DaveF1006
Expert Alumni

Deductions & credits

Yes, if you make a selection, you will need to abide by that selection in ensuing tax seasons. a rule of thumb to follow is if your foreign income is of general category ( wages, interest income  etc. ) then you are correct in using the simplified method.  If you have incomes  from many categories, including trusts, complicated investment portfolios  etc. and / or multi category carry over credits, do not choose simplified method.

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