Your Cryptocurrency May Be Foreign Property, and Failure to File Form T1135 Could Result in Severe Penalties
Canadian resident individuals, corporations, and certain trusts have to file a unique form called Form T1135 if, at any time during the year, they owned foreign property costing more than $100,000. There are significant penalties for failure to file Form T1135 or for making a false statement or omission. The maximum penalty could be anywhere […]
