- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Filing
Whether you need to declare income from outside sources is dependent on a variety of factors, ranging from the type of income you have earned to the size and quantity of your investments.
Foreign income
If you paid withholding taxes to a foreign country on the income you earned, the CRA does not allow you to decrease your income by that amount. Instead, you may claim a foreign tax credit on your federal return. For more information, visit Line 40500 - Federal foreign tax credit.
Note: All amounts must be reported in Canadian dollars. More information about foreign income and how to declare it you can find in TurboTax FAQ Do I need to declare income I earned from sources outside of Canada?
Thank you for choosing TurboTax
March 8, 2022
10:18 AM