Friend fined $10,000 for late T1135 filing
Friend fined $10,000 for late T1135 filing Key Points A $10,000 fine was imposed for late filing of the T1135 form, which reports foreign assets. The T1135 form is mandatory for Canadians with foreign property exceeding CAD 100,000. Failure to file the T1135 on time can result in significant penalties, even if no tax is…