Q: Any concerns about holding BN or BAM in a non registered portfolio including after the BAM move to US?
5i Research Answer:
The circular on the move is not yet available, but a domicile move is typically a capital transaction and thus the shares will have been considered 'sold' even though there is no change in ownership or share structure. If BAM becomes a fully US company its dividends will likely incur withholding tax. That being said, in many of Brookfield's prior restructurings the company has offered ways around a tax hit (deferral) by offering exchangeable shares. But we do not have any details on this yet.