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New Member
posted Apr 4, 2023 5:05:55 AM

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

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Level 4
Apr 4, 2023 8:37:41 AM

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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