Shareholder in a private company

[PeteH]

Was wondering how does one report partial ownership of a private business (located outside of Canada) in personal tax return ? 

There was no any dividend or money received during the whole period while being a shareholder. The company is owned by family member, so names were simply used as one of the shareholders for the private company. There were never any fund received from the company. Only a name was attached as a shareholder. 

How does one go about reporting such "ownership"? 

 

[Maggie3]

Hello PeteH,

Are you requesting information for a foreign tax return or for a Canadian tax return?  We can only provide guidance when using a Canadian tax return. 

Our guidance is limited to the use of our software and "how to" questions. If you have specific tax questions we would suggest a call to the CRA 1-800-959-5525 (Corporate telephone number). You may also engage the services of an accountant. 

[PeteH]

Hi Maggie, 

Thanks for your response. I am referring to the tax return in Canada with a partial ownership to a private company located outside of Canada. In this case, does one need to include the partial ownership in his/her Canadian tax return even though there was never any dividend, salary etc. received from the foreign company (ie. merely hold partial share ownership; no financial involvement to the company)

Thanks,