tag:blogger.com,1999:blog-4751610667110065763.post5480836376994561725..comments2023-10-13T14:07:08.908-04:00Comments on HowtoInvestOnline: Foreign Income & Assets - Avoid Nasty T1135 TroubleCanadianInvestorhttp://www.blogger.com/profile/05645767559302303541noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-4751610667110065763.post-9034276985387127752013-04-29T12:50:27.909-04:002013-04-29T12:50:27.909-04:00Anon, good question. I think the answer is that th...Anon, good question. I think the answer is that the relevant figure is the cost of the call options themselves not the value of the stock exposure, since the option gives the right, not the obligation, to buy. This is in contrast to the example in the CRA's FAQ where a property is purchased for $50 down but is worth $500k; in that case the T1135 must be submitted. see http://www.cra-arc.gc.ca/tx/nnrsdnts/cmmn/frgn/1135_fq-eng.html#Question19. <br /><br />A certain adrian2 expressed this opinion as well in this Financial Webring thread http://www.financialwebring.org/forum/viewtopic.php?f=32&t=110637&start=75. Calling the CRA might or might not get you a confirming answer, or, as suggested in the post, talk to an accountant for a professional opinion. Again, note, I am not an accountant. In case of doubt, the safe action is to file the T1135.CanadianInvestorhttps://www.blogger.com/profile/05645767559302303541noreply@blogger.comtag:blogger.com,1999:blog-4751610667110065763.post-68131127003851761892013-04-29T09:50:02.759-04:002013-04-29T09:50:02.759-04:00Thanks for this discussion. Regarding specified fo...Thanks for this discussion. Regarding specified foreign property CRA document says something like an interest or a right to any specified foreign property. If you held 2 call options with a strike price of over $500( Example Apple),do you need to fill T1135 even though your cost of owning the option is not much?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4751610667110065763.post-41034424959090583782013-04-27T10:53:04.543-04:002013-04-27T10:53:04.543-04:00This comment has been removed by the author.Simonhttps://www.blogger.com/profile/12183829413678979869noreply@blogger.comtag:blogger.com,1999:blog-4751610667110065763.post-3467882344794067332013-04-27T10:52:24.579-04:002013-04-27T10:52:24.579-04:00Thanks, this is a great about about the T1135 situ...Thanks, this is a great about about the T1135 situation. My biggest concern was whether Vanguard ETFs held in a Canadian brokerage would be subject to this requirement. It looks like the answer is a clear yes.. which leaves only a few more days to file the T1135 before the deadline.Simonhttps://www.blogger.com/profile/12183829413678979869noreply@blogger.com