T5 Filing And Preparation
Paying yourself a dividend? We’ll make sure your T5s are filed right, on time, and totally CRA-compliant—so you can focus on what’s next.
T5s Don’t Need to Be Complicated
So—you paid yourself (or someone else) a dividend this year. That’s a solid move. But now it’s tax time, and the CRA wants to know about it. That’s where the T5 slip comes in.
At Swain CPA, we take the mystery out of T5 filing. We prep the slips, file with the CRA, and make sure you’re totally covered—no surprises, no late-night Googling, and definitely no “hope this is right” kind of energy.
Whether you’re paying out for the first time or doing this every year, we’ll walk you through it, explain what actually matters, and get it done properly. You’ll stay compliant, avoid penalties, and keep more headspace for what really matters—growing your business.
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Let’s Take T5 Filling And Preparation Off Your Plate
You’ve got bigger things to focus on. We’ll handle the slips, the filing, and all the CRA stuff—accurate, on time, and no stress.
Why choose us
Simply Good at What We Do.
T5s aren’t just forms—they’re part of a bigger financial picture. We’ve filed hundreds of them, and we know exactly what the CRA’s looking for. No guesswork. No missed details. Just clean, accurate filing that keeps you in the clear.
Beyond Just Numbers.
Dividends are more than a payout—they’re a strategic move. We help you understand the why behind the what, so you’re not just checking a box, but making informed decisions that support your long-term goals.
Long-Term Value Focus.
We’re not here to fire off a slip and disappear. T5s are just one step in building a smarter tax plan. We look at the big picture, so you’re not just compliant today—you’re set up to grow tomorrow.
Full-Service Support
From sorting out shareholder info to finalizing slips and submitting to the CRA, we handle the full process start to finish. And if questions pop up later? We’re still here. Real answers, real support—all year round.
How We Help
Meticulous Prep (So Nothing Gets Missed)
We double-check every detail—names, amounts, dividend types—so your T5 slips line up perfectly with what the CRA expects. We review your dividend declarations, corporate records, and payments to make sure everything’s clean and accurate before we file. No gaps, no surprises.
Filing It Right the First Time
Once everything’s ready, we take care of the filing—electronically or by mail, depending on what works best. Whether you’ve got one slip or several, we make sure it’s all sent in on time and exactly how the CRA wants it. You can stop stressing about the forms and get back to running your business.
Fixes? We’ve Got You.
If something changes after the fact (because hey, life happens), we’ll handle any corrections or updates quickly. We’ll keep your shareholders in the loop and make sure everything gets cleaned up without creating a bigger mess. You won’t have to lift a finger.
We Think Beyond the Slips
T5s are more than just a filing task—they’re part of a bigger picture. We’ll help you figure out things like when to pay dividends, what type makes the most sense, and how it all fits into your overall tax plan. It’s about more than getting it done—it’s about making it work for you.
FAQs
If your corporation paid out dividends or certain types of investment income—like interest—to shareholders or other individuals during the year, you need to file a T5.
This usually applies to business owners who’ve taken money out of their company in the form of dividends, instead of (or in addition to) a salary. Even if you only paid out dividends to yourself, the CRA still wants to see a T5 for it.
If no dividends or interest were paid, then no T5 is required. But if you did issue payments and don’t report them? That’s when you can run into trouble. We help make sure everything’s filed properly—so there are no surprises later.
A T5 slip tells the CRA (and the person receiving it) how much investment income was paid out during the year. For most small business owners, this means dividends from your corporation.
But it can also include things like:
- Interest paid on shareholder loans
- Certain royalties or trust income
- Other passive investment income
If your business paid this kind of income—especially dividends—to shareholders, a T5 slip reports the total amount, what type of dividend it was (eligible or non-eligible), and who received it.
It’s how the CRA keeps track of income that isn’t earned through salary or wages, and it helps make sure everything lines up come tax time.
The best way to avoid T5 penalties? File on time, file it right, and don’t forget anyone.The CRA wants T5 slips submitted by February 28 each year. Miss that deadline, or forget to file a slip for someone who received a dividend? That’s where the penalties can start stacking up—usually per slip, per day.
T5 preparation is the process of getting your dividend or investment income ready to report to the CRA. It means pulling together the right details—like who got paid and how much—so we can create the T5 slips and file them properly.
If your business paid out dividends, this step is what makes sure everything’s accurate, compliant, and ready to go before the deadline.
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