I am a resident of Canada but am currently operating a consulting business as a sole proprietor in Hong Kong. I remotely serve my Hong Kong clients from my principal home in Canada. I need to file tax returns in both HK and Canada for 2023. However, Hong Kong's income tax year starts from Apr 1, 2023 to Mar 31, 2024. So I don't know exactly how much tax I need to pay when I file my Canadian tax return for 2023. My question is whether or not I can enter an approximate (or unpaid) amount of tax from my own calculation when completing the Foreign Tax Credit (T2209) under foreign business income. If not allowed, can the actual tax paid be carried forward?
