Canadian Tax Podcast 008: Incentive payments; Climate Action Incentive; US Double Tax;

Canadian Tax Podcast for the week of April 19, 2021. This week we cover:

  • Revenue Quebec filing extension;
  • Federal Budget Day;
  • CRA Filing deadline unchanged;
  • CPA Canada PACT guide;
  • What to do with an incentive reimbursement or credit card cash back payment;
  • Mechanics of the Climate Action Incentive;
  • Double-tax on US-source income;


“This is the Canadian Tax Podcast, Episode # 008,  hosted by me, Cameron Ware. Good morning”


  • “Happy Monday, it is the week of April 19, 2021. We’ll start with the news.

 [ITEM 1] – Quebec Filing Extension

 [ITEM 2] – Budget Day

[ITEM 3] – File On Time Says CRA

ITEM [4] – Accountants: CPA Canada’s New “PACT” GUIDE


  • Where to report incentives?
    • [quote]
    • Typically this goes to offset bank charges/interest.
    • Misc revenue or expense recoveries is the alternative if you want.
  • Climate Action Incentive: How Do I Get The Money?
    • [quote]
    • So the CAI is processed right on your tax return.
    • Added as an “extra refund”.
    • Amount depends on spouse, kids, outside urban area, etc.
  • Double-Tax on US income
    • [quote]
    • Cross-border stuff is tricky. I won’t get into the weeds here. Simplest answer is you’re likely missing the foreign tax credit claim on your Cdn tax return.
    • Functionally: You get paid from US outfit, pay US tax.
    • You show the full amount of income from your US job on your Cdn tax return.
    • DOUBLE-TAX right now.
    • However, claim foreign tax credit. Eliminates double tax.
    • Pro-tip: File US 1040NR return, get back all of the US tax.
    • Also, watch forex.


That will wrap things up for today. Like always, if you have any questions, send them to, or find us on twitter:  

This is Canadian Tax Podcast, thanks for listening. 

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