Foreign Tax Credit
–
Strengthen your position and secure full credit for foreign taxes paid.

Michael Cadesky and Dean Smith explain how to calculate, optimize, and defend Foreign Tax Credit claims, covering common CRA challenges, double taxation issues, and practical strategies for achieving accurate and defensible results.

On-Demand
On-Demand

2 Hours CPD
2 Hours CPD

New
New Release

Course Curriculum
7 sections • Expand to view details
  • 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

Seminar Snapshot

Date Recorded
April 15, 2025
Presentation
■ Yes
Slides
■ Yes
Detailed Notes
■ No
Technical Corner
■ YES
Teach Test
■ Yes
Resources
■ Yes
Included in Archive
■ No

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 how to:

  • 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


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


Seminar Length: 90-minute Seminar plus optional 15-minute Teach Test and 45-minute Technical Corner, which reviews the legislation. Includes slides and resources.
Category: International Tax

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.

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.

Dean Smith

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.

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