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Canadian holding US equities - Tax question


ourkid8
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Hi guys,

 

I currently have quite a bit of US equities in my non registered account with TD Waterhouse.  It seems I am getting double taxed on the dividend payments I receive. A few questions I have:

 

  • How do you avoid and/or minimize the withholding tax?
  • How do  you avoid and/or minimize the dividend amount added to my income as it will be taxed at my income tax rate

 

In the next couple of years my dividend income will push me into the next tax  bracket so what are other suggestions other people have? 

 

Let me know...

 

Thanks,

 

S

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Hi guys,

 

I currently have quite a bit of US equities in my non registered account with TD Waterhouse.  It seems I am getting double taxed on the dividend payments I receive. A few questions I have:

 

  • How do you avoid and/or minimize the withholding tax?
  • How do  you avoid and/or minimize the dividend amount added to my income as it will be taxed at my income tax rate

 

Transfer your US dividend paying stocks into your RRSP.  If there are other strategies, I am not aware of them.

 

In the next couple of years my dividend income will push me into the next tax  bracket so what are other suggestions other people have? 

 

If you earn only a little bit more income then this is a total non-event. I'm not sure if this is clear to you, but only your marginal income over above the higher income bracket is taxed at the higher rate.  If I have misunderstood your question then please clarify by adding more details.

 

 

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