CANADA: Foreign property reporting
If you own foreign property, remember your reporting obligations. You must file Form T1135, Foreign Income Verification Statement, on time. There are substantial penalties for failing to complete and file Form T1135 accurately and on time.
Threshold
You have to file Form T1135 if you are a Canadian resident and, at any time in the year, own specified foreign property costing more than $100,000.
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Thanks for the info. I will share it with my friends to.