Whose tax return is T5 trust account interest reported on - the child or parent?

ncrumpy — Fri, 25 Apr 2025 19:31:26 GMT

Re: Whose tax return is T5 trust account interest reported on - the child or parent?

LisaW4 — Wed, 30 Apr 2025 17:48:43 GMT

Hi! If the child is a minor, then the interest should be reported on the parent's tax return.

Otherwise, it depends on whether the child has control over the funds or if the parents have control and use the funds for the child. If the child has control, the interest would generally be reported on the child's tax return. If the parents have control, it might be reported on the parent's tax return. It is advisable to consult the CRA guidelines or a tax professional for specific circumstances.

topic Whose tax return is T5 trust account interest reported on - the child or parent? in Self-employed

Whose tax return is T5 trust account interest reported on - the child or parent?

Re: Whose tax return is T5 trust account interest reported on - the child or parent?