Hello Community Members,
I have been trying to find answers to two questions related to reporting requirements in Canadian tax returns for the Provident fund (a savings and Retirement fund common in Asian countries India, and Singapore)
1 Does yearly interest earned on a foreign retirement fund need to be declared in a Canadian tax return or it is not required unless the whole amount is withdrawn?
2 Foreign provident fund needs to be reported in form T1135 in category 4 (Interest in Non resident trust)?
I have been trying to find answers to two questions related to reporting requirements in Canadian tax returns for the Provident fund (a savings and Retirement fund common in Asian countries India, and Singapore)
1 Does yearly interest earned on a foreign retirement fund need to be declared in a Canadian tax return or it is not required unless the whole amount is withdrawn?
2 Foreign provident fund needs to be reported in form T1135 in category 4 (Interest in Non resident trust)?