CEN-TA Cross Border Services - Tax, Visas, Immigration: 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.
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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 in any particular circumstances. No contract exists between the reader and the author and any and all non-contractual duties are expressly denied. All readers should obtain formal advice from a competent and appropriately qualified legal practitioner or tax specialist for expert help, assistance, preparation, or consultation

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