"Enter percentage of slip to claim on your spouse's tax return". My wife didnt work this year and the applicible T5 is for an investment in my name. May i still split it?
"Enter percentage of slip to claim on your spouse's tax return". My wife didnt work this year and the applicible T5 is for an investment in my name. May i still split it?
"Enter percentage of slip to claim on your spouse's tax return". My wife didnt work this year and the applicible T5 is for an investment in my name. May i still split it?
According to CRA Attribution rules, what you need to do is determine who contributed to the investment and what percentage. You report the interest earned in the same proportion as the funds that were contributed into the account that earned the income.
You cannot change the amounts strictly for tax advantages, and you should continue to report it with the same percentages each year, as changing this each year can trigger a review and possible reassessment from CRA. Generally spouse's claim 50/50.
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