T1135
The Canadian form for reporting specified foreign property costing more than CAD 100,000 in total at any time in the year. A rented Dubai home usually counts.
What T1135 means for a buyer
Form T1135, the Foreign Income Verification Statement, is filed with the Canada Revenue Agency when the total cost of a resident's specified foreign property exceeded CAD 100,000 at any time in the year. The CRA's questions and answers on the form (modified 19 October 2026) say the test uses cost, not market value, and that holdings are added together.
Real property outside Canada is specified foreign property unless it is personal-use property, which the CRA reads as more than 50% personal use. In its examples, a property rented about eight months a year with a reasonable expectation of profit must be reported, while a holiday home used mainly for personal enjoyment is excluded. Penalties apply for late or inaccurate filing, and the CRA's reassessment period is extended by three years where foreign property income goes unreported and the form was not filed correctly.
Related terms
Guides that use this term
Where T1135 comes up in practice, with the costs, rules and steps around it.
Questions about the buying process?
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