Who it’s for
What’s included
- Employment income earned abroad
- Foreign pensions
- Foreign investments and accounts
- Rental property outside Canada
- Foreign tax credits
- Foreign property reporting (Definition: T1135 Foreign Income Verification Statement: reports property held outside Canada when its total cost is over $100,000. See the glossary)
Documents to prepare
Tick them off as you go. Nothing is saved or sent.
Missing a document? Call us and we’ll guide you.
Dates to watch
- Personal tax returns · in 6 monthsDefinition: T1 The federal personal income tax return, filed with the Canada Revenue Agency. See the glossary and Definition: TP-1 The Quebec personal income tax return, filed with Revenu Québec. See the glossary returns due, and any 2026 balance owing must be paid.Add to calendar : Personal tax returns, April 30, 2027
Frequently asked questions
Do I report income that was already taxed abroad?
Yes. Canadian residents report their worldwide income. The foreign tax credit generally prevents double taxation.
What is form T1135?
If the total cost of your specified foreign property (accounts, investments, rental property outside Canada) is over $100,000 at any time in the year, you must file a Definition: T1135 Foreign Income Verification Statement: reports property held outside Canada when its total cost is over $100,000. See the glossary. A cottage used personally doesn’t count. Penalties for missing it are significant.
Is my foreign pension taxable in Canada?
Generally yes, but some Definition: Tax treaty An agreement between Canada and another country so the same income isn’t taxed twice. See the glossary provide exemptions or special deductions. We check the treaty that applies to your country.
