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Help: My Canadian stock pays a U.S. dividend
2016-04-02 16:08:25| Chemicals - Topix.net
Quite a few Canadian companies listed on the Toronto Stock Exchange declare dividends in U.S. dollars, including Magna International Inc., Brookfield Asset Management Inc. and Algonquin Power & Utilities Corp. What are the tax implications of owning these stocks? Do they qualify for the dividend tax credit? Must I report the income as converted to Canadian dollars or do banks do that? Canadian-listed companies that derive a big chunk of their revenue in U.S. dollars often choose to pay dividends in U.S. currency.
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Category:Chemicals