Hello All,
Have a question regarding form T1161. My wife is in a situation where she does not have any property that is required to be listed on form T1161. She is the owner of the RESP which had a value of $25,000 or more when we left Canada last year plus she has RRSP as well. So the total value is more than $25,000 but it is all in the list of excluded properties.
My question is whether to file the form T1161 anyway. Just simply fill the top portion and put N/A in the table part. I'm simply trying to be thorough and make sure I file all the forms they are expecting from someone who leaves Canada.
Would it hurt anything if the form has N/A in it and just the top is filled out?
Thanks for anyone's advice on this!
File blank form T1161 - leaving Canada
Moderator: Mark T Serbinski CA CPA
the instructions state that you do not have to file if the includable assets are less than $25K.
That is not been thorough, since it would mean you ignored the instructions.
That is not been thorough, since it would mean you ignored the instructions.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best