Foreign Income Verification Statement
A) 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 3M2
ID: 20191220091932MA.xml
Webpage: KPA360-20191220091932MA.htm
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