Canada: Reminder : REITs Taxation
Customers of Clearstream Banking1 are reminded that income distributions on Canadian Real Estate Investment Trusts (REITs) and certain other types of Canadian-issued securities are generally subject both to Canadian withholding tax on the full distribution (including the foreign-sourced component) and to foreign withholding tax on the foreign-sourced component of the distribution.
Impact on customers
In these circumstances and according to the structure of certain Canadian REITs, double taxation may be applied on the foreign-sourced component of a Canadian REITs distribution.
However, non-residents of Canada may be eligible, based on their individual circumstances, to apply, using the standard procedures via Clearstream Banking, for a tax reclaim of the Canadian non-resident withholding tax applied on the foreign-sourced component.
Further information
For further information, customers may contact the Clearstream Banking Tax Help Desk on:
| Luxembourg | Frankfurt | Singapore | |
| Email: | tax@clearstream.com | tax@clearstream.com | tax@clearstream.com |
| Telephone: | +352-243-32835 | +49-(0) 69-2 11-1 3821 | +65-6597-1665 |
| Fax: | +352-243-632835 | +49-(0) 69-2 11-61 3821 |
or Clearstream Banking Client Services or their Relationship Officer.
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1. Clearstream Banking refers to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Register of Commerce and Companies under number B-9248 (CBL).
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