My mutual fund submitted a T3 + a T5 with the CRA. Was this a mistake? Will I be double taxed for this if I submit a T3 + a T5 for the same income?
I have mutual funds with Tangerine bank. They sent me a T3 slip and no T5 slip. But it looks like they filed both a T3 and a T5 with the CRA. What should I do so that I do not get double taxed for this?
How did you know they filed a T5? did you download from CRA web site? If that is the case use what's on the CRA web site. Also know that issuers are not suppose to prepare T5 when the income/interest/dividend is less than $50.
The income is over $50. But I don't understand why it has been filed on both a T3 and T5. Does this seem like a mistake? Am I going to be paying income tax twice on this?
CRA will make sure all tax slips submitted are included on your tax return. If you feel there is a discrepancy with the income reported on the slips, you need to take that up with the issuer.
