T1134: Foreign affiliate Information Return (Business Opportunities - Other Business Ads)
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Item ID 3665044 in Category: Business Opportunities - Other Business Ads
T1134: Foreign affiliate Information Return | |
However, I can provide you with a general summary of the T1134 form and its purpose: The T1134 Foreign Affiliate Information Return is a tax form required by the Canada Revenue Agency (CRA). Canadian residents who own shares in a foreign affiliate corporation or have certain transactions with foreign affiliates are typically required to file this form. Here are key points related to the T1134 form: Reporting obligations: Canadian residents, including individuals, corporations, trusts, or partnerships, who meet the criteria of owning foreign affiliates or having specified transactions with foreign affiliates during the tax year are required to file the T1134 form. Foreign affiliate definition: A foreign affiliate is a corporation that is controlled by the Canadian resident. Control is generally defined as owning at least 1% of the voting shares or a significant influence over the corporation's decision-making. Information required: The T1134 form collects various information about the foreign affiliate, such as its name, address, country of incorporation, ownership details, and financial information. Specified transactions: In addition to reporting foreign affiliate ownership, the T1134 form also covers specified transactions. These transactions include loans, transfers of property, and contributions or withdrawals from foreign affiliates. Filing deadlines: The T1134 form is generally due within 15 months after the end of the taxpayer's tax year. For example, if the tax year ends on December 31, the filing deadline would be March 31 of the following year. However, specific rules may apply based on the taxpayer's circumstances. Penalties: Failure to file the T1134 form or providing inaccurate or incomplete information can result in penalties imposed by the CRA. It's important to consult the specific blog post you mentioned for a more detailed understanding of the T1134 form, as it may provide additional insights, updates, or changes related to filing requirements and procedures. for more information please visit - https://www.maroofhs.com/post/t1134-foreign-affiliate-information-return-how-to-prepare-and-new-changes/ Address Maroof HS CPA Professional Corporation https://www.maroofhs.com/ 4102-85 Queens Wharf Rd, Toronto, ON M5V 0J9 Canada  | |
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| Target Prov.: Ontario Target City : Toronto Last Update : Jul 04, 2023 11:34 PM Number of Views: 35 | Item Owner : Maroof Contact Email: Contact Phone: (647)724-4308 |
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2024-05-09 (0.391 sec)