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Form T1135

CRA Requests for Details on Canadians Mentioned in Panama Papers

July 6, 2016

The recent “Panama Papers” leak brought to light the offshore financial dealings of various well-known individuals around the world, including many Canadians. The Canada Revenue Agency (CRA) has decided to pursue these revelations to identify not only the Canadians involved in these activities but also whether these Canadian residents were using offshore havens to avoid...

Canada Us Tax corporate CRA personal taxes small business

New and Improved Form T1135

July 4, 2016

In the recent years, every country has been passing stringent laws to monitor foreign investments by their country’s citizens/taxpayers to prevent tax evasion through foreign investments. The Canadian government introduced Form T1135 a few years ago to prevent Canadian taxpayers from evading taxes, and since then, Canada Revenue Agency has been in a continuous process...