How many decimal places are used for tax reporting?

When generating tax slips, addy's software truncates amounts to two (2) decimals places - except where the CRA has a specific convention

The CRA generally does not dictate how many decimal places must be used on tax slips and information returns. Some exceptions are:

1. Box 005 - Partner's share (%) of partnership - Six (6) decimal places are required
2. Exchange Rates - Four (4) decimal places are required: "Use the Bank of Canada daily exchange rate, to 4 decimal places"
3. Line 107 (not used by addy) - Percentage (%) of partnership interest - Four (4) decimal places are required

The T5013 Partnership Information Return does not specify how many decimal places must be used for most boxes. Accordingly, addy follows the industry standard practice of reporting amounts to two (2) decimal places. This is also CRA's standard for the international exchange of tax slips (see examples here and here)

Please be aware that when you enter a Custom Tax Box for T5013 tax slips, the sum total of all investor's amounts may diverge by a matter of cents because we are only reporting to two (2) decimal place. 

If you would like your tax information to vary from this convention, please contact us.