Hi,
I am at this moment a Canadian resident. I am contributing to my DRIPs, besides my TFSA and RRSP (which i know won't be taxed if i leave Canada in the future).
I plan to go back and live in my home country in the next couple of years. If i leave, i know i have to stop all contributions to all my investments.
1) Does anybody know how will DRIPs be taxed if i decide to leave Canada? Is there anything I can do to minimize the "damage"? I know Canada takes a departure tax, on all your investments (they will be virtually sold and taxes withheld for the capital gain), but i am not sure about the DRIPs. Should i stop the contribution to them?
2) Then how i will get monthly payments from these DRIPs while out of Canada?
Thanks much for any information.
I am at this moment a Canadian resident. I am contributing to my DRIPs, besides my TFSA and RRSP (which i know won't be taxed if i leave Canada in the future).
I plan to go back and live in my home country in the next couple of years. If i leave, i know i have to stop all contributions to all my investments.
1) Does anybody know how will DRIPs be taxed if i decide to leave Canada? Is there anything I can do to minimize the "damage"? I know Canada takes a departure tax, on all your investments (they will be virtually sold and taxes withheld for the capital gain), but i am not sure about the DRIPs. Should i stop the contribution to them?
2) Then how i will get monthly payments from these DRIPs while out of Canada?
Thanks much for any information.
