Canada is similar, I can claim the with holding tax of 15%, this is not really a tax and I’m not certain Canada will let me deduct it. It’s a 10% fee on the sale, the IRS just started it Jan 2023.
I’ve had a couple of discussions with my broker, howler I won’t be buying any LP’s anytime soon. Will affect all non residents of USA, regardless the country they live in, at best I can claim it as a 10% broker fee, but not certain.
As a Canadian I have to stay away from any LP, the US initiated a fee in Jan 2023 and they take 10% of the sale value on any LP product, just sold some ET preferred, only had a small position, but its a preferred, paid 8 or 9% div annually. Of course a piece of the DIV is sliced off for tax, BUT I sold my position of 200 shares around $4900, I might even have had a small cap loss. Exactly 10% was taken, and as far as I can determine I can not get it back...and probably cant even deduct it off my Canadian taxes...
Hmmm. Canadian laws-which I nothing about are quite punitive then. In U.S. law, I can- and do buy div paying companies based in Canada. Canada keeps 15%-I think, but I can claim back on U.S. taxes. Thanks for wising me up here. Cheers
Canada is similar, I can claim the with holding tax of 15%, this is not really a tax and I’m not certain Canada will let me deduct it. It’s a 10% fee on the sale, the IRS just started it Jan 2023.
I’ve had a couple of discussions with my broker, howler I won’t be buying any LP’s anytime soon. Will affect all non residents of USA, regardless the country they live in, at best I can claim it as a 10% broker fee, but not certain.
As a Canadian I have to stay away from any LP, the US initiated a fee in Jan 2023 and they take 10% of the sale value on any LP product, just sold some ET preferred, only had a small position, but its a preferred, paid 8 or 9% div annually. Of course a piece of the DIV is sliced off for tax, BUT I sold my position of 200 shares around $4900, I might even have had a small cap loss. Exactly 10% was taken, and as far as I can determine I can not get it back...and probably cant even deduct it off my Canadian taxes...
Hmmm. Canadian laws-which I nothing about are quite punitive then. In U.S. law, I can- and do buy div paying companies based in Canada. Canada keeps 15%-I think, but I can claim back on U.S. taxes. Thanks for wising me up here. Cheers