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mcode
New Member

I have a T5008 in my name with my SIN but as ITF for my son. Can this be claimed on his tax return?

 
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I have a T5008 in my name with my SIN but as ITF for my son. Can this be claimed on his tax return?

Generally under CRA Attribution rules for income if a parent makes investments in the name of the child the parent must report the income. However if the parent invests the Child Tax Benefit (now the Canada Child Benefit) then the child will claim the income.

Capital Gains can be treated as earned in the hands of the minor child if the original income producing asset has been given or loaned to the minor child.