Frequently asked questions
The following frequently asked questions are provided to cover some of the most common queries received regarding tax documents.
Income from different investment types is reported on different tax slips. Dividends and interest income is reported on a T5/Releve 3, income from income trusts is reported on a T3/Releve 16 and income from a Limited Partnerships is reported on a T5013/Releve 15. Depending on the holdings in your account and the time we receive required information from the issuers, you may receive multiple tax slips.
To find out if you have all tax slips for your investments, review your investment statements for all non-registered accounts and review how much you’ve earned on your non-registered accounts during the year. You should receive a tax slip for each investment that you have earned income on.
You should get a tax slip for all investments that have generated taxable income in a non-registered account. You may not have received a slip that you received last year because the investment didn’t generate any investment income or the investment income did not meet certain criteria (e.g. total investment income is less than $50, T5 or RL-3 will not be issued) in the current year. You will only receive a T5008 for proceeds of disposition if you sold any investments in the current tax year.
You should receive a T3 slip for all mutual fund trusts that paid distributions and a T5 slip for corporate class mutual funds that paid dividends.
Speak to your tax advisor to see if you need to refile the tax return.
Contact your ScotiaMcLeod Advisor, Scotiatrust Relationship Manager, Private Investment Counsel Relationship Manager, International Investment Advisory Investment Advisor or Scotia iTRADE Client Service.
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