agape1127
New Member

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.