Understanding your CU T5

Tax season in Canada can be a maze of forms, numbers, and deadlines, but understanding the basics can make the process smoother. One essential document to be aware of is the T5 statement.

What exactly is a T5? In simple terms, it’s a statement of investment income provided to Canadian taxpayers by financial institutions and other payers. This statement includes various types of income such as dividends, interest, and certain other earnings.

The Credit Union will issue T5 tax slips solely in the name of the Primary Account Holder. Joint account holders seeking a T5 tax slip in both names must submit a written request before the T5 production. The request should specify both account holders’ names and their desire for joint issuance. Failure to provide timely notification may result in issuance solely to the Primary Account Holder.

If you have any questions or need assistance regarding your T5 statements or any other tax-related documents we have issued, don’t hesitate to reach out. We are here for you!

Start typing and press Enter to search