๐Ÿ‡จ๐Ÿ‡ฆ Canadian Term

T1135

The paperwork that kicks in past $100,000

term

A form the Canada Revenue Agency requires Canadian residents to file if the total cost of specified foreign property they hold exceeds $100,000 CAD at any point in the year, typically in a non-registered account.

In Plain English

Once your foreign holdings โ€” things like US-listed stocks, foreign bank accounts, or foreign rental property โ€” add up past $100,000 CAD in cost (not just value), the CRA wants a report disclosing what you own and where. It's a disclosure requirement, not a tax in itself, but missing it carries real penalties.

What Usually Doesn't Count

Canadian-listed ETFs that happen to hold foreign stocks (like a Canadian S&P 500 ETF) generally do not count toward the threshold, since legally you're holding a Canadian security โ€” even though the underlying companies are foreign. Holdings inside RRSPs and TFSAs are also excluded. It's specifically about directly-held foreign property in non-registered accounts.

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