I hope everyone had a good Fourth weekend. I gotta a question, that I hope someone can shed some light on.
Iím considering investing in Claymore Securities SWM Canadian Energy Income Index ETF (ENY) for my personal Roth IRA. Great energy holdings. But Iíve read about this double taxation that Canada has or is considering on Trusts . I guess the short of the whole thing is Iím going blind researching the net on what this may mean. Are my dividends reduced? It appears they are reduced 15%, but since this is a private IRA and not a Corporate IRA, I may be able to file paperwork to get the 15% back.
Has anyone had experience dealing with Canadian ETFís or stocks and have encountered this taxation of the dividends by the Canadian Government. Iím going back and forth on this ETF.
Any thoughts or experience would be greatly appreciated.
And maybe the whole thing is a moot point and the ETF is worth investing in anyway, since I believe that oil will continue to go up and even the Chinese are investing in Canadian Oil sands.