Asked by Anonymous

StashAway recently mentioned that they plan to claim back the withholding dividend tax by US. Does AutoWealth intend to do the same?

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  • Amanda Ong
    Amanda Ong
    Level 3. Wonderkid
    Updated on 08 Oct 2018


    Just to share, we have just reimbursed the witholding tax refund last week to all clients who are entitled to it for the FY2017.

    If you received a reimbursement, you would have received an email from us informing you of this :)

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    • Christopher How
      Thanks Amanda. Are you able to provide more clarity about the reimbursed witholding tax refund? Is this refund for the exemption from withholding tax from bond payments that SAXO is doing for all their clients (including robo advisors like Stashaway and Autowealth) is not unique to Stashaway? I mean, I've just received the withholding tax refund for my Autowealth account as well. Or is this something else that Stashaway is doing for their clients that's exclusive to Stashaway clients?
      08 Oct 2018
    • Amanda Ong
      Hi Christopher, thank you for your question. Yes, I believe Saxo has done this for all their clients. I am unable to comment on their arrangement with other robo-advisors but for us, Saxo submits the application to the U.S tax authorities to claim back the withholding tax for ETFs that qualify under the QII (qualified interest income) rule. They do this once a year and once the funds are transferred to us, we will proceed to refund it to your accounts. We inform all of our clients who have received a reimbursement via email. Those that have closed their account will also receive an email and they may claim it by providing us with their bank account details. I hope this clarifies, Christopher! If you have any questions, please feel free to reach out to us at [email protected]
      17 Oct 2018
  • Tai Zhi
    Tai Zhi, Chief Investment Officer at Autowealth
    Level 3. Wonderkid
    Updated on 04 Mar 2019

    AutoWealth works with our partnering custodian to seek partial reimbursement of the withholding taxes from the U.S. Internal Revenue Service, where applicable.

    The lastest reimbursement for withholding taxes were credited to our clients on 26 Sep 2018.

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