Foreign Income and Assets
Understand your tax obligations for foreign property, income, and international reporting requirements.
By Arani1 author4 articles
- What is Specified Foreign Property?Specified foreign property includes all assets held outside Canada that must be reported to the CRA if their total cost exceeds $100,000 CAD
- What is a T1135?The T1135 – Foreign Income Verification Statement is a CRA form to report specified foreign property if its total cost exceeds $100,000 CAD
- Foreign Income vs. Foreign Tax Credit: Do I Need to Fill Out the T2209?Use T2209 only if you paid foreign tax; otherwise, report foreign income under "Other Income."
- T776 Foreign Postal Code Issue: What to Do When CRA Doesn’t Accept Your AddressExplains how to handle foreign postal codes on the T776 form by using the CRA-required placeholder format A1A 1A1 to successfully submit your return without affecting your tax filing.