Demystifying CRA’s Specified Foreign Property reporting

Jan 11, 2016

CRA’s new form T1135 requires taxpayers to provide significantly more information about their foreign property. This article explains the new rules.

A T1135 must be filed by:  Canadian resident individuals, corporations and trusts that, at any time during the year, own specified foreign property costing most than $100,000; and partnerships that hold specified foreign property costing more than $100,000 and who non-resident members’ share of income or loss is less than 90% during the reporting period. Read More!

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