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Am I correct in thinking the broker would issue a T5 showing dividends paid as ordinary income along with the amount of US withholding tax taken?

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For ETFs listed on a Canadian exchange (eg. VUN, XUS, XUU, VFV) your broker will issue a T3. Dividends paid will be in Box 25, Foreign non-business income, which will be taxed as ordinary income. Withholding tax will be in Box 34, Foreign non-business income tax paid. This amount will create a non-refundable tax credit.
Statement of Trust Income Allocations and Designations (canada.ca)

For ETFs listed on a US exchange (eg. VTI, IVV, VOO) I think your broker will issue a T5. Tax treatment is similar to above except the relevant boxes are 15 and 16. Maybe someone can confirm since I am a little rusty on US domiciled ETFs
Statement of Investment Income (canada.ca)
 

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For ETFs listed on a US exchange (eg. VTI, IVV, VOO) I think your broker will issue a T5. Tax treatment is similar to above except the relevant boxes are 15 and 16. Maybe someone can confirm since I am a little rusty on US domiciled ETFs
@l1quidfinance

I hold a US ETF and I got a T5 from my broker, exactly as @GreatLaker said

It shows box 15 (Foreign Income) and box 16 (Foreign tax paid) for the 15% withholding. The T5 slip also has a currency code showing these amounts are in USD.
 

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I actually find American ETFs easier to deal with than Canadian ones.

No reinvested distributions, no wacky T3s which arrive at the last moment.
 
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