Hello all,
If I paid $30 000 tax in CAD to IRS in 2015, can I use all $30 000 as foreign tax credit when I file my tax to CRA in 2015? Or is there a max limit of foreign tax credit I can use? If yes, can the remaining foreign tax credit be carried over to next year? Thank you.
Search found 2 matches
- Wed Mar 09, 2016 1:29 am
- Forum: Canada / United States Tax & Accounting
- Topic: max limit of foreign tax credit I can use per year?
- Replies: 1
- Views: 1593
- Tue Mar 08, 2016 1:37 am
- Forum: Canada / United States Tax & Accounting
- Topic: amount of income tax paid in the USA = Foreign Tax Credit ?
- Replies: 8
- Views: 5520
amount of income tax paid in the USA = Foreign Tax Credit ?
Hello, I am in the process filing for Canada income tax return for 2015. I earned $76 000 CAD from an American company as a employee while living in US for 6 months, and then I returned to Canada and earned $32 000 CAD as a self employee/independent contractor. I already paid $14 065 income tax to t...