Line 12100 – Interest and other investment income:
Foreign income

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

Report in Canadian dollars foreign interest or dividend income that you received.

Use the Bank of Canada exchange rate in effect on the day that 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.

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.

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.

Note

Foreign dividends do not qualify for the dividend tax credit.

Completing your tax return

Complete the chart for line 12100 using your Federal Worksheet and enter the result on line 12100 of your return.

Forms and publications

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