Hi,
I have some restricted stock units RSUs from my employer (in Canada HQ in USA) that have vested in 2021. As a consequence, my employer has considered the value of those stocks in box 14 as income and box 38. My understanding is that RSUs are considered as any other taxable income as soon as they vest so that’s why which is fine.
What I failed to understand is that the brokerage in USA managing the RSUs have also withheld 50% taxes on those RSUs and he said this is due to my tax profile and they have to withheld those taxes…
I just can not understand how or why I will be paying taxes on those RSUs as part of my income and at the same time 50% taxes is withheld. Anything to be done please about it?
Thanks a lot
Hello! This is how this mechanism works, withheld taxes are automatically taken based on your current fiscal status and then you will be able to claim them in your tax return as they will be included in box 22 of your T4.
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