I had never lived in Canada before and have fully paid my taxes in the UK. Will I have to declare my earnings? I temporarily put in the net amount in Canadian dollars for the period Jan-August and saw that my tax rebate more than halved.
If you had foreign income from employment:
If you had foreign income from self-employment:
If you had foreign income from a pension:
If you had foreign income from investments:
If you did not receive a T-slip:
If you did not receive an official tax receipt, such as a T5, T3 or T5013, showing your foreign income and other foreign amounts (such as expenses, taxes paid, and foreign pensions), enter your amounts in theForeign Slip entry screen.
To get to this screen, follow the instructions above.
If the amounts on your foreign income slip are reported in a foreign currency, convert them to Canadian dollars before you enter them. Enter the exchange rate for that currency at the time you received the funds. If the amount was paid at various times throughout the year, you can use an average annual exchange rate. To get an average annual rate, visit the Bank of Canada's Web site at:http://www.bankofcanada.ca/en/rates/exchform.html?locale=en-ca&view=GBD_TURBOTAX or call them at 1-800-303-1282.
For foreign non-business income that is not on a T-slip, including US social security, do not convert the amounts to Canadian dollars. TurboTax converts the amounts automatically based on the exchange rates you enter.