Foreign Income Tax Calculator
Calculate your Canadian tax on worldwide income and see how the foreign tax credit reduces double taxation.
2026 Tax YearData stays on your deviceUpdated Apr 1, 2026
$
$
$
Net Canadian Tax
$14,834.26
Foreign Tax Credit
$6,000.00
Reduces Canadian tax
Total Tax Burden
$20,834.26
Canadian + foreign tax
Canadian Tax on Total
$20,834.26
Before foreign credit
Foreign Tax Paid
$6,000.00
Total Worldwide Income
$100,000.00
Canadian Tax on Foreign
$6,250.28
Max credit amount
Frequently Asked Questions
How does the foreign tax credit work?
Canada taxes your worldwide income, but provides a credit for taxes paid to other countries. The credit is the lesser of the foreign tax you paid or the Canadian tax attributable to that foreign income.
Can I claim more credit than Canadian tax on the foreign income?
No. The foreign tax credit is limited to the Canadian tax that would have been payable on the foreign income. Any excess foreign tax cannot be used as a credit.
Do I need to report all foreign income?
Yes. Canadian residents must report worldwide income from all sources. You may be eligible for the foreign tax credit to avoid double taxation.
Official Data Sources
Ad Space
Related Calculators
People also use
Built and reviewed by Konstantin Iakovlev · Data from CRA, CMHC, Bank of Canada · MethodologyDisclaimer: This calculator provides estimates based on publicly available data from CRA and other government sources. It does not constitute financial advice. Consult a qualified advisor for decisions about your specific situation.
Ad Space