# T5 slips



## reccoso (Dec 16, 2010)

Anyone know the difference between boxes 10 and 11 on the T5? Why is the actual dividend amount different than the taxable amount different. More specifically, why is the taxable amount higher than than actual amount.

Lastly, what exactly does line 12 mean?


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## GrossmanCGA (Feb 10, 2011)

The actual dividend you received [Box 10] are "grossed-up" by 25% to calculate the "taxable dividends" [Box 11] on which you are taxed and also enjoy the dividend tax credit [Box 12], which is calculated as 13 1/3% of the taxable dividends. The percentages are different for "eligible dividends"....
The details are found in this CRA publication: http://www.cra-arc.gc.ca/E/pub/tg/t4015/t4015-09e.pdf

A good description of dividend treatment is provided by our forum's admin here: http://www.milliondollarjourney.com/how-investing-taxes-work-part-2-dividends-and-interest.htm

Best regards,

Eric


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## OhGreatGuru (May 24, 2009)

And don't ask us to explain the logic behind it.


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## Toronto.gal (Jan 8, 2010)

Thanks for posting Grossman, those links will help me too, though I know the logic of the 25% & 45% gross-up.


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## reccoso (Dec 16, 2010)

Thanks. My acct did a shitty job of explaining this.


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## iherald (Apr 18, 2009)

On a slightly unrelated but still related matter, has anyone gotten T5's from TD Waterhouse yet?


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## FrugalTrader (Oct 13, 2008)

T5 submission deadline for companies is the end of February. So you'll likely receive them sometime in March.


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## sprocket1200 (Aug 21, 2009)

the theory on it is easy. it helps CRA clawback oas and other gov't programs. when you retire this will be a huge issue. fire up those TFSA's boys!!


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## Eclectic12 (Oct 20, 2010)

FrugalTrader said:


> T5 submission deadline for companies is the end of February. So you'll likely receive them sometime in March.


I'm hoping that with most of my trusts converting to dividend stock companies, there will be far fewer tax forms arriving in mid-April.

Time will tell ...


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## Square Root (Jan 30, 2010)

iherald said:


> On a slightly unrelated but still related matter, has anyone gotten T5's from TD Waterhouse yet?


Printed mine off today. Sign up for paperless. Works great.


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## kcowan (Jul 1, 2010)

Square Root said:


> Printed mine off today. Sign up for paperless. Works great.


Except they reserve the right to reissue them to correct errors so calculate but not file.


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## Square Root (Jan 30, 2010)

kcowan said:


> Except they reserve the right to reissue them to correct errors so calculate but not file.


I guess that would be the same with those mailed out? Not too hard to refile if you E file. Which isn't available for 2010 yet anyway.


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