Form T1159 Income Tax Return for Electing Under Section 216 - Canada

Form T1159 is used by individuals who want to elect under Section 216 of the Canadian Income Tax Act. This section allows non-residents of Canada to report their rental income from Canadian real property. This form is used to calculate and report the tax liability on this rental income.

The Form T1159 Income Tax Return for Electing Under Section 216 in Canada is filed by non-resident individuals who earn rental income from Canadian real property.

FAQ

Q: What is Form T1159?
A: Form T1159 is an Income Tax Return for Electing Under Section 216 in Canada.

Q: Who needs to file Form T1159?
A: Individuals who are non-residents of Canada but earn rental income from Canadian property need to file Form T1159.

Q: What is the purpose of Form T1159?
A: The purpose of Form T1159 is to report rental income earned from Canadian property and make the election under Section 216 of the Canadian Income Tax Act.

Q: When is Form T1159 due?
A: Form T1159 is due on or before June 30th of the year following the tax year.

Q: Are there any penalties for not filing Form T1159?
A: Yes, there are penalties for not filing Form T1159. The penalty can be up to 10% of the amount of tax that was owed at the time of the due date.

Q: Can I e-file Form T1159?
A: No, Form T1159 cannot be e-filed. It must be filed by mail or fax to the CRA.

Q: Do I need to include supporting documents with Form T1159?
A: Yes, you need to include supporting documents such as rental agreements, rental income and expenses, and a copy of the non-resident's passport or other identification.

Q: Can I get an extension to file Form T1159?
A: No, extensions are not granted for filing Form T1159. It must be filed on or before June 30th of the year following the tax year.