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?

 

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