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New Member

I have immigrated from the UK in August 2014 to become a Canadian resident. Do I have to report my taxed earnings in the UK from January 2014 until my moving date?

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. 

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New Member

I have immigrated from the UK in August 2014 to become a Canadian resident. Do I have to report my taxed earnings in the UK from January 2014 until my moving date?

You can add the taxes you paid in the income section, on the "Foreign slip". This is later in the process and should help even things out.


See attached image...

View solution in original post

9 Replies
New Member

I have immigrated from the UK in August 2014 to become a Canadian resident. Do I have to report my taxed earnings in the UK from January 2014 until my moving date?

I've just added my earnings and my rebate has quartered. Is that correct? Having paid taxes in the UK should I be penalized here too?
New Member

I have immigrated from the UK in August 2014 to become a Canadian resident. Do I have to report my taxed earnings in the UK from January 2014 until my moving date?

I have yet to add my wife's earnings in the UK. Could I end up owing the CRA money? Seems unfair..
New Member

I have immigrated from the UK in August 2014 to become a Canadian resident. Do I have to report my taxed earnings in the UK from January 2014 until my moving date?

You can add the taxes you paid in the income section, on the "Foreign slip". This is later in the process and should help even things out.


See attached image...

View solution in original post

New Member

I have immigrated from the UK in August 2014 to become a Canadian resident. Do I have to report my taxed earnings in the UK from January 2014 until my moving date?

Thanks, Do I put the taxes paid in the same currency as the foreign income section or do I need to convert into canadian dollars? I put them both in as GBP and it certainly didn't even itself out (I am now down to 1/4 of my original rebate)
New Member

I have immigrated from the UK in August 2014 to become a Canadian resident. Do I have to report my taxed earnings in the UK from January 2014 until my moving date?

You put them in GBP, but you must add a valid exchange rate.
New Member

I have immigrated from the UK in August 2014 to become a Canadian resident. Do I have to report my taxed earnings in the UK from January 2014 until my moving date?

Your return is reducing because your non-refundable tax credits are increasing.

New Member

I have immigrated from the UK in August 2014 to become a Canadian resident. Do I have to report my taxed earnings in the UK from January 2014 until my moving date?

Yes. However, they will be prorated based off of the day you immigrated to Canada. 

New Member

I have immigrated from the UK in August 2014 to become a Canadian resident. Do I have to report my taxed earnings in the UK from January 2014 until my moving date?

Hello,


Yes you need to report this in the info section. I have attached an image that will show you what question directly launches your inquiry.

New Member

I have immigrated from the UK in August 2014 to become a Canadian resident. Do I have to report my taxed earnings in the UK from January 2014 until my moving date?

If you had foreign income from employment:

  1. At the top of the screen, select the Personal Tax Profile tab.
  2. On the first Personal Tax Profile screen, answer Yes to the question "Did you work in (tax year)?"
  3. Select the I was employed checkbox.
  4. Select the Foreign checkbox and click Continue.
  5. You will enter your T-slip information in the Income section of the interview. For more information, search the in-product Help for "Foreign tax credit - entering in EasyStep".

If you had foreign income from self-employment:

  1. At the top of the screen, select the Personal Tax Profile tab.
  2. On the first Personal Tax Profile screen, answer Yes to the question "Did you have self-employment, rental, investment, or other income?"
  3. Select the I was self-employed checkbox and click Continue.
  4. You will enter your T-slip information in the self-employment section of the interview. For more information, search the in-product Help for "Foreign tax credit - entering in EasyStep".

If you had foreign income from a pension:

  1. At the top of the screen, select the Personal Tax Profile tab.
  2. On the first Personal Profile screen, answer Yes to the question "Did you receive pension, retirement-type income, or withdraw money from an RRSP or RRIF? This doesn't include contributions to an RRSP or retirement plan."
  3. Select all the checkboxes that apply to the type of Retirement/pension income you received..
  4. You will enter your T-slip information in the Income section of the interview. For more information, search the in-product Help for "line 115".

If you had foreign income from investments:

  1. At the top of the screen, select the Personal Tax Profile tab.
  2. On the first Personal Tax Profile screen, answer Yes to the question "Did you have self-employment, rental, investment, or other income?"
  3. Select the I had investment income checkbox.
  4. Select all the checkboxes that apply and click Continue.
  5. You will enter your T-slip information in the Income section of the interview. For more information, search the in-product Help for "line 121". 

Report Foreign Income: Forms Method

  1. From the View menu, click Tax Info Slips.
  2. At the bottom of the list of Federal Slips, click Foreign.
  3. Enter the amounts in the foreign currency in which they were received and, in the exchange rate box, use the exchange rate that was in effect on the day you received the income or paid the expense.
    See the "Currency conversion and exchange rates" section below for more information.
  4. If you received the amounts in Canadian dollars, use 1.0 as the exchange rate.

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.

Currency conversion and exchange rates

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.