When entering information from your T5 slip in Wealthsimple Tax, follow these steps for box 13 (Interest from Canadian sources):
- Locate box 13 on your T5 slip
- In Wealthsimple Tax, select the type of interest:
- Options available: Bank, Bond, Mortgage
- If unsure of the interest type:
- Choose "Bank" as the default option
Important notes:
- The interest type selection is for statistical purposes only
- Your choice doesn't affect tax calculations
- Common sources of interest include:
- Savings accounts
- Term deposits
- Guaranteed investment certificates (GICs)
- Loans made to others
Remember:
- Report all interest income, even if you didn't receive a T5 slip
- Keep your T5 slips and other investment records
If you need assistance entering T5 information in Wealthsimple Tax, please contact Wealthsimple support.
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