# T1135 for iShares (eg XSP) or Claymore (eg CBQ)



## martin64 (Apr 20, 2012)

Hi

Concerning the T1135 that needs to be submitted, if one owns more than CA$100k of foreign assets:

Do ETFs that trade on the TSX need to be included in the calculation of the $100k amount?
eg: XSP (iShares S&P index ETF), or CBQ (Claymore BRIC ETF) contain 100% foreign assets, but the ETF's themselves are traded on the TSX.

In the calculation of foreign assets, do these shares need to be included? Or, are they considered as Canadian assets because they are Canadian ETF's traded on the TSX?

I am trying to avoid the risk of fines here for not submitting T1135, on the off-chance that it is required in a case like this.

Thanks,

martin64


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## CanadianCapitalist (Mar 31, 2009)

My understanding is that ETFs trading on the TSX are not considered specified foreign property.


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## martin64 (Apr 20, 2012)

*Thanks*



CanadianCapitalist said:


> My understanding is that ETFs trading on the TSX are not considered specified foreign property.



Thanks very much, Canadian Capitalist. I thought this was the case, but always better to check with someone, to avoid a pesky $2500 fine from CRA.

PS: I enjoy your 'Canadian Capitalist' site very much; have been a semi-regular reader for some time

martin64


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## andrewf (Mar 1, 2010)

What about interlisted US domiciled funds like VXX?


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## kcowan (Jul 1, 2010)

If it is held in a Canadian account, it should be OK. If you hold a US account (not USD Canadian), then the book value needs to be reported.


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