Hi, I'm a Canadian Permanent Resident and working in Hong Kong. My wife and my son are PR too and they're living in Winnipeg. Does Turbo Tax cover for foreign income tax?
1. Does Turbo Tax handle to to fill in foreign country income?
2. Hong Kong tax year from from 1 Apr to next year 31 March. How does Turbo Tax handle it?
3. I will need to pay Hong Kong tax. I heard that I just need to pay the different of Canadian and HK tax. How does Turbo Tax help to overcome it?
Hi, I'm a Canadian Permanent Resident and working in Hong Kong. My wife and my son are PR too and they're living in Winnipeg. Does Turbo Tax cover for foreign income tax?
Turbotax for CRA has nothing to do with completing any HK tax return. You must source a product that does support HK tax preparation. Your questions
1. In the context of preparing a Canada tax return, yes. Report any foreign income in CAD.
2. As above noted it is not relevant. You are preparing a CRA tax return.
3. When reporting to CRA, include all world income, regardless of whether some or all of it is reported elsewhere. Check the Canada -HK tax treaty or seek professional help.
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