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Information returns

What are information returns?

Information returns are supplementary returns that are compiled and entered into a particular tax return( T1 for personal and T2 for federal corporate ). These returns typically do not have a tax component until entered into the correct return depending on the type of entity.

These returns are often referred to as Slips.

What are examples of information returns?

  • T3 – Statement of Trust Income Allocations and Designations
    • Trusts use this return to identify beneficiaries and to report income, expenses and credit to the trust designates to the beneficiaries .
    • This return is prepared by the Trust and then submitted to CRA.
    • The filing deadline for this return is 90 days after the trust’s year end.
  • T4 – Statement of Remuneration Paid
    • Most common form
    • This document is prepared by your employer and then submitted to CRA.
    • This documents outlines the amounts you were paid by your employer, any taxable benefits you received, and the amounts deducted from your pay to be remitted on your behalf to CRA.
    • The filing deadline for this return is the last day of February following the calendar year to which the return applies.
  • T5 – Statement of Investment Income
    • This document is prepared from the source where you received investment income and then submitted to CRA.
    • This document will outline the amount of investment income received as well if there was any taxes withheld on the investment income.
    • The filing deadline for this return is the last day of February following the calendar year to which the return applies.
  • T5008 – Statement of Securities Transactions
    • This information slip reports the amount paid or credited to you for securities you disposed of or redeemed during the year.
    • The filing deadline for this return is the last day of February following the calendar year to which the return applies.
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