Foreign Tax Credit

You can claim a foreign tax credit on your business or non-business income if you meet both of the following conditions:

• You were resident in Québec on December 31, 2011, or on the date on which you ceased to reside in Canada in 2011.
• You paid, on the income in question, income tax to the government of a foreign country or of a political subdivision of a foreign country, or you paid a similar contribution to certain international organizations.

Your foreign tax credit on non-business income cannot be higher than the total foreign income tax paid on your non-business income, minus the foreign tax credit granted by the Canada Revenue Agency on this income.

To calculate the amount of your tax credit, complete a copy of form TP-772-V, Foreign Tax Credit, for each of the countries to which you paid income tax.