Who can claim the Overseas Employment Tax Credit?

In order to claim the Overseas Employment Tax Credit, individuals are required to be a Canadian resident or deemed resident at any time in the year AND earn employment income from performing at least 90% of the work outside of Canada for more than six consecutive months with a specified employer.

As well, the employment tasks must have been linked with a contract under which the employer operated a business out of Canada in one of the following activities:

• construction, installation, agricultural, or engineering
• exploration for or exploitation of petroleum, natural gas, minerals, or other resources alike;
• any activity carried out under contract with the United Nations; or
• any activity executed to acquire a contract to embark on any of the above activities.

ABOUT THE AUTHOR

ALLAN MADAN

CA.CPA.CGA

Allan Madan is a CPA, CA and the founder of Madan Chartered Accountant Professional Corporation. Allan provides valuable tax planning, accounting and income tax preparation services in the Greater Toronto Area.

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