Non-resident's Tax - Tim Hortons??

[YLSF]

This isnt' a specific recommendation for any stock, so I hope this falls inside the rules for RFD.

I own a few shares of Tim Horton's and I recentlly had "non-resident tax" withheld on the shares for a dividend payment. I called to check and I was told by my discount broker that since the shares were issues by Wendy's that it is considered a US investment hence tax was withheld.

Can anyone confirm if this is correct? Seems odd for a canadian traded equity!

[pitz]

Tim Hortons is a US-based company. They needed a special exemption to be included as part of the S&P/TSX Composite and S&P/TSX60 indicies.

Accordingly, dividends received from Tim Hortons are not eligible for the dividend tax credit, and are subject to 15% IRS withholding (if a W-8BEN is filed), or 30% withholding like any other US equity holding.

[YLSF]

OK.. Thanks for the posting....

I guess I didn't do enough due diligence!