made me think. Firstly it was named a bit wrong. The person who might do the investing was a Canadian. However there are things a Canadian should know before investing anything in the USA, in no particular order, they are:
1) Estate tax (or whatever you want to call it).
- if you have $60K or more in US assets, you must file a return
- US assets include many things, look them up, some will surprise you
- yes there is an exemption for small estates, but look at the rules
2) With-holding tax.
- check the rules, they are different for RRSP and TFSA
- only applies id you are a "US person" according to this
Some of the ramifications.
- I sold all my US ETFs. They totaled more than $60K.
- I'm in the process of selling all my individual US stocks (same reason)
- I rent snowbird residences even though it might have been financially better to buy.
Check out the problems before you jump in.
Tell me where I'm wrong or what I've missed, I'm sure there are many opportunities.