The T1135 form has been updated several times over the last few years. As of the 2014 taxation year, the T1135 has a new streamlined reporting option for specified foreign property held in accounts ...

If your clients own certain foreign property costing more than $100,000, they have to report it to CRA using the T1135 Foreign Income Verification Statement. The T1135 requires Canadian taxpayers to ...

But, believe it or not, a T1135 must be filed if you own foreign stocks, such as Apple Corp., Ford Motor Co. or Bank of America, in your Canadian, non-registered brokerage account. I’ve always ...

“Stronger reporting requirements will provide the Canada Revenue Agency (CRA) with more information to crack down on those who attempt to cheat the system,” said Gail Shea, minister of national ...

Gains in spectator sports, decline in mining, oil and gas ...

If you held foreign property whose total cost exceeded $100,000 at any point at any time during 2021, you may be required to complete Canada Revenue Agency’s T1135 Foreign Income Verification ...

If you do and tick "yes" on the accompanying box, you're on the hook to file a T1135 form. Failure to do so can generate penalties of $25 a day up to $2,500, plus other possible gross negligence ...

If the answer is yes, the return instructs you to complete Form T1135, Foreign Income Verification Statement. There are substantial penalties for failure to file this form, as one taxpayer recently ...