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Gabriel

Form T1135 - Foreign Income Verification Statement

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Form T1135 must be printed, dated, signed and mailed to the following address whether you produced your return on paper or electronically.

 

Ottawa Technology Centre

Data Assessment and Evaluations Program

Foreign Reporting Unit

875, Heron Road

Ottawa ON K1A 1A2

 

Form T1135 must be filed annually on or before the due date of your income tax return.

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Gretzky99

 

The T1135 separate filing mailing is very critical & unfortunately not well known

The penalties are very severe, crazy

A relative paid thousands for not submitting (must be mailed) the form ( didn't know)?

They had declared all the income & paid all the tax on their tax forms on time.

However they only failed to submit the extra separate T1135 to the technology center

Base on this, they appealed, wrote letters to the politicians etc to no avail

The foreign holdings were not large and all taxes were paid up on time!

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Beginning in tax year 2013, taxpayers who hold foreign property of a total cost exceeding $ 100,000 (CAD) at any given time during the tax year will have to provide more information to the Canada Revenue Agency.
 

For more information on this topic, please consult the following links:
 

http://www.cra-arc.gc.ca/E/pbg/tf/t1135/

http://www.cra-arc.gc.ca/tx/nnrsdnts/cmmn/frgn/1135-eng.html
 

The T1135 cannot be filed electronically. A printed copy must be sent to the following address, before April 30th.
 

Ottawa Technology Centre
Data Assessment and Evaluations Program
Foreign Reporting Unit
875 Heron Road
Ottawa ON K1A 1A2
 

Newcomers to Canada in the taxation year are not required to file Form T1135.
 

If you have foreign property of a value exceeding $ 100,000 (CAD), please follow these steps:
 

1. In the "QuikClik Navigator" to the left of the screen, select the item "CRA questions" and for the question "Did you own foreign property in 2013 with a total cost over CAN $100,000? " reply ''Yes", complete the page and click "Next "at the bottom.

2. In the "Income" section of the "Interview setup", check the "Foreign income or foreign property (T1135)" box and click "Next" at the bottom of the page.

3. Again in the "QuikClik Navigator ", select "Foreign income & property" and on the screen to your right, choose the line ''T1135 Foreign property reporting: You owned foreign property with a total cost over CAN $100,000"

4. On the page that appears ''Foreign property reporting (Form T1135)'' enter the required information. 

5. If you have to use one or more additional pages, click on "Add another +" and an additional page will appear.
 

You can file your federal return using NETFILE and, for Quebec residents, you can file your return using NetFile Quebec. However, remember that you must send the T1135 form by mail to the above address.

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Last year (2012) my tax expert had a different form layout where there were types of properties (one being Funds held outside CA) and you only had to check box in the column that corresponds with one's amount , e,g +1mil, +700k, +500k, etc...there was no specific bank and actual balances needed to be provided...

Now they are asking more information...making life more difficult..

 

QUESTION:

 what do they mean by income(loss) field?

I know the maximum balance at one point in the year and end of year balance...

 

Thanks

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Income or loss (options 1,2,3,5 and 6 only)

 

If the 2013 transitional reporting method is being used for the category 6 (Other property outside of Canada), provide the following information:
 

Income (loss) - provide the total income earned on all specified foreign property held in that account (or by the unit trust) at any time during the particular tax year.

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I might be in the wrong thread to ask this question but I have a question regarding foreign income. 

To report income received in U.S dollars would I say yes to the question regarding foreign property. 

The income I receive is usually very small no more than 500 dollars

 

Thanks 

Jeff Schwan 

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I have followed all the instructions here on filing the T1135 and I've yet to figure out how to get the form to print!  Additionally pg2 of the condensed form has nothing checked off for the foreign property (line 266).  I think there's a bug in the software.

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Printing - CRA copy only
 

If you only want to print the pages that you need to mail to the CRA, proceed as follows:
 

1. Go to the "Tax Return" page (if it's inactive, click the "Results" tab to calculate.
2. Select "File" from the menu.
3. Select "Print tax return and forms".
4. Select the person to print.
5. For "Select pages to print", choose "Federal tax return only".
6. Click the "Start printing" button.

The option "Federal tax return only" will only print the pages required for filing to the CRA.

Concerning your second point, I am not aware of any bug, it is probably a data entry problem. Please send a request to support@ufile.ca so we can take a look at the return. Thank you.

