On December 3, 2015, CRA has implemented changes to Form T1135, Foreign Income Verification Statement for the 2015 and subsequent tax years. The changes will allow taxpayers, who held specified foreign property with a total cost amount of less than $250,000, throughout the year, to report under a new simplified …
CRA reminds us of the following changes in 2014 tax year: Children’s fitness amount – Under proposed changes, the maximum amount of eligible fees for each child has increased to $1,000. Search and rescue volunteer amount – As a search and rescue volunteer, you may be able to claim an …
Effective for 2014 Tax year, the following changes apply to individual and family. 1. New changes to T1135 “Foreign Income Verification Statement” a) Canadian resident individuals, corporations, and trusts that, at any time during the year, own specified foreign property costing more than $100,000 has to file an expanded T1135 …
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