2022 T5 | Page 6 | Income tax filing | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Feed Topic RSS sp_TopicIcon
March 1, 2023
6:55 am
skibum
Member
Members
Forum Posts: 28
Member Since:
September 20, 2016
sp_UserOfflineSmall Offline

krwilson said
Simplii (CIBC) T5 available through CRA My Account.  

As of Feb 28 only my TFSA doc. from Simplii Financial was available on CRA. Simplii must have gotten tired of T5 requests because they have added the following message to their help link
SF-T5.jpg

March 1, 2023
11:36 am
RAV4guy
Member
Members
Forum Posts: 43
Member Since:
December 26, 2020
sp_UserOfflineSmall Offline
102sp_Permalink sp_Print

Today my Canadian Western Bank T5 arrived in the mail for my Motive Bank 2022 Interest.

March 2, 2023
9:51 am
RAV4guy
Member
Members
Forum Posts: 43
Member Since:
December 26, 2020
sp_UserOfflineSmall Offline
103sp_Permalink sp_Print

Today my Peoples Trust T5 arrived in the mail.

March 5, 2023
6:22 pm
Norman1
Member
Members
Forum Posts: 6780
Member Since:
April 6, 2013
sp_UserOfflineSmall Offline

Late last week, separate T5 slip for brokerage ISA BMT104 in BMO InvestorLine account arrived.

March 12, 2023
5:31 am
RetirEd
Member
Members
Forum Posts: 1019
Member Since:
November 18, 2017
sp_UserOfflineSmall Offline
105sp_Permalink sp_Print

I finally found out why Coast Capital didn't send me a T-slip. Enough of my money was in a TFSA to reduce my interest below $50!

Duh.
RedirEd

RetirEd

March 12, 2023
7:12 am
Alexandre
Member
Members
Forum Posts: 1116
Member Since:
November 8, 2018
sp_UserOfflineSmall Offline
106sp_Permalink sp_Print

Hi,

Has anyone received motusbank T5 either in mail or in CRA My Account? This is the only one outstanding for me.

March 12, 2023
8:11 am
FastJonny
Ontario
Member
Members
Forum Posts: 49
Member Since:
February 20, 2022
sp_UserOfflineSmall Offline
107sp_Permalink sp_Print

Alexandre said
Hi,

Has anyone received motusbank T5 either in mail or in CRA My Account? This is the only one outstanding for me.  

Yes, motusbank was one of the first slips I got in the mail. It is also in my CRA account.

March 12, 2023
9:43 am
AltaRed
BC Interior
Member
Members
Forum Posts: 2899
Member Since:
October 27, 2013
sp_UserOfflineSmall Offline
108sp_Permalink sp_Print

RetirEd said
I finally found out why Coast Capital didn't send me a T-slip. Enough of my money was in a TFSA to reduce my interest below $50!

Duh.
RedirEd  

There probably still is a T5 of your interest though on CRA MyAccount. Just because a tax slip was not mailed to you does not mean it is not on CRA MyAccount for you to report on your tax return.

March 12, 2023
5:14 pm
Alexandre
Member
Members
Forum Posts: 1116
Member Since:
November 8, 2018
sp_UserOfflineSmall Offline
109sp_Permalink sp_Print

FastJonny said

Yes, motusbank was one of the first slips I got in the mail. It is also in my CRA account.  

Thanks. On January 1st 2022 approximately $60 was deposited to my motusbank Savings account as an interest income from December 2021. That was the only deposit for the rest of the year.
I wonder now if that interest was reported on T5 for 2021. I thought because interest income deposit is dated January 1st 2022 it should be in 2022 income.

March 12, 2023
8:58 pm
BK
Member
Members
Forum Posts: 18
Member Since:
March 30, 2022
sp_UserOfflineSmall Offline

I received my Hubert T5 the other day by mail, but it is not in CRA My Account yet.

The letter says Hubert on it, but the T5 shows as Access Credit Union.

Prepared my return for free using GenuTax.

March 14, 2023
8:24 am
RetirEd
Member
Members
Forum Posts: 1019
Member Since:
November 18, 2017
sp_UserOfflineSmall Offline

AltaRed: Don't worry, I got the total from Coast Capital. It agreed with the amounts on my printed statements.

