max limit of foreign tax credit I can use per year?

[smoothy84]

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.

[nelsona]

The US tax you incurred (as calculated on your US tax return) will only be credited against the US income you report on your Cdn return, and only at the same average rate you paid in Cdn taxes.

Any leftover cannot be carried back/forward in Canada.