by Travis Johnson, Stock Gumshoe | December 12, 2012 11:54 am
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I was waiting for some funds to clear tomorrow to buy a small position in SCPZF after reading that article a few weeks ago. Also, nice timing on suggesting brk-b for the last month or so. They had a nice jump today also. I believe this is the second time a stock has jumped after reading an article and deciding to purchase a stock! I’m hoping not to miss the boat by buying some lonr even if it takes a few years to see any progress.
As a non-resident alien (cue Star Wars them here please! :o) with a US broker, dividends suck!
Capital gains (short or long) are taxed at 0%, while US dividends are taxed 15% in foreign withholding tax. Foreign companies (be that Canadian or any other than US) like this are taxed 25% on dividends. (as are MLPs and similar partnership entities).
I would have hoped they could have grown their business with the capital instead.
The foreign withholding tax can not be refunded.
Cheers!
Your broker can supply a form that qualifies you for the 15% withholding (rather than 25%) required by the Canadian govt. You can also qualify for a tax credit for all or part of foreign withholding, depending on how many $$$ have been withheld in the tax year.
Hi Coherence,
Well, can you be a bit more specific please? – if you refer to the W8-BEN form then I have already supplied my broker with that – being the reason I get the tax agreed 15% foreign withholding tax deducted on US company dividends rather than the otherwise 30% they would take if no form in place. Unfortunately most double tax agreements have MLPs and similar partnership entities) at 25% foreign withholding tax.
Also; even if I got a tax credit; where could I credit same? I am a Dane living in Thailand and taxed in Thailand.
Cheers! Ben