CRA amends T1135 to require more detailed foreign income reporting, to "crack down" on cheating

An amended T1135 form contains more detailed reporting requirements, including:

• the name of the specific foreign institution or other entity holding funds outside Canada;
• the specific country to which the foreign property relates; and
• the income generated from the foreign property.

The new requirements flow from a CRA strategy "to crack down on those who attempt to cheat the system."

Scott Armstrong.  Summary of T1135, Foreign Income Verification Statement under s. 233.3(3).