My_question_is: Canadian-specific
Subject: Forgot to file T1161 when we left in 2001
Expert: taxman at centa.com
Date: Saturday April 02, 2005
Time: 08:41 AM -0800
QUESTION:
We left Canada for Hong Kong in 2001, in reading your articles I realized
that our accountant didn't ask us to file form T1161 when we left. What
should we do now? we are planning to come back to Canada in 4 yrs time.
Nobody told us about the importance of filing that form not even the tax
office in their communication with us and our accountant.
Your help is very much appreciated.
Thanks
====================
david ingram replies:
The T1161 has a minimum penalty of $2,500 at this point (100 days at $25.00
per day).
You should file it late and tell the story to the CRA and ask for no penalty
under the FAIRNESS LEGISLATION because no one including the CRA mentioned it
to you.
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