T5 Statement of Investment Income


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What Is T5 Statement of Investment Income?

T5 Statement of Investment Income helps you report certain types of investment income received by a Canadian resident. You could use this form to report income from dividends, interest, capital gains, and foreign investments. T5 is also used to report income from certain kinds of annuities and royalties.

What Is T5 Tax Form Used For?

The T5 tax form is used to report certain types of investment income, including interest, dividends, and capital gains. This information serves to calculate your tax liability.

How to Fill Out the T5 Form?

Please follow this step-by-step guide to complete T5 form:

  • First, include in columns 10, 11, and 12 the total of all dividends from Canadian corporations that are not qualified dividends. Don't include these dividends in any other columns. Eligible dividends are dividends paid by a Canadian corporation out of profits on which it has already paid tax. The tax rate on eligible dividends is lower than the rate on other dividends.
  • Columns 13, 14, 15, 16 - Interest from Canadian sources. This shows the interest you earned during the year from Canadian sources. If you earned interest from both Canadian and foreign sources, you must complete a separate T5 for foreign interest.
  • Column 18 - Capital Gains Dividends. This is the total of all capital gains dividends you received during the year. Include any capital gains dividends that were reinvested in other investments.
  • Columns 24, 25, and 26 - Dividends from Canadian corporations. You must enter the total amount of eligible dividends shown.

Where Can I Get a T5 Form?

If you are a Canadian resident, you can download a T5 form from the Canada Revenue Agency (CRA) website. If you are a non-resident of Canada, you can get a T5 Statement of Investment Income from a Canadian embassy, consulate or high commission in your country.

What Are the Government Organizations That Work With the T5 Tax Form?

Form T5 statement of investment income in Canada is usually filed by investment companies and banks. However, some government organizations also work with Form T5s. For example, the Canada Revenue Agency (CRA) uses the T5 to track investment income for tax purposes.

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