Serbinski Accounting Firms

Thanks for the response. I understand now what you say about marginal and effective rate and how T2209 is calculated. So it seems like I won't be able to use the entire foreign tax as a credit against my Can tax right? My Can marginal rate is not that high... about 32.5% (22% Fed + 10.5% Prov). And ...

I'm completing my Canadian tax and I have a question about the foreign tax credit on US income. I worked the last few months of 2010 in the US and had about $14K in non-business income and $5K in total US tax. When I complete form T2209 it only allows me to use about $2200 as a foreign tax credit. O...