Why the CRA penalized a taxpayer for late filing even though he owed no tax
Financial Post ·
Jamie Golombek: Missing the T1135 deadline could cost you, as one taxpayer found out
If you file your tax return late, you will generally only face a penalty if there is an amount owing on your return. But, if you happen to own certain foreign property , you can be hit with a late-filing penalty from the Canada Revenue Agency for simply failing to file Form T1135 , the Foreign Income Verification Statement, on time. Read More