Demystifying CRA’s Specified Foreign Property reporting

Need help understanding CRA's revised rules regarding foreign property?

Written by Lindsey Eastman
January 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!