ouzal Posted April 15 Report Share Posted April 15 Hello, I had bought shares in a foreign company I was working for before immigrating to Canada. the buying was done by many employers as it was an incetive proposed by the company for employers, is that considered a mutual fund ? these shares are generating dividends that are reinvested in the same plan, so I never touched the interests from thes shares, should I declare these dividends as foreign income? or no since they never left the stock plan? if they should be declared, how do I calculate the income value to report? I also have what seems to be a foreign life insurance: it's a policy where I deposit an amount of money each month, and the fund increases in value with interests, but I have to wait at least 8 years from date of underwriting in order to withdraw the money in order to benefit fully. so if this is a life insurance, then basically I don't touch the interests because they are always injected within that policy. are these interests considered foreing income that I should declare even that I don't benefit during that tax year? if yes, how to calculate the interest? and I have foreign saving accounts,one in my name and one in my 9 years child name, both accounts generate interest, but since this interest is instantly available, then it is to be declared, but I only know the net interest that hits my account every 3 or 4 months, I asked the foreign banks and they don't issue the gross interest figures, as it's not usual in that country. since I assume what should be declared is the gross interest not the net one. and since the values are not very big (we are speaking of around $500 interests for the whole year) is it safe to just charge that net interest by 30% or 40%, which is the tax rate on saving accounts interests in that country? thank you Quote Link to comment Share on other sites More sharing options...
Geo123 Posted April 16 Report Share Posted April 16 Hello ouzal, Please consult a tax advisor or contact the CRA at 1-800-959-8281 CRA https://www.canada.ca/en/revenue-agency/corporate/contact-information.html Quote Link to comment Share on other sites More sharing options...
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