Line 12100 - Foreign interest and dividends

Note: Line 12100 was line 121 before tax year 2019.

If you received foreign interest or dividend income, you have to report it in Canadian dollars. Use the Bank of Canada exchange rate in effect on the day you received the income. If you received the income at different times during the year, use the average annual rate. The average monthly rate and the daily rate are available by visiting the Bank of Canada website.

Report on line 12100 any foreign dividends you received. Foreign dividends do not qualify for the dividend tax credit.

If you paid foreign taxes on your interest or dividend income, you may be able to claim a foreign tax credit when you calculate your federal (see line 40500) and provincial or territorial taxes (Form 428). Do not subtract the taxes from your income when you report it.

If you own an interest in a foreign investment entity or an interest in a foreign insurance policy, you may have to report investment income. For more information, contact the CRA.

If, as a shareholder in a foreign corporation, you received certain shares in another foreign corporation, you may not have to report any amount as income for receiving those shares. For more information, contact the CRA.

Completing your tax return

Report on line 12100 the total interest and investment income.

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