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"The full dividend is paid to me without withholding any Canadian tax."

Maybe. Schwab never reported to me the foreign taxes paid on my retirement accounts, it wasn't until I owned the same foreign stock in both taxable and deferred accounts that I figured out I was losing the tax credit on my IRA investments.

"It's possible that Canadian tax law treats US IRA accounts"

Sometimes I think that they do. I have heard repeatedly from articulate intelligent people that you can on Canadian Royalty Trusts held in tax deferred accounts stop any Canadian taxes from being withheld. Someone even posted a link to a royalty trust website that walked you through the requirements of getting the Cdn withholdings stopped. Never heard of it on regular Canadian common stocks.
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