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What is T5 Form?

The T5 form is a tax statement used in Canada to report investment income, such as dividends and interest earned during the fiscal year.

What is Form T5 used for?

It is used to report investment income to the Canada Revenue Agency (CRA), allowing for the accurate calculation of owed taxes or applicable tax credits.

Who should complete Form T5?

It must be completed by financial institutions, companies, and individuals who have paid or received more than $50 in investment income.

How to fill out T5 Form?

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1
Payer's Information
Provide the complete name and address of the investment income payer.
2
Recipient's Information
Enter the recipient's full name and Social Insurance Number or tax identification number.
3
Type of Income
Select the type of income, such as dividends, interest, or other investment income.
4
Total Amount Received
Enter the total amount received during the fiscal year for each type of income.
5
Account Number
Provide the account number related to the investment income if applicable.

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Some important tips

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Verify that all personal and financial information is correct before submitting the form.
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Keep a copy of the T5 form for personal records and as a backup for potential audits.
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If you do not receive the T5 form, immediately contact the institution to avoid delays in your tax return.
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Do not alter the original form; always request an official correction if needed.

FAQ about T5 Form

You should contact the issuing entity to correct the error and issue a new corrected form.