Foreign Tax Credit
2 Hours Verifiable CPD | Slides and Resources Included
CRA reviews almost every significant foreign tax credit claim, especially for individuals. Often, CRA calculates a different amount or disallows the claim entirely. Learn the rules so you can contest a CRA reassessment and defend your position.
In this program, you will learn:
- Fundamental Principles of Foreign Tax Credits
- How to Calculate FTCs Correctly
- Identify and Avoid Common Traps
- Situations That Create Double Taxation and Ways to Mitigate Them
- Common Areas of Dispute with CRA and How to Defend Your Position
Foreign Tax Credit Explained by the Experts
Program Length:
90-minute Seminar plus optional 15-minute Teach Test and 45-minute Technical Corner which reviews the legislation. Includes slides and resources.
This course gives you in-depth knowledge of the Foreign Tax Credit system. You'll learn how to identify and manage FTC limitations, optimize calculations, and implement best practices for maximizing credit claims. By mastering this knowledge, you’ll enhance your tax planning skills and obtain better outcomes when dealing with CRA disputes.
This course is for you if you are responsible for:
- Managing tax planning for clients with foreign income
- Ensuring accurate foreign tax credit calculations and reporting
- Identifying and addressing common FTC verification issues
- Optimizing foreign income tax results for clients
- Handling CRA disputes related to foreign tax credits
Detailed Program Contents
• Why FTCs Are Important for Eliminating Double Taxation
• Basic Calculation Framework and Formula
• Common Misconceptions and Verification Issues
• Business versus Non-Business Foreign Tax
• Sourcing Principles for Different Income Types
• Net Foreign Income Determination
• The Pooling Concept Explained
• Calculating Foreign Income and Foreign Tax
• Determining the Foreign Tax Credit
• Provincial Credit Considerations
• Foreign Taxes That Qualify
• Duty to Mitigate Foreign Tax
• Treaty-Exempt Income Limitations
• Use It or Lose It: Carryforward Rules and Differences
• 15% Withholding Tax Limitation
• Attribution Rules and FTC Implications
• Tax-Exempt Income
• Foreign Tax at Rates Exceeding 15%
• Exchange Rate Considerations
• Subsection 20(12) Deduction Opportunities
• Section 110.5 Planning for Corporations
• Donations and Impact on FTC
• Managing Dividend Tax Credit Interactions
• Sourcing of Expenses to Foreign Income
• Trust Allocation Issues
• Foreign Affiliate Situations
• Alternative Minimum Tax Interactions
• Tax on Split Income (TOSI) Considerations
Completing this program earns you a Verifiable CPD Certificate to help you meet your annual and triennial CPD requirements, including the minimum of 10 verifiable hours per year and 60 verifiable hours over a three-year period.
Technical Corner
Explore key sections of the Income Tax Act with our optional deep dives. These sessions offer clear, practical explanations of complex rules — helping you understand the reasoning behind tax strategies and handle technical questions with confidence.
Register Now
Register today for instant, on-demand access for a full year to learn on your own time.
Foreign Tax Credit
- 2.0 Hours Verifiable CPD
- Led by Tax Professionals
- Presentation and Technical Corner
- Includes Slides & Resources
- Bonus: Teach Test (Test Your Knowledge)
ABOUT THE PRESENTER
Dean Smith
PhD, CFP, TEP, CPA, CA, RWM
As the President of Cadesky U.S. Tax Ltd., Dean has been providing U.S./Canada cross-border planning and compliance for over 30 years. He assists private clients with their personal, corporate, and estate planning needs taking into account the unique challenges of integrating two independent tax systems.
ABOUT THE PRESENTER
Michael Cadesky
FCPA, FCA, FTIHK, CTA, TEP (Emeritus)
Michael Cadesky is the managing partner at Cadesky Tax and a committed contributor to the tax and accounting professions since 1980, earning the title of Fellow from CPA Ontario. He is a past governor of the Canadian Tax Foundation, past chair of STEP Canada and STEP Worldwide, and past chair of the CPA Canada Tax Committee for Small and Medium-Sized Enterprises. Michael is also the co-author of 11 books on tax subjects and the author or co-author of numerous papers and articles on Canadian and international taxation.
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