CRA forms
The T5 Slip Explained: Dividends and Interest
March 1, 2027to file 2026 T5 slips and the T5 Summary, and to give each recipient their copy.
Sources checked October 20263 min read
Who issues a T5
The T5 slip, Statement of Investment Income, reports investment income paid to residents of Canada: dividends, most interest, royalties and a few rarer items. Banks and investment dealers issue most of them, but any corporation that pays a dividend issues one too, which makes the T5 a yearly task for owner managed companies whose owners take dividends.
No slip is needed where the total paid to a recipient in the year is under $50, for interest one individual pays another, such as on a private mortgage, or for capital dividends. Investment income paid to non residents goes on an NR4 slip instead.
Key points
- Reports dividends, interest and other investment income paid to Canadian residents
- Not needed when a recipient's total for the year is under $50
- Eligible dividends are grossed up by 38%, other dividends by 15%
- Due March 1, 2027 for the 2026 year
What the main boxes mean
Dividends appear twice on the slip: once as the amount actually paid, and again as the larger taxable amount after the gross up, with the federal credit beside it.
| Box | What it shows |
|---|---|
| 10 | Actual amount of dividends other than eligible dividends |
| 11 | Taxable amount of those dividends: box 10 grossed up by 15% |
| 12 | Federal dividend tax credit on the box 11 amount |
| 13 | Interest from Canadian sources |
| 14 | Other income from Canadian sources |
| 18 | Capital gains dividends |
| 23 | Recipient type, such as an individual, a joint account or a corporation |
| 24 | Actual amount of eligible dividends |
| 25 | Taxable amount of eligible dividends: box 24 grossed up by 38% |
| 26 | Federal dividend tax credit on the box 25 amount |
Eligible or not: what a small corporation's owner should know
Dividends paid from income taxed at the small business rate are usually dividends other than eligible dividends, reported in box 10 with a 15% gross up. Dividends the corporation designates as eligible, generally paid from income taxed at the general rate, go in box 24 with a 38% gross up and a larger credit. The corporation makes the designation when it pays and has to be able to support it.
Boxes 11, 12, 25 and 26 are completed only for individuals. When the shareholder is a holding company, only the actual amounts go on the slip, because a corporation does not gross up dividends or claim the credit.
Deadlines, filing and penalties
The slips and the T5 Summary are due on the last day of February after the year the income was paid, which for 2026 means March 1, 2027. A filer with more than five slips has to file over the internet, and late slips draw a penalty of at least $100, growing with the number of slips and the days late.
Quick answers
Does my corporation need a T5 for dividends paid to me?
Yes. A corporation that pays a shareholder resident in Canada dividends of $50 or more in the year issues a T5 slip and files it with a T5 Summary by the last day of February.
What is the difference between box 10 and box 24?
Box 10 holds dividends other than eligible dividends, usually paid from income taxed at the small business rate. Box 24 holds eligible dividends, which carry a larger gross up and credit.
Is interest on a private loan between two people reported on a T5?
No. Interest one individual pays to another is not reported on a T5, though the person who receives it still reports it as income.
Related pages
Official sources
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Important. This article provides general educational information, not legal or tax advice for a specific business. Rules, administrative policies, rates and deadlines can change. Confirm your facts and current obligations with the responsible government agency and a qualified adviser.