Guys i have monies in a high interest saving account i am wondering if i can transfer this to a 15 month GIC. Just curious if their will be some additional tax implications?
I just wanted to check if it will be problematic then i wont transfer to a GIC
Thanks
GICs
Moderator: Mark T Serbinski CA CPA
None that I can think of.
Remember with GICs -- for IRS purposes -- you do not have to declare the income until maturity (if you use cash vs. accuraul method of reporting). And Canada will not tax at source for US residents.
Remember with GICs -- for IRS purposes -- you do not have to declare the income until maturity (if you use cash vs. accuraul method of reporting). And Canada will not tax at source for US residents.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing 