Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
An in-depth review of complex foreign reporting and filing for Canadian taxpayers.
This online seminar covers the recently revised T1134 filings to report investment in foreign affiliates, T106 filings to report transactions with related non-residents and T1135 filings for disclosure of foreign properties. The revised T1134 Form is much more complex and requires a more comprehensive disclosure of information which could mean higher risk of a CRA audit. The complexity of the form and detail required will likely pose challenges for even the most experienced tax professionals.
Discussions topics will include tips, tricks and traps of how to identify tax issues when completing these complex forms and red flags that can raise a CRA audit.
There will also be a review of updates to the Canada Revenue Agency's (CRA) recent audit activity to identify unreported and undisclosed foreign assets and income. A refresher on the CRA's voluntary disclosure program (VDP) will be discussed, as well as the purpose and objective of VDP, conditions of a valid application and the two categories of VDP.
Key Takeaways
By the end of this course you will learn:
- A step-by-step walk through of the T1134, T106 and T1135 Forms.
- Understand the changes made to the revised T1134 Form and their implications.
- Identify tax issues and exposures when preparing T1134, T106 and T1135 Forms.
- Review techniques used by the CRA to identify unreported and undisclosed foreign assets and income.
- Understand the five conditions for a valid VDP application.
Who Will Benefit
CPAs and tax practitioners looking to gain a new perspective and refresher on Canadian foreign income reporting and voluntary disclosure requirements.
How to Access the Course
This course is delivered as a live webinar. To receive verifiable CPD hours, you must attend the session live. We recommend joining at least 5 minutes before the scheduled start time. For the best interactive experience, please use a computer equipped with a camera and microphone.
A reminder email with the Zoom link and course details will be sent two business days before the session. If you do not receive it, please check your spam or junk folder.
The same information, including any available materials, will also be posted in advance on our Blackboard LMS.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Affan Khalid has over 15 years of public experience and provides international tax advice to Canadian and foreign-based multi-nationals with a focus on inbound and outbound tax planning and structuring, including financing structures, acquisitions and dispositions, tax due diligence, reorganizations, and repatriation strategies. He obtained his BBA from the University of Toronto and has completed the in-depth international course and in-depth tax program.