The Commerce Journal,Business and Local Businesses
*The Commerce Journal>>>Canada Taxes

T5 'foreign income' vs 'income from foreign sources'?


My T5's investment income summary categorizes income into different categories. Some dividends from foreign stocks are classified as part of "(3) total gross foreign income", while some other foreign dividends are "(5) total gross income from foreign sources". What are the differences between these?

They appear the same to me, and both not eligible to the cdn dividend tax credit

Tags
  Spain Taxes   Singapore Taxes   Mexico Taxes   Ireland Taxes   India Taxes   Germany Taxes   Canada Taxes   Australia Taxes   Small Business   Renting & Real Estate
Related information
  • US income source in 101 or 104 to be included even you paid tax in the US?

    It all gets included in your Canadian tax. Canadians pay tax on worldwide income, as do Americans, by the way. You then need to file for a Foreign Tax Credit, (sorry, don't have the form n...

  • If I sell my primary residence and move into my rental property can I avoid capital gains tax?

    you do not pay capital gain tax on selling your principal residence in canada - it is tax exempt

    ...
  • Can i claim mileage for business and if so what rate?

    You may claim mileage for business trip if your employer requires u to use a personal car to see clients or customers. Pls note that to and from your home to your employer's work place is co...

  • What address do I mail my taxes to?

    If you got sent tax forms in the mail then you should have received a sticker with the address. Just glue it to the front of the envelope. If not go to the post office and pick up a tax package ...

  • Why is it good to have some sort of pension plan?

    The pension gives a retired worker a monthly cheque to support his daily living when he/she no longer receives a monthly salary cheque. The govt CPP gives a retired Canadian worker a monthly che...

  • What may happen if you do not do your income tax form each year?

    If you owe money, you will be charged 5% of the amount as of May 1 (the day after your return is due). You will then be charged interest on top of that ,at a pretty high rate. You can be charged ...

  • For Canadians, How can I change it so that my GST cheque gets directly deposited into my bank account?

    Call up Revenue Canada and request it (phone number is on your Notice of Assessment). They'll send you a form to fill out and send back to them (with either a void cheque so they have your ba...

  • 2007 Canadian Taxes - Scholarship Deductions?

    ...

  •  

    Commerce Categories--Copyright/IP Policy--Contact Webmaster