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Below is a collection of all our informative tax and financial related articles to help keep you up to date on tax and general financial related affairs.
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When handling your income taxes, it is extremely important that you file an accurate tax return and make payments on a timely basis. Failure to do so can result in the assessment of additional interest payments and late-filing back tax penalties.
Form T1135 is called the Foreign Income Verification Statement and must be filled out by Canadian taxpayers who own foreign assets with a cost of more than $100,000 in non-registered accounts. This form is used by the Canada Revenue Agency (CRA) to combat individuals trying to evade income taxes by hiding their assets in offshore accounts.
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