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Does your foreign real estate have to be declared on T1135?

Form T1135 Foreign Income Verification Statement must be filed when a Canadian taxpayer answers 'yes' to the question "Did you at any time in the year own specified foreign property valued at over $100,000 (CAD)?" Watch: Foreign Property and the T1135 However, some real estate is considered exempt from this question, and therefore doesn't trigger [...]

Foreign Property Worth Over $100,000 CAD

 In the last few years you have probably noticed a question on your Canadian income tax return asking if you owned any foreign property: "Did you own or hold specified foreign property where the total cost amount of all such property at any time, in the tax year, was more than $100,000 CAD?" What [...]

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