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
      5 Answers, 11 Upvotes
      Updated on 11 Sep 2018

      Hi!

      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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    • Tai Zhi
      Tai Zhi
      23 Answers, 29 Upvotes
      Answered on 07 Jul 2018

      AutoWealth employs Saxo Capital Markets as the partnering broker and custodian. We note that this is the same custodian for Stashaway. We also note that the ETF prospectus of government bonds, abstract below, clearly indicates that withholding tax are payable. We will not comment any further on whether such claims are genuine or whether such claims are done to give a false impression of an non-existent advantage.

      Abstract of iShares 7-10 Year Treasury Bond ETF Prospectus

      "If you are neither a resident nor a citizen of the U.S. or if you are a non-U.S. entity (other than a pass-through entity to the extent owned by U.S. persons), the Fund’s ordinary income dividends (which include distributions of net short-term capital gains) will generally be subject to a 30% U.S. federal withholding tax, unless a lower treaty rate applies provided that withholding tax will generally not apply to any gain or income realized by a non-U.S. shareholder in respect of any distributions of long-term capital gains or upon the sale or other disposition of shares of the Fund."

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