What Sheng Qian CPA Can Do for Cross-Border Families: From Tax Returns to Foreign Asset Reporting
Services and fees for reporting foreign income, the foreign tax credit, T1135 and T1134, cross-border planning and catching up on past years, how to get started
Scott Tang, CPAUpdated 2026-11-052026 rules4 min read
You live in Canada, but some of your income and assets are still in China or Hong Kong — so every year at tax time you have to keep track of foreign income, tax on both sides and foreign asset reporting all at once, and missing any one of them can mean paying more tax or a penalty. Sheng Qian CPA handles all of these together, files each form by its own deadline, explains things clearly in Chinese and deals with the CRA in English.
Our GTA office, Unit 805, 15 Wertheim Crt.
Chinese with your family, English with the CRA
Personal tax return, per person (HST included)
A free 15-minute first consultation for new clients (conditions apply)
What we do
- 1
Take stock
List your income and assets on both sides
- 2
Tax return
Worldwide income + foreign tax credit
- 3
Foreign reporting
T1135, T1134, T1142
- 4
Planning
Run the numbers before selling property, transferring money or changing residency
- 5
Fixing the past
Assessing past unreported items, and voluntary disclosure
| Service | What's included | Fee |
|---|---|---|
| Personal income tax return (T1) | Reporting worldwide income, foreign tax credit, applying for benefits and credits, electronic filing; includes 5 tax slips, $5 for each additional slip | From $120 per person |
| Couple / family returns | Separate returns for spouses and dependants, arranged together | From $120 per person |
| Rental property (in Canada or abroad) | Rental income and expenses (T776), capital cost allowance | +$120 per property |
| Foreign property reporting (T1135) | Simplified method (total cost under C$250,000) | From +$100 per person |
| T1135 detailed reporting + consultation | For people with many assets who need detailed, item-by-item reporting and want to go through everything together | +$600 |
| Self-employment income | T2125; GST/HST returns, if you are registered, are charged separately | From +$100 per business |
| Year-round family tax advisor | Tax returns and add-ons for the whole family, 2–3 quick questions a month, a 1-hour year-end planning session, and a 1-hour planning session for the coming year after filing | From $1,500 a year (HST included) |
| Cross-border tax planning, residency determination | Residency under the treaty, calculations before selling property or transferring money, written analysis | Quoted case by case |
| Foreign affiliates (T1134), foreign trusts (T1141 / T1142) | Reporting shareholdings that meet the definition of a foreign affiliate, and reporting qualifying dealings with a foreign trust | Quoted case by case |
| Fixing past unreported items | Risk assessment, filing what was missed, voluntary disclosure (VDP), CRA reviews and objections | Quoted case by case |
About the fees: The amounts above are in CAD. The personal tax return prices include HST (as stated on our website). A "from" price is the starting point for common situations; more tax slips, more foreign-currency transactions, more foreign assets, or going back to earlier years all add to the work. The actual fee is as set out in the written quote before work begins; if the work goes beyond what was agreed, we explain first and continue only once you confirm.
Why have it all handled together
The numbers have to match. Your foreign income, the tax paid in China, and the assets and income on the T1135 are one set of numbers. When different people handle them separately, the most common result is that the income gets reported but not the assets, or the assets but not the income.
Run the numbers first, then act. Selling a home in China, moving money to Canada, going back to live in China for a while — these decisions all affect your Canadian tax. We help you work through the numbers before you decide, rather than fixing things afterwards.
A clear division of work between the two sides. We are responsible for Canadian filings and planning; filing and paying tax in China and Hong Kong is handled by qualified local advisers there, and we work with them by providing the information from the Canadian side.
Visit our office
Unit 805, 15 Wertheim Crt., Richmond Hill, ON L4B 3H7
- Beaver Creek business park, Richmond Hill · Near Highway 7 and Leslie Street
- A few minutes to Highways 404 and 407 · Viva rapid transit nearby · Underground and surface parking
How to get started
- 1
Book a consultation
Tell us about your income and assets on both sides
- 2
Document checklist
We list the documents you need to prepare
- 3
Written quote
We set the scope and the fee
- 4
Filing completed
Once filed, we walk you through the key points
Sources
- Sheng Qian CPA fees: sqcpa.ca/fees (October 31, 2026 version)
Disclaimer
This article describes the scope of Sheng Qian CPA's services. The specific services and fees are as set out in our written quote.
© 2026 Sheng Qian CPA. All rights reserved. Please contact info@sqcpa.ca for permission to republish.
More in this series
All 20 articles in this series →- T1135 Foreign Property Reporting: What to Report and How the $100,000 Test WorksWhat has to be reported, how the cost threshold is calculated, assets you don't report, penalties for not filing
Updated 2026-11-056 min read
- Foreign-Currency Income and Assets: How to Convert to Canadian DollarsThe annual average exchange rate and the exchange rate on the day of the transaction, sources the CRA accepts
Updated 2026-11-055 min read
- Tax Already Paid in China: Can You Claim It in Canada?How to use the foreign tax credit, which records to keep, what happens when the credit can't all be used
Updated 2026-11-054 min read
- Renting Out a Home in China: How to Report the Rent in CanadaReporting foreign rental income, deductible expenses, currency conversion, the foreign tax credit
Updated 2026-11-055 min read
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