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Where Taxpayers and Advisers Meet

Declaring UK dividends in Canadian personal income tax

Joined:Wed Jul 28, 2021 1:01 am
Declaring UK dividends in Canadian personal income tax

Postby jck » Wed Jul 28, 2021 1:20 am

I am Canadian citizen and I am currently living and working in the UK as a permanent resident. I am working as a contractor outside IR35 so I have salary and dividend income.
I have to declare my UK income in Canada. Declaring the salary is straight forward but dividends seem complicated. I assume that dividends earned in the UK would be taxed similarly in Canada, with Canada CRA charging the difference between what I would owe in Canada with a similar income and what I already paid in the UK.
For my surprise the software I am using seems to be giving an absurd value in extra taxes, I am not sure I am providing values in the proper fields. Does anyone know what would be the personal tax rate for foreign dividend earned in the UK? Information available seem to be confusing and scarce.
Thanks for your help.

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