BTW, I have no online account with CRA, or any online presence linked to my actual identity. I have no doubt that any nasty person who cared could finger me, though.
RetiEd

RetirEd

March 15, 2023
12:21 pm
savemoresaveoften
Member
Members
Forum Posts: 2885
Member Since:
March 30, 2017
sp_UserOfflineSmall Offline
112sp_Permalink sp_Print

RetirEd said
AltaRed: Don't worry, I got the total from Coast Capital. It agreed with the amounts on my printed statements.

BTW, I have no online account with CRA, or any online presence linked to my actual identity. I have no doubt that any nasty person who cared could finger me, though.
RetiEd  

Looks like more T3s are posted to the CRA. Got a new one today.

March 15, 2023
6:04 pm
COIN
Member
Members
Forum Posts: 1109
Member Since:
March 15, 2019
sp_UserOfflineSmall Offline
113sp_Permalink sp_Print

savemoresaveoften said

Looks like more T3s are posted to the CRA. Got a new one today.  

It's too bad the T3 deadline is March 31st.

March 20, 2023
3:04 pm
hwyc
GTA
Member
Members
Forum Posts: 1171
Member Since:
September 30, 2017
sp_UserOfflineSmall Offline

Norman1 said
T5 slip from Wyth arrived this past week. The payer is "Concentra Financial Services Association".  

Is it also uploaded to CRA? I didn't get one in the mail & cannot see their T5 on My account as yet.

March 20, 2023
5:28 pm
hwyc
GTA
Member
Members
Forum Posts: 1171
Member Since:
September 30, 2017
sp_UserOfflineSmall Offline
115sp_Permalink sp_Print

… Nevermind. It's under $50

March 20, 2023
5:43 pm
Alexandre
Member
Members
Forum Posts: 1116
Member Since:
November 8, 2018
sp_UserOfflineSmall Offline
116sp_Permalink sp_Print

RetirEd said
I have no online account with CRA, or any online presence linked to my actual identity.

You do have online account with CRA. You haven't setup access to it. Someone might do it on your behalf, they only need few pieces of information to impersonate you.

March 20, 2023
11:01 pm
AltaRed
BC Interior
Member
Members
Forum Posts: 2899
Member Since:
October 27, 2013
sp_UserOfflineSmall Offline
117sp_Permalink sp_Print

I agree. Every taxpayer has an online CRA MyAccount.

March 21, 2023
5:04 am
Bill
Member
Members
Forum Posts: 3930
Member Since:
September 11, 2013
sp_UserOfflineSmall Offline
118sp_Permalink sp_Print

Anybody know why is the T3 deadline Mar 31 instead of Feb 28? I'm guessing there's a reason.

I file some T3 trust returns, due by Mar 31, and every year I'm waiting for T3s for them. I used to just file the trust returns slightly late with no problem but Justin brought in an automatic late filing penalty if they're filed a minute late so I get dinged for that. (I know I could file on time anyway, with missing info, but there are other reasons I don't want to do that.)

March 21, 2023
5:31 am
savemoresaveoften
Member
Members
Forum Posts: 2885
Member Since:
March 30, 2017
sp_UserOfflineSmall Offline
119sp_Permalink sp_Print

Bill said
Anybody know why is the T3 deadline Mar 31 instead of Feb 28? I'm guessing there's a reason.

I file some T3 trust returns, due by Mar 31, and every year I'm waiting for T3s for them. I used to just file the trust returns slightly late with no problem but Justin brought in an automatic late filing penalty if they're filed a minute late so I get dinged for that. (I know I could file on time anyway, with missing info, but there are other reasons I don't want to do that.)  

I think part of the reason is some ETFs dividends are not finalized and pay till Jan, but count as distribution for the same tax year.

When I am in doubt the final number, I just remit a bit more that I think I would need to pay, and as long as that is done before Apr30, they wont charge any interest. My understanding is you can file ur tax late, as long as you dont owe them any tax. Any extras they just give it back to me as a direct deposit refund.
With rates much higher this year, the penalty interest rate is very steep and not worth the risk.

March 21, 2023
6:22 am
Bill
Member
Members
Forum Posts: 3930
Member Since:
September 11, 2013
sp_UserOfflineSmall Offline
120sp_Permalink sp_Print

T3 trust returns are due Mar 31 (assuming Dec 31 year-end), not Apr 30. And the interest charged on late filings is not an issue, it's the automatic penalty for late filing that is triggered if filed after Mar 31.

It's not a big deal, I was just wondering why T3s are later but what you say makes sense, takes longer for mutual funds, etfs, etc. to figure their stuff out.

Please write your comments in the forum.