How to invest USD?

[paulinesinclair]

Hi all, so my odd situation is that I have a decent amount of USD that I cannot convert back to CAD and I need to keep it liquid because I may need it at any point (health expenses). The funds are held at a US bank but taxes are paid in Canada.

So far I have just been rolling T-Bills but it's sort of a pain to do it manually as I sometimes forget. I was looking into a MM ETF but they seem to all pay "Dividends" which would mean withholding tax. Any good suggestions on how I can just park it somewhere and earn GIC'ish returns with minimal tax implications?

Thank you!

 

[garfield156]

@paulinesinclair HISA ETF.

Cash.to or whatever us equivalent

 

[carolyb]

@garfield156 That's not a USD ETF

 

[garfield156]

@carolyb I know thats why i said whatever the us equivalent

 

[carolyb]

@paulinesinclair IIRC to avoid withholding tax you need capital gains, not interest/dividends/income. You're then looking at equities and not safe bets like tbills or GIC-like instruments.

That said, avoiding the capital risk may be worth paying the tax on fixed income product(s)