dishwashing

Scotiabank and others do offer a % discount for Turbotax and others, so check on that I guess too if you want to use it.

izzi - glad it all went through at last!

chiefmissile

Hi,

I am engaging my Accountant to file my and my wifes T1135. My accountant says that I have to submit all my 2014 UK bank statements with my T1135, is this right? My UK current account has less than £10,000 and is a joint account?

I have beneficial interest of 99% of our UK property, meaning my wifes owns 1%. Does she need to complete the T1135 as 1% of our UK property and 50%of our Spanish property does not amount to more than $100,000 for her?

Do we need to report UK life insurance policies?

Thanks in advance

Drew

Aviator

The $100k is an aggregate amount, not each if individual is under 100K. If you have 10 bank accounts each with 12k in them, you have over 100k and have to file a T1135. You have a house and bank account, this all together is over $100k.

Follow the advice of your accountant, as you are paying them, one hopes they know what they are talking about.

For your property, if it is joint ownership, how to you divide the % each holds? CRA may not see it the same way as you. Look at the FAQs on the CRA website for T1135 it covers most situations.

chiefmissile

Thanks for your reply. I showed my accountant (MNP) my UK lawyers Letter that showed the Deed of trust that had been made, where by My wife gave me 99% beneficial interest in our UK property, they seemed perfectly happy with that.

Regards

Drew

JonboyE

Latest release of Profile has e-filing of T1135 for individuals. Yay.

dishwashing

Jonboy, do you help people with individual tax returns professionally?