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abdel
New Member

I am a canadian citizen and I have 3 US rental properties so although i ALREADY paid income taxes on the revenue in the U.S.

I still have to include the net income on my Canadian side and of course be taxed on the canadian side? Is there a tax treaty US/Canada that I am not taxed twice on my rental income?
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Accepted Solutions

I am a canadian citizen and I have 3 US rental properties so although i ALREADY paid income taxes on the revenue in the U.S.

You will enter this foreign income, and, also, the actual foreign taxes paid to the US. The foreign taxes paid will create a foreign tax credit.

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns409-485/405-eng.html 

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1 Reply

I am a canadian citizen and I have 3 US rental properties so although i ALREADY paid income taxes on the revenue in the U.S.

You will enter this foreign income, and, also, the actual foreign taxes paid to the US. The foreign taxes paid will create a foreign tax credit.

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns409-485/405-eng.html