The following is general tax filing information that may or may not apply to you.
If you have a Non-Registered account and there was activity in your Non-Registered account(s) in 2021 you can expect to receive a tax package from your Portfolio Management team. If you do not have a Non-Registered account you will not receive this.
This tax package usually includes a Statement of Annual Management Fees, Position Report, Foreign Asset Report, and a Realized Gain & Loss Report for Non-Registered accounts.
You will need to pair the Gain & Loss Report with the T5008 tax slip that you will receive from your Custodian. The Gain & Loss Report provides the book value of activity in the account, while the T5008 provides the proceeds of disposition. Please provide both documents to your tax preparer. If there was no activity in your Non-Registered account or you do not have a Non-Registered account, you will not receive these forms.
Some of the Portfolio Managers invest in certain holdings which have a different type of reporting. The distributions for these in Non-Registered accounts are reported on CRA Form T3 and/or T5013. These forms are expected to be sent out near the end of March.
If you made an RRSP or Spousal RRSP contribution in the first 60 days of 2022, the deadline for mailing these slips is the end of March.
We advise you to wait until after March to file your return to ensure you receive all necessary slips.
If you are signed up for online access with your Custodian and have your preferences set to electronic delivery, your tax slips may be available online only. Therefore, you will need to login to your account to check for tax slips as there will not be a hard copy mailed.
Please refer to the target tax slip mailing schedule below from National Bank Independent Network (NBIN) and Credential Securities.
National Bank Independent Network (NBIN):
If you have any questions, please contact our office. Find more information about the tax planning services we offer here.