for Americans and Canadians making money in each other's countries
polycounter lvl 18
Hey guys, I just learned something great, and i wanted to share it with anyone who was interested. It's legal bullshit, but if you're an American or Canadian, and you make money in the other country, like sayyyy
you do art contract work with a company in the states or canada
there's a tax treaty between us that basically states that the typical tax witholding laws in either country don't apply.. and that they default at 10%, unless you're making money on ART or SOFTWARE and then there's NO WITHHOLDING TAX WHAT SO EVER. -- you only have to pay tax to your own country.
so if any of you sell shit on turbosquid and you're paying a 30% withholding tax or something, you're getting fucked.
just thought you'd like to know.
here's the treaty.
http://www.fin.gc.ca/treaties-conventions/USA_-eng.asp
I'm referencing article XII
you do art contract work with a company in the states or canada
there's a tax treaty between us that basically states that the typical tax witholding laws in either country don't apply.. and that they default at 10%, unless you're making money on ART or SOFTWARE and then there's NO WITHHOLDING TAX WHAT SO EVER. -- you only have to pay tax to your own country.
so if any of you sell shit on turbosquid and you're paying a 30% withholding tax or something, you're getting fucked.
just thought you'd like to know.
here's the treaty.
http://www.fin.gc.ca/treaties-conventions/USA_-eng.asp
I'm referencing article XII