"statement of assets and liabilities"
By Marc Sevitz · Updated
Hi Tim,
"statement of assets and liabilities"
I dont remember seeing the field for motor vehicles on previous tax returns. Is it necessary to declare motor vehicles. . ?
Also: cash in bank accounts and personal effects. . . ?
thanks!
"statement of assets and liabilities"
I dont remember seeing the field for motor vehicles on previous tax returns. Is it necessary to declare motor vehicles. . ?
Also: cash in bank accounts and personal effects. . . ?
thanks!
Yes, you need to include the cost/purchase price of motor vehicles in your Statement of Assets and Liabilities. This is not a new requirement.
You also need to declare cash balance at year end and include an estimate of your personal effects (i.e jewellery, paintings, furniture)
You also need to declare cash balance at year end and include an estimate of your personal effects (i.e jewellery, paintings, furniture)