Foreign Income earned before moving to Canada

Hi,

I moved here part way through the year and the query relates to:

Income from Foreign sources, plus Canadian sourced Part XIII income, for the part of the year when you were not a resident of Canada

Do i have to enter a value for income earned before moving to Canada. If I do - do i put the value minus tax I already paid on it in the country I earned it in before moving to Canada.

655

Level 13

May 4, 2020 10:51:36 AM

Foreign income earned prior to arriving in Canada. We want to know about your world gross income. It boils down to whether you get a full year or is it prorated from your date of entry. And if you need to apply for a Foreign Tax Credit. Let me explain.

There are 3 things to keep in mind when reporting foreign-sourced income on your Canadian tax return;

a) Your residency status,
b) The type of income you are reporting and;
c) Country of origin to determine if we have a tax treaty to avoid double taxation.

And if we have a treaty with the country of origin then this means you may be able to claim a Foreign Tax Credit.

For more detailed information as a Newcomer to Canada, please review the links provided below from TurboTax:

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Foreign Income earned before moving to Canada