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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