A T 5 form is used by the Canada Revenue Agency. This form is related to tax filing and reporting. It is known as a Statement of Investment Income slip. This form will serve as a record for any investment income payments made to a resident of Canada. This form is typically only used for amounts over $50, but they can be used for any amount.
On this form, financial information about any interest, dividends, or royalty payments will be listed. Two amounts should be included: the actual amount and the taxable amount. This information will be used to determine the amount of taxes either owed or due. The information for the payee and payer should also be listed on this form for identification purposes.
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