What is the Foreign Income section?

[superjonmullin]

I'm filling out my 1st Canadian tax return; I landed in Nov 2016 and started work Dec 1st 2016.  When inputting foreign income, is that money earned prior to arriving in Canada, or money I make from foreign sources whilst in Canada?

[TurboTaxTerry · Accepted solution]

Taxable foreign income includes only income earned after your arrival. In the "Intro" section of Turbo Tax you need to indicate your date of entry as well as any foreign income prior to entry for calculation of personal tax credits as a Part Year Resident.

[superjonmullin]

Thank you TurboTaxTerry.  Follow up - in the "intro" section, I'm assuming the money earned prior to arrival will be Jan 2016 until arrival in Canada (tax year in the UK runs April to March) and will be in CAD and not GBP's.  If this  is the case, what do I use as an FX conversion?

[TurboTaxTerry]

Yes you are correct. Bank of Canada Conversion on annual basis is 1.79621160

[superjonmullin]

You sir are a star, thank you.

[TurboTaxTerry]

You are most welcome.