Published: September 3, 2020
All Canadian residents with offshore assets with a cost of more than $100,000 are required to file a CRA form T1135 on an annual basis. The T1135 reports all offshore assets, their jurisdiction, their type and any income earned. There are penalties for failure to file. The CRA Voluntary Disclosure Program (VDP) is available if the form has not been filed.
Disclaimer:
"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."
