How to report foreign interests/dividends income?

The easiest way to report foreign dividends / interests income is to use a T5 slip. Put gross income into box 15 and foreign taxes paid into box 16.

• You can select a currency at box 27 to let the software convert the foreign currency to Canadian dollars for you. Otherwise, you need to convert to Canadian dollar yourself.
• If tax paid in box 16 is more than 15% of foreign income in box 15, the software will apply a 15% cap for you and the excess part will be used to calculate a deduction of income at line 23200 of your return.