3684790
I was wondering how foreign tax credit actually works. For example if I paid $100,000 dollars in tax in foreign country and my Canadian tax payable on foreign income is $100,000. Does it mean I can get foreign tax credit for the $100,000 whole amount or the 15% of $100,000?
You can see the calculations that go into the foreign tax credit on the T2209 Federal Foreign Tax Credits form: https://www.canada.ca/en/revenue-agency/services/forms-publications/forms/t2209.html
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