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To: RWS who wrote (52764)11/1/2005 1:40:21 PM
From: chowder  Respond to of 206201
 
Any excuse will work for me to lock in profits.

dabum



To: RWS who wrote (52764)11/1/2005 1:41:01 PM
From: CommanderCricket  Respond to of 206201
 
None - the credit off sets the taxes paid in Canada. You still have to pay US taxes on your gains (taxed as distributions from a MLP).

It is a problem for CANROY's in a US IRA account as these accounts do not allow you to take an offsetting credit.

Michael



To: RWS who wrote (52764)11/1/2005 1:54:00 PM
From: Tommaso  Respond to of 206201
 
If Canada decides to collect more than 15% from U.S. citizens, you cannot use the excess as a credit. For Canada to do that would violate the tax treaty with the U. S., but then we are violating the NAFTA treaty in putting tariffs on Canadian lumber.