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Foreign Dividend Tax Credits

April 13, 2019
9:56 am

moneyhelp

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Does anyone know where I can verify if my accountant filed a foreign dividend tax credit when doing my taxes?

I receive US income via dividend on some stocks I own, and I trust my accountant, he says he does file it, but is there a way I can validate this?

Is it displayed in one's NOA? Or is there somewhere I can see an "other income" section and where possibly that would be?

Cheers!

April 13, 2019
11:01 am

hwyc

GTA

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September 30, 2017

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Yes it is displayed on My Account - Tax returns tab.
Drill down the link in the 2nd column - Status of return
It should lead to more details. I can see mine from a previous year.
... so you should see yours if your accountant filed.

Hope this helps.

April 13, 2019
12:48 pm

Norman1

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One can check the tax return.

Check line 405 on Schedule 1. That's where the federal foreign tax credit is claimed. There will also be T2209 forms where the federal foreign tax credit is calculated.

There will be provincial foreign tax credits as well should the foreign taxes paid be more than the federal foreign tax credit allowed.

April 13, 2019
3:04 pm

AltaRed

BC Interior

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If it shows on T5 tax slips, it would have been data entered into their tax software and taken care of by the tax software. As Norman said, easily checked on your tax return.

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