Q: My spouse and I have a joint investment account and any capital gain/loss or income generated in this account is reported on a 50/50 basis.
We currently hold 3 CDR in the account for a total ACB of $180,000 CAD.
Can we assume that individually we own $90,000 worth of foreign property and skip filling form T1135 or do we have to file because the account itself is over the $100,000 threshold?
We currently hold 3 CDR in the account for a total ACB of $180,000 CAD.
Can we assume that individually we own $90,000 worth of foreign property and skip filling form T1135 or do we have to file because the account itself is over the $100,000 threshold?