Self-employed

www.cra-arc.gc.ca/E/pbg/tf/t5/t5-fill-14e.pdf

http://www.cra-arc.gc.ca/E/pbg/tf/t5/t5-fill-14e.pdf

The software does not produce T5's.  They can be had above.

There are things you need to know:

What is the reason for issuing dividends?  Have you considered the effect on your personal tax? 

Are you familiar with the new calculation of the taxable amount and the credit amount?

Do you have the correct address to send the T5's and Summary?

Are you aware that you are filing late?  T5's are required to be filed by February 28? There are likely to be penalties.

Are you paying dividends only to shareholders?

Does your share structure support paying dividends?  You need at least 2 different classes of shares.



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