Foreign Tax Credit
–
Learn how to calculate, claim, and defend foreign tax credits.

Michael Cadesky and Dean Smith explain the mechanics, limitations, and planning opportunities of the Foreign Tax Credit to help CPAs correctly calculate and defend claims, avoid common CRA pitfalls, and ensure clients aren't taxed twice on the same income.

Get Access | $150
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On-Demand
On-Demand

2 Hours CPD
2 Hours CPD

2 Hours CPD
Exclusive

Course Overview

Foreign tax credits are intended to prevent double taxation, but the rules are among the most complex in Canadian tax law. CPAs regularly face challenges reconciling Canadian and foreign tax rules, determining sources of income, and addressing CRA audit disputes. This course clarifies the calculation, compliance, and planning aspects of both business and non-business foreign tax credits, using real examples and case studies.
Learning Objectives
1
Understand the Rules and Formula for Calculating the Foreign Tax Credit
2
Apply Treaty Provisions and Anti-Double Taxation Mechanisms
3
Identify and Correct CRA Misapplications
4
Implement Strategic Planning to Maximize FTC Utilization

Seminar Snapshot

Date Recorded
April 17, 2025
Presentation
■ Yes
Slides
■ Yes
Detailed Notes
■ Yes
Technical Corner
■ YES
Teach Test
■ Yes
Resources
■ Yes
Included in Archive
■ NO

FOREIGN TAX CREDIT

Duration
2 hours + Optional Q&A Recording
CPD CPD Certificate
Category
International Tax
In this program you will explore how to properly compute credits under the Income Tax Act, apply subsections 20(11) and 20(12) deductions, interpret treaty provisions, and navigate common CRA verification issues. Practical guidance will help you minimize reassessments, support clients during audits, and plan proactively for foreign income events.
After completing this program, you will be confident with:
  • Calculating and optimizing both business and non-business foreign tax credits, including carryforward and carryback provisions
  • Determining foreign source income and expenses, including treatment of interest, dividends, and capital gains
  • Handling cross-border structures such as U.S. LLCs and partnerships under Canadian classification rules
  • Applying subsections 20(11), 20(12), and section 110.5 to maximize deductions and relief
  • Managing RRSP, RRIF, and CPP division rules and recognizing when elections or transfers can be made tax-deferred
This course is essential if you are responsible for:
  • Preparing or reviewing returns involving foreign-source income or withholding taxes
  • Responding to CRA foreign tax credit audits or reassessments
  • Designing tax plans to minimize double taxation and optimize credit recovery

Meet Your Presenters

Michael Cadesky

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.

Hugh Woolley

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.
Frequently Asked Questions
Once you complete your purchase, you will create your account if you haven't already. You can access the course anytime through our platform. All Cadesky Tax Seminars programs come with one-year access.
Yes. This course is eligible for verifiable CPD hours for Canadian CPAs. A downloadable Certificate of Completion will be available once you complete all required modules.
Our programs are designed for CPAs and tax professionals who want to deepen their technical expertise. While no prerequisites are required, a working knowledge of Canadian tax will help you get the most out of the material.
On-demand courses include the full video presentation, downloadable slides, and additional resources mentioned in the Seminar Snapshot (Technical Corner, teach test, checklists).
Yes. You will have unlimited access to the course materials within the 1-year access period, so you can revisit the content anytime to refresh your knowledge.

Trusted by CPAs and Tax Professionals across Canada

This is a first time for me as well. Your firm was recommended to by one of my friends. Great source of information.

Thank you Mike, Hugh and team! I enjoyed the practical and realistic solutions to various tax issues.

Thank you ALL for such high quality courses and answering the questions in detail! So glad I found you guys!

Thank you very much for the seminars. They are very informative and helpful.

Thank you for the wonderful presentation, materials, and handling of queries as always.

This is my first time taking the Cadesky Tax Seminars. I am learning a lot and watching archived courses too. You have done a great job. Thank you so much!

I really enjoy your seminar series. Your presentations are extremely thorough and you explain complex tax issues very clearly.

The presentations are relevant. The material is easy to follow. Worked examples are excellent. It is a great value.

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