The main Canadian tax slips and forms commonly used for personal investment income.
How to report interest, dividends, capital gains, and carrying charges on a T1 return.
Practical filing rules that matter when slips arrive late or are incomplete.
Main Investment T Slips And Forms
T5
T5 Statement of Investment Income is the most common slip for non-registered investment income.
It usually reports:
interest from bank accounts, GICs, bonds, and similar products,
Canadian dividends,
some foreign income,
some capital gains dividends from mutual funds.
Common use on the return:
interest and other investment income: line 12100,
taxable Canadian dividends: line 12000 and sometimes line 12010,
dividend tax credit: line 40425,
some capital gains amounts: Schedule 3.
T3
T3 Statement of Trust Income Allocations and Designations is common for mutual funds, ETFs structured as trusts, REITs, and other trusts.
It can include:
interest income,
Canadian dividends,
capital gains,
return of capital information,
foreign income and foreign tax paid.
Important point:
T3 is often more complex than T5 because one slip can contain several income types.
A return of capital amount can affect your ACB and should be tracked for a later sale.
T5008
T5008 Statement of Securities Transactions reports securities you sold, redeemed, or otherwise disposed of during the year.
This is mainly for:
stocks,
ETFs,
mutual funds,
bonds,
other securities sold through a broker.
Important rule:
T5008 is not your final tax calculation.
The amount in box 20 may not be your correct ACB.
You must keep your own adjusted cost base records and calculate the real capital gain or loss yourself.
Common use on the return:
Schedule 3, then flow to taxable capital gains.
T5013
T5013 Statement of Partnership Income applies if you invested through a partnership or limited partnership.
It may report:
partnership income,
rental income,
investment income,
capital gains,
carrying charges,
foreign tax information.
This is less common for basic retail investing, but important for private placements and partnership structures.
T4PS
T4PS Statement of Employee Profit-Sharing Plan Allocations and Payments is not a standard retail investment slip, but it can still contain investment-related amounts.
It may include:
taxable Canadian dividends,
capital gains,
employee profit sharing allocations.
T1135
T1135 Foreign Income Verification Statement is not an income slip, but it is important for investing.
If you are a Canadian resident and the total cost amount of specified foreign property was more than CAD 100,000 at any time in the year, you may need to file T1135.
This is a reporting form, not a tax slip.
Which Forms Matter Most For Typical Personal Investing
Most common: T5, T3, T5008.
Sometimes relevant: T5013, T4PS.
Extra reporting form for larger foreign holdings: T1135.
Filing Rules For Investment Income
1. Report Income Even If You Did Not Receive A Slip
You still have to report taxable investment income even if:
the slip is missing,
the amount is under the issuer’s slip threshold,
the slip arrives late.
Example:
you may not receive a T5 for small amounts, but the income is still taxable.
2. T3 And T5013 Often Arrive Later
Most slips are usually issued by the end of February.
T3 and T5013 slips may not arrive until the end of March.
This is one reason many investors wait until they have all brokerage slips before filing.
3. Interest Income Is Taxed As Ordinary Income
Interest is generally fully taxable.
Common examples:
savings account interest,
GIC interest,
bond interest,
foreign interest,
some other fixed income amounts.
Usually reported on line 12100.
4. Interest Can Be Taxable Before Cash Is Paid Out
For items like GICs or compound investments, interest may need to be reported as it is earned, even if you do not receive cash that year.
This is important for multi-year GICs and similar products.
5. Canadian Dividends And Foreign Dividends Are Not Treated The Same
Canadian dividends from taxable Canadian corporations can qualify for the dividend gross-up and dividend tax credit.
They are commonly reported through T5, T3, T4PS, or T5013.
Foreign dividends do not qualify for the Canadian dividend tax credit.
Foreign investment income is generally reported on line 12100.
6. Capital Gains Are Not The Same As T5008 Proceeds
When you sell a security, tax is based on:
proceeds of disposition,
minus adjusted cost base,
minus selling costs.
T5008 often gives proceeds and sometimes a book value, but you still need to verify the ACB.
Do not rely blindly on broker book value if you had:
transfers between brokers,
DRIPs,
reinvested distributions,
return of capital,
partial sales,
foreign currency transactions.
7. Keep Your Own ACB Records
For non-registered investments, maintain your own ACB tracking.
This matters especially for:
repeated buys and sells,
ETF and mutual fund distributions,
trust return of capital amounts from T3,
account transfers between institutions.
8. Joint Accounts Usually Follow Contribution, Not Just Name On The Account
If an investment is jointly held, income is generally reported based on who contributed the money.
This matters for spouses, family accounts, and attribution issues.
9. Foreign Amounts Must Be Reported In Canadian Dollars
Foreign income, foreign tax paid, and foreign capital gains must be converted to CAD.
Use an acceptable exchange rate method and apply it consistently.
Carrying Charges And Interest Expense
What Usually Qualifies
Common deductible amounts on line 22100 include:
investment management or custody fees for taxable accounts,
certain investment advice fees,
interest paid on money borrowed to earn investment income,
certain accounting fees for preparing a return where business or property income is involved,
repayment of tax refund interest previously included in income.
What Usually Does Not Qualify
Common non-deductible items include:
commissions paid to buy or sell securities,
fees related to RRSP, RRIF, TFSA, FHSA, PRPP, or similar registered plans,
interest on money borrowed where the investment can only produce capital gains,
personal borrowing not linked to earning investment income.
Key Interest Deductibility Rule
Interest on borrowed money is usually deductible only if the borrowed money was used to earn income from business or property, such as interest or dividends.
If the only expected return is capital gains, the interest is generally not deductible.
Keep clear tracing records showing where the borrowed funds went.
Practical Filing Checklist
Wait for T5, T3, T5008, and any year-end brokerage tax package before filing.
Review T5008 against your own trade history and ACB records.
Review T3 carefully for:
capital gains,
foreign income,
foreign tax paid,
return of capital.
Report small amounts even if no slip was issued.
Separate registered and non-registered account activity.
Track deductible carrying charges only for taxable investment accounts.
Check whether foreign holdings trigger T1135.
Quick Summary
T5 reports common investment income.
T3 reports trust and many fund distributions.
T5008 reports securities sold, but does not replace your own capital gain calculation.
T5013 applies to partnership investments.
T4PS can contain certain investment-related amounts.
T1135 is a foreign asset reporting form, not an income slip.
Main filing rules:
report all taxable income even without a slip,
keep your own ACB,
treat interest, dividends, and capital gains differently,
claim carrying charges only when they meet CRA rules.