T5 Issued to Non Resident of Canada

Question

5654 viewsAugust 31, 2018Personal Tax

1

bally (anonymous) Posted August 30, 2018

I am a non resident of Canada since end of 2016.
I forgot to update the information on one of my accounts and was issued interest income on a T5.
How do i file this interest income form 2017, under (T5) or under (Non-resident Net interest and other investment income).

1 Answer

score 1 · Answer 1 · 2018-08-31T05:22:53+00:00

Hi,

Do not file a Canadian tax return. Non-residents of Canada are not supposed to file a Canadian return to report interest income. Even though the bank issued the wrong slip, withholding tax does not apply to interest payments made to non-residents of Canada.

Going forward, ask your bank to issue a NR4 Slip for future years for interest paid to you.

T5 Issued to Non Resident of Canada

1 Answer

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