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New Member
posted Oct 30, 2019 3:27:33 PM

There are 2 box 34's for the T3 form. Does "Foreign non-business income tax paid" count as Investment, or as Other Income?

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1 Best answer
Level 15
Oct 30, 2019 3:27:34 PM

Most often the "Foreign non-business income tax paid" shown in box 34 of your T3 relates to an investment. If your T3 shows "Dividends", "Capital Gains" or "Other Investment Income" and has been issued in relation to an investment such as mutual funds, enter as "Investment".

If the Box 34 related to "Other Income", the issuer of the slip should have included a footnote at the bottom specifying the type.

4 Replies
Level 15
Oct 30, 2019 3:27:34 PM

Most often the "Foreign non-business income tax paid" shown in box 34 of your T3 relates to an investment. If your T3 shows "Dividends", "Capital Gains" or "Other Investment Income" and has been issued in relation to an investment such as mutual funds, enter as "Investment".

If the Box 34 related to "Other Income", the issuer of the slip should have included a footnote at the bottom specifying the type.

New Member
Apr 19, 2023 11:11:35 AM

BMO Index Fund is S&P 500. Does USA go in the foreign country field?

New Member
Apr 19, 2023 3:37:34 PM

In the same column, there is space to state what country the foreign income is from.

For BMO S&P 500 should it read USA because the fund is S&P?

Also, can someone receiving this foreign income, then deduct his contribution to a US church as it is a non profit as long as it is not more than the foreign income for the year?

 

Intuit Alumni
Apr 26, 2023 3:17:46 AM

The question asked requires more information and clarification from the Canada Revenue Agency CRA) to be completely and correctly answered. Please contact the CRA at 1-800-959-8281.

 

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