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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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.