non-resident taxes for Canadian in South Korea -
QUESTION:
Hello, I'm a
registered non-resident Canadian living and
working in South Korea.
I've been a non-resident for
about 8 years now and about 3 years ago
I opened up an
account at Canaccord Capital, Vancouver so I could
build
up a portfolio of mining stocks. Hypothetically, if I was
to
make a million dollars and cash out, my Canadian
>
stockbroker said he could send the million dollars (minus
> his
commissions of course) to me in Korea without taking
> any tax off. My
broker said he could send the full amount
> but he couldn't answer any
questions related to my tax
> liability in Canada. So my question is, 'do
I have to pay
> taxes on profits made on Canadian stock exchanges as a
> Canadian non-resident living in South Korea. If I have to
> pay
substantial taxes, is there anything I can legally do to
> reduce these
taxes? Thank you.
>
>
_________________________________________________________________________
david
ingram replies
Non-residents of Canada do NOT pay tax on profits
in the trading of Publicly
Traded shares on Canadian Stock
Exchanges.
Non-residents of the US do NOT pay tax on profits
in the trading of publicly traded shares on US stock exchanges UNLESS they are
US citizens..
However, if you were to be participating in seed
shares of a private corporation, the profits would be
taxable.
____________________________________________________________________________
David
Ingram's US / Canada Services
US / Canada / Mexico tax, Immigration and
working Visa Specialists
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Disclaimer: This question has been answered without
detailed information or consultation and is to be regarded only as general
comment. Nothing in this message is or should be construed as advice
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should obtain formal advice from a competent and appropriately qualified legal
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