Taxes you paid to HK will be non-refundable tax credits.
When you file T1, you include the HK income and then apply the taxes you paid to HK as non-refundable tax credit.
https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-40500-federal-foreign-tax-credit.html
Line 40500 – Federal foreign tax credit
You may be able to claim the federal foreign tax credit for foreign income or profit taxes that you paid on income you received from outside Canada and reported on your Canadian tax return. Tax treaties with other countries may affect whether you are eligible for this credit.
Foreign income and foreign taxes must be converted to Canadian dollars. Use the Bank of Canada exchange rate in effect on the day that you received these amounts. If you received a monthly pension or multiple payments at different times during the year, use the average annual exchange rate. The average monthly rate and the daily rate are available by visiting the Bank of Canada.
The Canada Revenue Agency (CRA) will also generally accept a rate for that day from another source if that source meets all of the following conditions. The source is:
widely available
verifiable
published by an independent provider on an ongoing basis
recognized by the market
used in accordance with well-accepted business principles
used to prepare financial statements, if any
used regularly from year to year
Other sources that the CRA would generally accept include rates from Bloomberg L.P., Thomson Reuters Corporation, and OANDA Corporation.
In certain circumstances described in the Income Tax Folio S5-F4-C1, Income Tax Reporting Currency, an average rate may be used to convert foreign currency amounts. Also refer to that Folio for more information about this or converting foreign amounts generally.
For more information about converting foreign income taxes paid, see Income Tax Folio S5-F2-C1, Foreign Tax Credit.
Note
If you deducted an amount on line 25600 of your return for income that is not taxable in Canada under a tax treaty, do not report that income, or any tax withheld from it, in your foreign tax credit calculation.
Completing your tax return
Complete Form T2209, Federal Foreign Tax Credits, and enter the amount from line 12 on line 40500 of your return.
Complete Form 428 for your province or territory of residence to calculate the provincial or territorial foreign tax credit that you may be entitled to.
Supporting documents
Filing electronically
Keep all your documents in case the CRA asks to see them at a later date.
Filing a paper return
Attach your completed Form T2209 and documents, such as official receipts that show the foreign taxes that you paid and a note showing your calculations. If you paid taxes to the United States, attach your W-2 information slip, U.S.1040 return, U.S. tax account transcript, and any other supporting documents that apply.