Foreign Income Verification StatementA) Individuals who own specified foreign property with a total cost of less than $250,000 throughout the tax year can choose to complete either the simplified reporting method or the detailed reporting method.
B) If the total cost of all specified foreign property held at any time during the tax year amounted to $ 250,000 or more, you are required to complete the detailed method.
Companies, trusts, and certain partnerships must always paper file the T1135 and submit it separately.
For more information on this topic, please consult the following links:
https://www.canada.ca/en/revenue-agency/services/forms-publications/forms/t1135.html
Please note that newcomers to Canada in the taxation year are not required to file Form T1135.
If you have foreign property with a total cost exceeding $ 100,000 (CAD), please follow these steps:
1. In the left-side menu on the "Interview tab", select the item "CRA questions" and for the question "Did you own foreign property in 2019 with a total cost over CAN $100,000", reply ''Yes", complete the page and click "Next "at the bottom.
2. Return to the left side of the page and select "Interview setup" and go to the "Investment income and expenses" group, Check the box "Foreign income or foreign property (T1135)" and click "Next" at the bottom of the page.
3. Return to the left-side menu on the "Interview tab", select "Foreign income & property" and on the screen to your right, choose the line ''T1135 Foreign Income Verification Statement: You owned foreign property with a total cost over CAN $100,000".
4. On the page that appears ''T1135 - Foreign income verification statement'', for the line "Select the reporting method", choose the reporting method from the drop-down menu that applies to your situation.
5. Then, enter the requested information.The T1135 will be generated by the program.
To file your T1135 electronically via NETFILE or EFILE, follow the steps below:
1. Go to tab # 5 "NETFILE" or "EFILE" and in the left side column, select "Federal T1135 submission".
2. On the page entitled "T1135 e-submission", for NETFILE users, go to the section "Terms and conditions" and check mark "I agree with the above Terms and conditions".
3. Click "File the T1135 now". You will receive a confirmation number, that you must keep in your records for future reference.Also, you can mail the T1135 - Foreign Income Verification Statement, if you wish, and at the same date as your federal return.
Winnipeg Taxation Centre
Data Assessment & Evaluation Programs
Validation & Verification Section
Foreign Reporting Returns
66 Stapon Road
Winnipeg MB R3C 3M2ID: 20191220091932MA.xml
Webpage: KPA360-20191220091932MA.htm