Plain meaning
An information slip reporting certain investment income, commonly including interest, dividends, and royalties.
Also called
Statement of Investment Income
T5 slips
T5
Key points
- Financial institutions, corporations, or other payers may issue a T5 when reportable investment income is paid or credited.
- The payer usually sends the slip to the recipient and reports the same information to CRA.
- Taxpayers use the slip to report investment income, but they remain responsible for reporting taxable income even if a slip is missing.
- T5 amounts can affect total income, net income, credits, benefits, and instalment requirements.
- If a slip arrives late or is corrected, the taxpayer may need to adjust a filed return.
Why it comes up
T5 slips help CRA and taxpayers match investment income to the correct tax return and can reduce filing errors when taxpayers wait for complete slips.