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This version of the form is not currently in use and is provided for reference only. Download this version of
Form T1178
for the current year.
Form T1178 General Index of Financial Information - Short - Canada
Form T1178 General Index of Financial Information - Short is used in Canada to summarize financial information related to a business or corporation. It helps in organizing and reporting key financial details for tax purposes.
FAQ
Q: What is Form T1178?
A: Form T1178 is the General Index of Financial Information - Short form used in Canada.
Q: Who needs to file Form T1178?
A: Canadian taxpayers who have foreign properties with a total cost amount of over $100,000 CAD in a calendar year.
Q: What information is required to be reported on Form T1178?
A: Form T1178 requires details about the taxpayer, the foreign property, and the income generated from that property.
Q: When is the deadline to file Form T1178?
A: The deadline to file Form T1178 is the same as the taxpayer's income tax return deadline, which is typically April 30th.
Q: Is Form T1178 only for individuals?
A: No, Form T1178 is also required to be filed by partnerships, corporations, and trusts that have foreign properties.
Q: What happens if I fail to file Form T1178?
A: Failure to file Form T1178 may result in penalties and interest charges imposed by the Canada Revenue Agency (CRA).
Download Form T1178 General Index of Financial Information - Short - Canada
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