Foreign property insurance policy included in T1135?

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skoper
Posts: 38
Joined: Wed Aug 26, 2009 9:15 pm

Foreign property insurance policy included in T1135?

Post by skoper »

Does homeowner's insurance have to be included in Sec 6 of T1135? Nearly any discussion about insurance and T 1135 is in regards to life insurance policies. If so, does anyone know how to determine the cost of this policy?
SM
Posts: 94
Joined: Fri Mar 20, 2015 3:43 pm

Post by SM »

In my opinion this would NOT have to be included on the T1135. The Cost amount is defined in subsection 248(1) of the Act and generally would be the acquisition cost of the property. In other words the ACB. There is no ACB or cost amount associated with homeowner's insurance.
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