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      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 generate and release T5013 tax slips for all limited partners who have invested via the 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 and 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 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:

          • Notify the members associated with that entity.

          • Make the tax slips accessible via the members' addy profiles.

        • A list of all of the Boxes that will be handles, and their descriptions, can be found at the bottom of this article.

      2. Export Tax Details: To assist in the review process, two options are available for exporting tax-related information:

        Option 1: Non-PII CSV Export

        • Download a CSV file that includes the member ID and all relevant tax details.

        • This option excludes any personal identifiable information (PII) such as names or addresses, making it suitable for internal data review without confidentiality concerns.

        Option 2: PII CSV Export

        • Download a CSV file containing all tax details along with the investors' name, address, and partner identification number.

        • Since this file contains PII, it will be password-protected for added security.

      Important Notes:

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

      • Security: Handle the PII-inclusive 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:

      002 Partner code
      This will always be 0 which is for for a limited partner, at any time during the fiscal period
      003 Country code

      Will always be CAN
      004 Recipient type
      1 for an individual, other than a trust
      3 for a corporation
      005 Partner's share (%) of partnership

      The partner's percentage share of the partnership net income (loss) held by the partner at the partnership's fiscal period end. Uses up to six decimal places
      006 Partner's identification number

      Individual: Social insurance number (SIN)
      Corporation: the corporation's 15-character RC account number.
      010 Total limited partner's business income

      Total of business income received in the fiscal period.
      030  Total capital gains

      Total capital gains or losses.
      Box 104 Limited Partner’s Business Income (or Loss)

      Allocate the partner's share of the partnership's net total business income, other than farming income.

      Do not deduct carrying charges incurred for earning any investment income. These amounts are included in box 210.
      Box 105 Limited partner's at-risk amount
      Limited partner's at-risk amount (any capital that has not been returned) at the start of the financial year.
      Box 106 Limited partner's adjusted at-risk amount
      Limited partner's at-risk amount (any capital that has not been returned) at the end of the financial year.
      Box 107 Limited Partner’s Rental Income (Loss)
      Rental income (or loss) allocated to a limited partner.
      Box 113 Return of Capital
      Amounts that the limited partnership distributed to the partner. The partners need these amounts to reduce the adjusted cost base of the limited partnership interest.
      Box 114 Interest from Canadian Sources
      The partner’s share of interest income earned from Canadian investments.
      Box 116 Dividends (Eligible)
      Eligible Canadian dividends allocated to the partner.
      Box 118 Dividends (Other Than Eligible)
      Non-eligible Canadian dividends allocated to the partner.
      Box 122 Foreign Business Income
      The partner's share of foreign-sourced business income.
      Box 128 Other Income
      Income from other sources not specified in other boxes (e.g., royalties).
      Box 151 Resource Income (Loss)
      Income (or loss) from resource properties, such as mining or oil and gas.
      Box 205 Functional currency code
      USD if the functional currency is the US dollar if applicable.