{"id":68,"date":"2021-07-03T19:22:00","date_gmt":"2021-07-03T19:22:00","guid":{"rendered":"https:\/\/ycaccounting.com\/?page_id=68"},"modified":"2021-07-03T19:22:04","modified_gmt":"2021-07-03T19:22:04","slug":"what-foreign-property-do-you-have-to-report","status":"publish","type":"page","link":"https:\/\/ycaccounting.com\/?page_id=68","title":{"rendered":"What Foreign Property Do You Have to Report?"},"content":{"rendered":"\n<p>You only have to report property that is specified foreign property.<\/p>\n\n\n\n<p><strong>Specified foreign property includes:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>funds in foreign bank accounts;<\/li><li>shares of Canadian corporations on deposit with a foreign broker;<\/li><li>shares of non-resident corporations held by the resident filer or on deposit with a Canadian or foreign broker;<\/li><li>land and buildings located outside Canada, such as a foreign rental property;<\/li><li>precious metals, gold certificates, and futures held outside Canada;<\/li><li>interests in mutual funds that are organized in a foreign jurisdiction;<\/li><li>debts owed by non-resident persons, such as government or corporate bonds, debentures, mortgages, and notes receivable;<\/li><li>an interest in or a right to any specified foreign property;<\/li><li>property that is convertible or that can be exchanged for a right to acquire specified foreign property;<\/li><li>an interest in a partnership where the share of income or loss of the partnership for non-resident members is 90% or more and the partnership holds specified foreign property;<\/li><li>an interest in a non-resident trust or a non-resident trust deemed to be resident by section 94 of the Act (discretionary trust);<\/li><li>patents, copyrights or trademarks held outside Canada; and<\/li><li>an interest in, or a right with respect to, an entity that is non-resident.<\/li><\/ul>\n\n\n\n<p><strong>Specified foreign property does not include:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>property used or held exclusively in the course of carrying on an active business;<\/li><li>personal-use property (i.e., property used primarily for personal use and enjoyment, such as a vacation property used primarily as a personal residence);<\/li><li>an interest in a U.S. Individual Retirement Account (IRA);<\/li><li>shares of the capital stock, or indebtedness, of a non-resident corporation that is a foreign affiliate;<\/li><li>an interest in, or indebtedness, of a non-resident trust that is a foreign affiliate;<\/li><li>an interest in a non-resident trust that neither you nor a person related to you had to pay for in any way;<\/li><li>an interest in a non-resident trust principally providing superannuation, pension, retirement or employee benefits primarily to non-resident beneficiaries, that does not pay income tax in the taxing jurisdiction where it is resident; or<\/li><li>an interest in, or a right to acquire any of the above-noted excluded foreign property<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>You only have to report property that is specified foreign property. Specified foreign property includes: funds in foreign bank accounts; shares of Canadian corporations on deposit with a foreign broker; shares of non-resident corporations held by the resident filer or on deposit with a Canadian or foreign broker; land and buildings located outside Canada, such&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"class_list":["post-68","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/ycaccounting.com\/index.php?rest_route=\/wp\/v2\/pages\/68","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ycaccounting.com\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/ycaccounting.com\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/ycaccounting.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ycaccounting.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=68"}],"version-history":[{"count":1,"href":"https:\/\/ycaccounting.com\/index.php?rest_route=\/wp\/v2\/pages\/68\/revisions"}],"predecessor-version":[{"id":69,"href":"https:\/\/ycaccounting.com\/index.php?rest_route=\/wp\/v2\/pages\/68\/revisions\/69"}],"wp:attachment":[{"href":"https:\/\/ycaccounting.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=68"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}