Hi, I have a question regarding tax rate. I am a Canadian and trying to buy U.S stocks. If I gain money from stocks, I have to pay tax depending on how much profit I made? I am wondering what percentage has to go to the tax. I am going to use Questrade and I am a college student.
2007-02-05 12:22:55 · 3 answers · asked by hwoarang_rk 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
You should take a look at the Canadian US Tax Treaty. I don't think you need to pay US tax on Capital Gains. You will likely have to pay tax to Canada.
2007-02-05 12:36:47 · answer #1 · answered by smh60437 3 · 0⤊ 0⤋
You would have to pay taxes based on Canadian tax laws no matter what the country of origin was in the stock you hold. I am not sure what the Canadian capital gains tax rate is, but in the USA you would pay 15% on gains from stock sales of stocks held over 1 year.
2007-02-05 22:18:35 · answer #2 · answered by united9198 7 · 0⤊ 0⤋