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.

For more information on important dates, please review the Tax slips checklist

Contact your ScotiaMcLeod Advisor, Scotiatrust Relationship Manager, Private Investment Counsel Relationship Manager, International Investment Advisory Investment Advisor or Scotia iTRADE Client Service.

This information has been prepared by Scotia Wealth Management and is intended as a general source of information only and should not be considered or relied upon as personal and/or specific financial, tax, pension, legal or investment advice. We are not tax or legal advisors and individuals should consult with their own tax and legal advisors before taking any action based upon the information. Opinions contained herein are our own as of the date hereof and are subject to change without notice. While care and attention has been taken to ensure the accuracy and reliability of the material in this website, neither Scotia Wealth Management nor any of its affiliates make any representations or warranties, express or implied, as to the accuracy or completeness of such material and disclaim any liability resulting from any direct or consequential loss arising from any use of the information contained herein. The information, opinions and conclusions contained herein are protected by copyright. This website may not be reproduced in whole or in part without the prior express consent of Scotia Wealth Management.