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My net income is zero last year but I paid foreign tax due to capital gain. Foreign tax credit was not applied due to zero net income. Can I claim the credit next year?
My company based in the States bought back the shares which resulted in capital gains. I got automatically taxed 15% to the States which I normally can apply it to my Canadian tax as foreign tax credits. However, due to zero net income last year, the credit didn't apply. I wish to apply this credit next year.
‎April 19, 2022
9:57 AM