You opened an account with Scottrade and you pay a 10 % withholding tax- what does that mean? Do you pay 10 per cent on profits after you sell? Are there other fees you have to pay as a Canadian?
Thanks Dave.
Dave wrote:Hi, we've been out of Canada coming up to ten years now and all that's been said so far is accurate. Here are a few more things:
Credit Rating: I just found out that we have no credit rating even though we paid off two houses and held numerous credit cards and lines of credit over the years. If you can lease your home at arms length and keep the mortgage payments etc. going then that helps a lot when you try to get another mortgage at a later date.
Investments: We're in China now and were able to set up a brokerage account with Scottrade in the U.S. - there is only a 10% withholding tax rather than 25% in Canada.
That's about it - enjoy life overseas.