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johnyu19
New Member

I have paid foreign tax (US dividend withholding tax) in Box 16 on my T5. How is this tax calculated in my tax return?

I have paid foreign tax in Box 16 (Tax withholding from my US dividends) in my T5 (Statement of Investment Income).  How is this foreign tax calculated into my Canadian tax return as I do not see any link? 

3 Replies

I have paid foreign tax (US dividend withholding tax) in Box 16 on my T5. How is this tax calculated in my tax return?

T5 - box 16 calculations - This amount is transferred to Form FTC and is used to calculate your foreign tax credit.

estella1
New Member

I have paid foreign tax (US dividend withholding tax) in Box 16 on my T5. How is this tax calculated in my tax return?

I saw the calculated amount in T2209 and also in Ontario Provincial FTC.  But NO amount shown in T1 General line 232.  Help!

I have paid foreign tax (US dividend withholding tax) in Box 16 on my T5. How is this tax calculated in my tax return?

@estella - the amount in line 232 is only included if the allowable amounts are not deducted anywhere else on the return. You have correctly applied it. No worries!