Brookfield for Dummies
Withholding Tax on Dividends USA
Under Canadian domestic law, dividends paid by Brookfield to a non-Canadian tax resident shareholder are subject to 25% withholding tax. Generally, the Canada – U.S. Income Tax Treaty will reduce the rate of dividend withholding tax from 25% down to 15% for a resident of the United States. Where the U.S. resident owns the shares of Brookfield in a 401K, IRA or similar plan, the Canada – U.S. Income Tax Treaty will generally reduce the rate of dividend withholding tax to nil.
Nature of Brookfield Dividends Canada
For purposes of the enhanced dividend tax credit rules contained in the Income Tax Act (Canada) and any corresponding provincial and territorial tax legislation, all dividends (and deemed dividends) paid by Brookfield to Canadian tax residents on Brookfield’s shares are designated as “eligible dividends.” Unless stated otherwise, all dividends (and deemed dividends) are designated as “eligible dividends” for the purposes of these rules.
Tax Reporting
Dividends paid by Brookfield are reported annually on Form T5 which is distributed to shareholders in February.
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