate. Please refer to Canada TaxInfo for a definition of U.S. Residents." 1/25/2024 effective https://www.dtcc.com/.../Files/pdf/2024/1/2/19458-24.pdf... DTCC.COM www.dtcc.com
Accumulation of Interest Payments is Very Expensive.
Think; interest on penalties payments. This is akin to compound interest, not compound interest and it’s not simple interest.
THJMW has set the Precedence in a previous ruling. Interest on the penalty is additive to the next payment.
I’m confident that JPM and BoA are doing the math on a settlement point because of the accumulation of interest payments is getting painful.
LIBOR is all about settling the Derivative Market Meltdown of 2008 when the Derivative Contracts writer’s ran out of money to cover the ABS insurance contacts. This market was based on the LIBOR interest rates that JPM, BoA and friends manipulated. A criminal offense.
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