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When issuing T5 slip does box 11 and 12 need to be filling?

By Hank Bulmash |

Andrew asked:

When a corporation is issuing a T5 Slip to a Family Trust, do boxes 11 and 12 need to be filled, if so, are the calculations same as they would be for an individual?

Hank Bulmash answered:

When a corporation is issuing a T5 slip to a Family Trust, boxes 11 and 12 do need to be filled in. Box 11 states the taxable amount of the dividend and box 12 states the dividend tax credit.

The boxes are completed in the same way as they would be for an individual.

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