Provincial and Territorial Foreign Tax Credits
Amount:
No Fixed Amount
Type of Program:
Tax Credit
Description:
The provincial or territorial foreign tax credit is available to corporations and can be claimed for taxes it paid to another country on foreign non-business income. This credit reduces the provincial tax otherwise payable.
Comments on Funding:
No other details available.
When It Ends:
Ongoing
Deadline:
Rolling Deadline
Eligibility:
The applicant must:
This tax cannot be claimed for the provinces of Quebec and Alberta on the federal return, because these provinces collect their own income taxes.
Application Steps:
No specific steps have been identified.
Documentation Needed:
To claim the foreign tax credit, applicants must complete Schedule 21, Federal and Provincial or Territorial Foreign Income Tax Credits and Federal Logging Tax Credit. On the appropriate lines of part 2 of Schedule 5, Tax Calculation Supplementary – Corporations, they must enter the applicable provincial and territorial foreign tax credits.
Other Things to Note:
Date modified: 2022-05-16
Program Contact:
