June 27, 2013

Share on:

The Canadian Government continues to crack down on Canadian residents attempting to avoid income tax by moving their investments offshore and failing to report the offshore income on their Canadian income tax return. The government today announced a major revision of the Form T1135 Foreign Income Verification Statement to give the Canada Revenue Agency (CRA) more information about a Canadian resident’s offshore investment holdings.

For more information on these new requirements for Canadians have a look at the CRA webite here.

Sign up to receive our newsletter