cash isa swap
Jun 8th 2011 | 8:57 pm
#1
Thread Starter
Forum Regular
Joined: Jul 2008
Posts: 249
From: virgil ,niagara on the lake
cash isa swap
Hi
Is it possible to exchange my uk cash isas to an equivalent scheme in Canada.
I believe that if I keep them in the uk I will be taxed on the interest in Canada.
Seems to defeat the object.Any ideas would be gratefully received Thanks.
Is it possible to exchange my uk cash isas to an equivalent scheme in Canada.
I believe that if I keep them in the uk I will be taxed on the interest in Canada.
Seems to defeat the object.Any ideas would be gratefully received Thanks.
Jun 9th 2011 | 3:33 am
#2
Binned by Muderators
Joined: Jul 2007
Posts: 11,708
From: White Rock BC
Re: cash isa swap
I believe that if I keep them in the uk I will be taxed on the interest in Canada.
Seems to defeat the object.Any ideas would be gratefully received Thanks.
Seems to defeat the object.Any ideas would be gratefully received Thanks.
The Canadian equivalent is a Tax Free Savings Account. You "earn" contribution room at the rate of $5,000 a year (so $10,000 for a couple). If you are in Canada for the long-term then you can gradually transfer the money from your ISA to a TFSA.
