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After you file
Thanks, that's what I suspected.
Where would I report "foreign business income", do I need to put that on a T2125? When I added $4500 of foreign income using a T2125 (which required entering my business name, foreign address, but skip the GST/PST since my business is not situated in any province), it reduced my return by about -$1000.
Would such a small increase in overall income really cause -$1000 change, or am I doing something wrong? That looks more like I was being taxed on the foreign income itself.
What about for foreign capital gains (for which I filed in Poland already). My gains in 2023 were lower than my 2022 losses (carried-over), so I don't pay any tax on that in 2023 in Poland. So would I need to list that in the return?
March 28, 2024
5:17 AM