I have a vacation property outside Canada and it is never rented out. The cost is greater than $100,000 CAD. Do I have file form T1135 with my personal tax return for this property?

Allan Madan, CA

Oct 30, 2013

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No, as long as the property is solely used personally, it is not required to be reported on T1135.

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The information provided on this page is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided on this page.

ABOUT THE AUTHOR

ALLAN MADAN

CA.CPA.CGA

Allan Madan is a CPA, CA and the founder of Madan Chartered Accountant Professional Corporation. Allan provides valuable tax planning, accounting and income tax preparation services in the Greater Toronto Area.

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