How to Review and Generate T5013 Tax Slips

How to Generate and Release T5013 Tax Slips on the addy Platform

Overview: addy provides the functionality to review, generate and release T5013 tax slips for all limited partners who have invested via the addy platform. Before investors can access their tax slips, the issuer must review the details to ensure accuracy and approve the release. This article explains the review process and the available options for exporting tax-related details.

Steps to Generate and Release T5013 Tax Slips:

1. Review Tax Details:

   • Issuers must first verify the accuracy of the tax slip data for each entity, you can do this by navigating to the entity and selecting the "Taxes" tab.

   • Next select the year you wish to review, the addy system will add in required data from your business account known. Fill out any other required data forms that are incomplete.
     
   • Then you will need to add any custom tax slips boxes that you require. Automatically generated boxes are outlined below and should also be reviewed once you're ready to download a T5103 to review. 
     

   • Once you have confirmed the Tax Details, click "Download to Review" and a CSV export of all of the investors tax details will be provided. 

     
   • If you would like to spot-check random T5013 slips you can use the Generate T5013 slip button at the bottom and a sample will be generated using live user data - note Box 006 will use 000000000 instead of live SIN/BN numbers for samples.

   • Once the details have been reviewed and confirmed you will be able to toggle the release switch for the specific entity. This action will make the tax slips accessible via the members' addy profiles.

   • A list of all the Boxes automatically handled and their descriptions can be found at the bottom of this article.

2. Export Tax Details: To assist in the review process you will be able to download a password protected ZIP file that contains the details for review. 

Important Notes:

• Percentage of Entity Owned by addy Investors: This is a critical function to ensure that the pro-rata calculations the addy system generates is correct for your investors. 

• Accuracy Check: Ensure all tax slip details are accurate before toggling the release switch.

• Security: Handle the PII (Personal Identifiable Information) CSV with care and share the password securely if the file needs to be shared internally.

• Notifications: Once the release switch is toggled, members will receive a notification that their tax slips are available for download.

For any issues or further assistance, please contact addy’s support team.

Tax fields that are handled by the addy software: