Précis: Mr. Samson and his wife, Ms. Hilliard, owned property in the United States worth more than $100,000 which they did not report in their 2008 to 2011 income tax returns.
They were each assessed $2,500 penalties under subsection 162(7) for each of the years 2008 through 2011 for failing to file forms T1135 in respect of their foreign property by the end of April of the following year as required by section 233.3 of the Income Tax Act (Canada) (the “Act”). [para. [1]]
Samson v. R. - TCC: Penalties for failure to disclose foreign property sustainedPlus >