Hello,
I did my landing in 2014 and have declared taxes since then, (even though I don't reside in Canada full time but my family do and that makes me have ties to the country)
I am about the fill in the t1135 form and it is quite confusing to say the least. I have funds invested in a business outside Canada that are worth a significant amount however they are not in my name but I do have an agreement with the partner that upon closure of the business I will get my share. The only problem is how do I declare it and bring it in to Canada without it being taxed. Do I put it on the form now even though technically they are not with me as yet or and I have nothing to show for it - except a piece of paper from the partner .....?
Confused. Any insight appreciated.
I did my landing in 2014 and have declared taxes since then, (even though I don't reside in Canada full time but my family do and that makes me have ties to the country)
I am about the fill in the t1135 form and it is quite confusing to say the least. I have funds invested in a business outside Canada that are worth a significant amount however they are not in my name but I do have an agreement with the partner that upon closure of the business I will get my share. The only problem is how do I declare it and bring it in to Canada without it being taxed. Do I put it on the form now even though technically they are not with me as yet or and I have nothing to show for it - except a piece of paper from the partner .....?
Confused. Any insight appreciated.
