How to declare foreign interests/dividends income?

The easiest way to declare foreign dividends / interests income is to use a T5 slip. Put gross income into box 15 and foreign taxes paid into box 16.

• You can select a currency at box 27 to let the software convert the foreign current to Canadian dollars for you
• If the foreign taxes are more than 15% of foreign income, you will need to let the software to apply the 15% cap for you. the excess taxes will be deducted at line 232 of your return.