Q: Because of recent tax rules, US citizens are restricted in the amount of money they can keep in other countries unless they have $$$ to pay international tax accountants.
Neither can they cost effectively own ETFs, REITS, trusts, mutual funds, etc.--again due to arcane rules and draconian penalties for non-compliance.
Therefore, I can buy only a small number of stocks in Canada, and I would hope to hold them for long periods for fewer tax reporting complications from buying and selling.
Would you see enough potential, without overdoing risk, for a portfolio of such stocks, totaling no more than 120k to purchase? Could a yield of 3 to 5% be achievable?
On top of all this, there is no telling when new rules may be composed that make owning ANY stocks in Canada prohibitive, so I have to be prepared to sell whenever they make such a change. For example, we had to sell our TFSAs and ETFs swiftly upon being alerted to the current restrictions.
Thank you for any response.
Neither can they cost effectively own ETFs, REITS, trusts, mutual funds, etc.--again due to arcane rules and draconian penalties for non-compliance.
Therefore, I can buy only a small number of stocks in Canada, and I would hope to hold them for long periods for fewer tax reporting complications from buying and selling.
Would you see enough potential, without overdoing risk, for a portfolio of such stocks, totaling no more than 120k to purchase? Could a yield of 3 to 5% be achievable?
On top of all this, there is no telling when new rules may be composed that make owning ANY stocks in Canada prohibitive, so I have to be prepared to sell whenever they make such a change. For example, we had to sell our TFSAs and ETFs swiftly upon being alerted to the current restrictions.
Thank you for any response.