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The short answer
If you are resident in Quebec, your Nigerian rent, interest, dividends and other income go on your Quebec return (TP-1) as well as your federal return, converted to Canadian dollars. Nigerian tax paid on that income can be claimed back through two separate credits: the federal foreign tax credit (Form T2209) and the Quebec foreign tax credit on Form TP-772-V, which Revenu Québec says must be enclosed with your return.
Two returns, one set of Nigerian income
Quebec is the one province that runs its own personal income tax return. A Quebec resident files the federal return with the Canada Revenue Agency (CRA) and the TP-1 with Revenu Québec, and Nigerian income has to appear on both. The CRA guide for residents abroad describes the basic rule that applies to anyone who is a factual resident of Canada: you report your world income and pay federal and provincial tax on it. For a Quebec resident, the provincial part is the TP-1.
That covers the income most Nigerians in Montreal, Quebec City or Gatineau actually have at home: rent from a flat in Lagos or Abuja, interest on a naira fixed deposit or Treasury bills, dividends from shares on the Nigerian Exchange, or fees for work done for a Nigerian client.
Converting naira and choosing the right lines
Every amount goes on the return in Canadian dollars. For foreign interest and dividends, the CRA tells you to use the Bank of Canada rate in effect on the day the amount arises, with some exceptions, and not to subtract the foreign tax from the income. The same gross-up logic applies to rent: you report the full rent and the expenses you can claim, and treat the Nigerian tax as a credit rather than an expense.
- Rent from Nigerian property: reported as rental income with allowable expenses (the CRA rental guide T4036 sets out what counts as current and capital spending; see Lagos rental income on your Canadian return).
- Interest: reported as investment income. Interest on a fixed deposit or other investment contract is reported each year as it accrues, even if you have not been paid yet.
- Dividends from Nigerian companies: reported as foreign dividends. The CRA says foreign dividends do not qualify for the dividend tax credit.
Keep the rate you used and its date for each amount. Revenu Québec and the CRA will expect the same Canadian-dollar figures on both returns.
How the foreign tax credit works in Quebec
Nigeria usually taxes Nigerian-source income first. The Canada–Nigeria tax agreement lets Nigeria tax income from immovable property situated there, caps Nigerian tax on dividends at 12.5% or 15% depending on the shareholding and on interest at 12.5%, and under Article 23 Canada deducts the Nigerian tax from Canadian tax on that income, subject to Canadian law.
On the federal side the credit is claimed on Form T2209. The CRA folio on the foreign tax credit sets the rules that matter most:
- The credit for non-business income tax is the lesser of the foreign tax paid and the Canadian tax on that income, worked out country by country.
- If Nigerian withholding was higher than the treaty rate, the excess is not foreign tax paid; you ask the Nigerian tax authority for a refund instead.
- Voluntary payments are not creditable, and unused non-business foreign tax credit cannot be carried to another year.
- You need evidence: a withholding tax receipt or credit note, or your Nigerian return and payment receipts.
For the Quebec return, Revenu Québec publishes Form TP-772-V, Foreign Tax Credit (current version dated October 2026). Its form page says the form "must be enclosed with your income tax return" if you are an individual claiming the credit, and points to the line 409 guidance (Schedule E). Follow the TP-772-V instructions for how Quebec works out its share; do not assume the federal and Quebec figures will be the same. The federal mechanics are set out in the foreign tax credit and Nigerian withholding.
Worked example (illustrative figures only)
A Montreal resident lets a Lagos flat to a company for ₦6,000,000 a year. The tenant deducts 10% withholding tax, ₦600,000, and pays ₦5,400,000. Using an example rate of ₦1,100 to C$1 (use the Bank of Canada rate on the actual date), the gross rent is about C$5,454.55 and the Nigerian tax about C$545.45.
| Item | Naira | C$ at example rate |
|---|---|---|
| Gross rent | ₦6,000,000 | 5,454.55 |
| Withholding tax deducted in Nigeria | ₦600,000 | 545.45 |
| Cash received | ₦5,400,000 | 4,909.09 |
The full C$5,454.55 (less allowable expenses) goes on both returns. The C$545.45 is then claimed as a credit, limited federally to the Canadian tax on that income and on the Quebec side to what TP-772-V allows. If your final Nigerian liability turns out lower than the amount withheld, only the final tax counts.
Other forms Quebec residents still owe the CRA
Federal reporting rules apply regardless of province. If the total cost of your specified foreign property, such as Nigerian bank accounts, shares or a rental flat, was more than $100,000 at any time in the year, Form T1135 goes to the CRA with your federal return. The 2025 guide gives 30 April 2026 as the T1135 due date for 2025 (15 June if you or your spouse ran a business). There is no Quebec version of the T1135; Revenu Québec has its own forms for other foreign matters, so read its "Income Earned Outside Québec" guidance linked from the TP-772-V page.
What to check first
- List every Nigerian income item for the calendar year with the date received and the naira amount.
- Convert each at the Bank of Canada rate for that date and keep the workings.
- Collect proof of Nigerian tax: withholding credit notes from tenants or banks, or your Nigerian return and receipts.
- Claim the federal credit on T2209 and the Quebec credit on TP-772-V, each following its own instructions.
- Check whether the T1135 threshold applies.
This is general information, not tax advice. A Quebec tax professional can check the TP-772-V calculation for your figures.
Where Pryme fits
Rent paid in naira can land in the NGN balance of a Pryme account and stay in naira until you choose to convert with Swap, which shows the rate and the fee before you approve. For the paper trail both tax authorities may ask for, you can generate a verifiable statement through our partner VerifyDoc.ai (receipts and statements), which anyone can check is genuine and unaltered.
Questions people ask
Do I report Nigerian income on my Quebec return if it was already taxed in Nigeria?
Yes. A Quebec resident reports world income on both the federal and Quebec returns. Nigerian tax paid is then claimed as a foreign tax credit, federally on T2209 and in Quebec on TP-772-V.
Which form is the Quebec foreign tax credit?
Form TP-772-V, Foreign Tax Credit. Revenu Québec says it must be enclosed with your return when you claim the credit; its guidance refers to line 409 (Schedule E).
What exchange rate do I use for naira income?
The CRA tells you to use the Bank of Canada rate in effect on the day the income arises, with some exceptions. Use the same Canadian-dollar figures on both returns.
Do I file a T1135 with Revenu Québec?
No. The T1135 is a federal form filed with the CRA when the cost of your specified foreign property was over $100,000 at any time in the year.
Sources
- Revenu Québec, TP-772-V Foreign Tax Credit (form version 2026-10) · accessed Oct 2026
- CRA Income Tax Folio S5-F2-C1, Foreign Tax Credit (modified 31 Mar 2026) · accessed Oct 2026
- Canada–Nigeria tax agreement (signed Abuja, 4 Aug 1992), Global Affairs Canada treaty database · accessed Oct 2026
- CRA, Line 12100 – Interest and other investment income (modified 20 Jan 2026) · accessed Oct 2026
- CRA T4131, Canadian Residents Abroad (Rev. 12) · accessed Oct 2026
- CRA 5000-G, General Income Tax and Benefit Guide 2025 (modified 20 Jan 2026) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.