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Printing - CRA copy only

 

If you only want to print the pages that you need to mail to the CRA, proceed as follows:

 

1. Go to the "Tax Return" page (if it's inactive, click the "Results" tab to calculate.

2. Select "File" from the menu.

3. Select "Print tax return and forms".

4. Select the person to print.

5. For "Select pages to print", choose "Federal tax return only".

6. Click the "Start printing" button.

The option "Federal tax return only" will only print the pages required for filing to the CRA.

 

Concerning your second point, I am not aware of any bug, it is probably a data entry problem. Please send a request to support@ufile.ca so we can take a look at the return. Thank you.

 

 

I've already printed up the entire tax return and there's no T1135 included.  The page doesn't exist at all under "Tax Return".

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Please send the request to support@ufile.ca so we can examine the return and find out why the T1135 is not being generated. Thank you.

 

Should I send the return as a PDF?  How can you examine the return?

 

EDIT:  Nevermind, I got a reply from support@ufile.ca with the instructions on how to do it.

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UFile for Windows: Service - Getting a copy of the tax file
 

It would be very helpful to view a copy of your tax file. This will allow us to help you resolve this issue.

To allow this, please go back to your tax file, access the "Help" menu on the top bar and select "Support Assistant".

Click "Next" twice to advance to page 3, enter your email address and select a topic under "Select the most relevant category".

In the box, "If this is a follow-up, please enter your UFile request number here", enter the request number that appears in the subject line of this email (UBXXXXX) and then tick "Send a copy of your tax file..." in the box that will appear.

Finally, click "Submit request" to send your request to our support staff.

Our support staff is likely to find solutions to a problem faster if they can review the tax information you have entered in your file.

No need to worry about the confidentiality of the information provided. It will only be used to help our support staff resolve the problems you have reported and this temporary copy will be automatically destroyed after 72 hours.
_______________________________________

UFile ONLINE: Service - Viewing a copy of the tax file
 

To look into this issue, it would be very helpful if we could have access to view your tax file. In order to do this, please follow these steps:
 

1. Login to UFile ONLINE
2. Select "Help".
3. Choose "Support request form".
4. Answer the questions.
5. In the box, "If this is a follow-up, please enter your UFile request number here", enter the request number that appears in the subject line of this email (UFXXXXX).
6. Be sure to check the box "Check to authorize UFile to VIEW your tax file." *
 

* Our support staff is likely to find solutions to a problem faster if they can review the tax information you have entered in your file.

If this box is checked when you submit your support request to UFile ONLINE, a copy of your tax information will be generated and stored in a secure area where access is restricted to our authorized support staff. This process takes place behind our firewalls and your data is not exposed to the insecure Internet at any time. Your tax information is not sent to our staff as an email attachment.
 

Your information will only be used to help our support staff resolve the problems you have reported, and will be automatically destroyed after 72 hours.

 

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I have to file form T1135. UFILE says in the Results tab that the form must be mailed.

However, CRA says "As of February 9, 2015, individual taxpayers will be able to file this form electronically for the 2014 tax year." How can I file the form on-line?

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For any future readers, this was my problem:

 

The reason Form T1135 is missing is because you selected "No" for the first entry "Complete the T1135 Foreign income verification statement".
Select "Yes", the form will show in your Return.

 

 

It's total nonsensical UI for you to be able to request to fill out that form and then have the first question invalidate your earlier request.  I seemed to have been stung by the same issue this year and had to look back at my emails from support to figure it out.

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Filing by internet (EFILE or NETFILE)

Individuals can file Form T1135 electronically for the 2014 taxation year. Corporations, trusts and partnerships are required to file a paper copy of this form.

EFILE – Your EFILE service provider, including a discounter, can complete and file your Form T1135 for you if prepared with tax preparation software certified by the CRA for the internet filing of Form T1135. For more information or to file your Form T1135, go to EFILE at www.cra.gc.ca/efile.

NETFILE – You can file your Form T1135 by Internet if prepared with tax preparation software certified by the CRA for the internet filing of Form T1135. Most individuals are eligible to NETFILE. For more information or to file your Form T1135, go to NETFILE at www.cra.gc.ca/netfile

 

Doesn't this mean that it is possible to do, but from the discussions, UFILE didn't implement this feature?

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