- BMO S&P 500 Index ETF (ZSP)
- BMO S&P 500 Index ETF (ZSP.U)
- Vanguard S&P 500 ETF (VOO)
- Vanguard Total Stock Market ETF (VTI)
Q: In reading Jason Heath's article in the Moneysaver he comments that there is no US withholding tax on US ETF's held in an RRSP, but there is withholding tax on the Canadian equivalent. I am in the process of rearranging our RRIFS and have been switching to more ETFs, including US based ones. Many ETFs have both a Canadian dollar and a US dollar version of the same fund. For convenience, to avoid opening a US dollar RRIF component, I elected to go with the Canadian equivalent.
Does the withholding tax also apply to RRIFs as well as RRSPs. If so it follows that perhaps I should convert a portion of our RRIF to US dollars and then purchase the US based ETFs in that account. It is not difficult to do, just a bit inconvenient.
Your thoughts please.
Russell
Does the withholding tax also apply to RRIFs as well as RRSPs. If so it follows that perhaps I should convert a portion of our RRIF to US dollars and then purchase the US based ETFs in that account. It is not difficult to do, just a bit inconvenient.
Your thoughts please.
Russell