Canadian investors may need to report foreign assets costing over $100,000

The filing rule looks at what you paid for specified foreign property, not what it is worth now.

If the total cost goes over $100,000 at any point in the year, you may need to file a T1135 with the Canada Revenue Agency.

Foreign shares in a non-registered Canadian account can count, while investments in registered accounts such as TFSAs and RRSPs are exempt.

Missing a required filing can lead to penalties.