T5 Statement of Investment Income: Every Important Box Explained

Interest, eligible and non-eligible dividends, foreign income and foreign tax paid from non-registered accounts.

Expected timing

Usually issued by the end of February.

Where it goes

Interest generally flows to line 12100; taxable Canadian dividends flow through lines 12000/12010.

BoxWhat it meansWhat to do

13Interest from Canadian sourcesInclude with other interest income on line 12100.

14 / 15Other or foreign incomeConvert foreign amounts to CAD and report the appropriate investment-income line.

16Foreign tax paidUse when calculating the foreign tax credit.

24 / 25 / 26Actual eligible dividends, taxable amount and federal creditEnter all three figures in tax software; do not gross up Box 24 yourself twice.

Calculate adjusted cost base Reconcile a T5008

Frequently asked questions

Do I need to report a T5 if I never received one for a small amount?

Yes. Investment income under $50 may not trigger a T5 slip, but the income is still taxable and must be reported using your own account records, typically on line 12100.

What is the difference between Box 24 and Box 25 on a T5?

Box 24 is the actual eligible dividend amount you were paid. Box 25 is the taxable amount after the dividend gross-up is applied. You report the Box 25 taxable amount as income, then claim the Box 26 federal dividend tax credit against it.

How do I handle foreign income and foreign tax paid shown on a T5?

Convert the foreign-currency amounts in Boxes 15 and 16 to Canadian dollars using the Bank of Canada exchange rate for the relevant date, report the income on the appropriate investment-income line, and use Box 16 (foreign tax paid) when calculating your foreign tax credit.