Did you know the CRA is tracking your investment activities in Foreign Entities?
The Canada Revenue Agency (CRA) has many tools at its disposal to track the investment of Canadian taxpayers in foreign entities. On December 31, 2012, a new Form T1134 (Information Return Relating to Controlled and Not-controlled Foreign Affiliates) was released, replacing forms T1134A and T1134B.
What is Form T1134?
On the T1134, a taxpayer who resides in Canada (individual, company, partnership or trust) reports details of its controlled and non-controlled foreign affiliates (non-resident corporation or non-resident