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bhlehr
February 27, 2023
Question

Do I claim stock dividends if they are automatically reinvested?

  • February 27, 2023
  • 1 reply
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    PURPLE91
    March 2, 2023

    Yes, stock dividends could be claimed even if they are reinvested. As per Canada Revenue Agency, Cash dividends are usually taxable even if investors reinvest that money automatically through their brokerage account or via the company's DRIP. However, tax rates can vary significantly depending on the type of dividend paid (qualified or non-qualified) and an investor's taxable income.

    Fore more information: Dividends

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