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L
lewismarkdunne-g
April 4, 2023
Question

If I own a real property outside of Canada but my sister lives in it and I do not generate income, do I need to file T1135

  • April 4, 2023
  • 1 reply
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    1 reply

    J
    Jurisa1
    April 4, 2023

    According to Canada Revenue Agency (CRA), Form T1135, must be filed by: Canadian resident individuals, corporations, and certain trusts that, at any time during the year, own specified foreign property costing more than C$100,000. 

     

    If the foreign property you own is valued at more than C$100,000 at any time during the year, then you have to file the T1135 form, also known as the Foreign Income Verification Statement.

     

    For more information, please see TurboTax webpage: T1135 Tax Form: Foreign Income Verification Statement

     

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