PPRuNe Forums - View Single Post - CHC employees lose OETC
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Old 16th Apr 2010, 10:58
  #28 (permalink)  
SARBlade
 
Join Date: Feb 2007
Location: Canada
Age: 60
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From what I understand about the TEP program for the alumni of CHC is that they will simply submit your 2009 income tax return to CRA on your behalf. They will use foreign tax credits, both federal and provincial, to make up for the loss of the OETC. I had the advantage of looking at a current employees tax return and that is what they did for him. The part I do not understand is that CHC may make up a difference from what they believe you would have received having had the advantage of the OETC and what you will receive from the foreign tax credits. I am not sure how this works other than perhaps Canada does not allow foreign credits for some countries. This would pose a problem and CHC then may compensate you, I don't know. The other is what CHC would calculate for an OETC amount? I have filed on my own, using the foreign tax credits available to me, I am awaiting on what CRA is going to say. The difference in monies is huge if I am not allowed the foreign tax credits.
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