Example – T5 slip for 2020 dividends

The T5 slip for the 2020 dividends is sent to the address of the recipient Albert Chang, from the address of the payer Agents Inc. The income tax deducted is $333.33. The Actual amount of eligible dividends (Box 24) is $1,000.00. The Taxable amount of eligible dividends (Box 25) is $1,380.00. The Dividend tax credit for eligible dividends (Box 26) is $207.27. The Report code (Box 21) is 0. The Recipient identification number (Box 22) is Albert Chang’s social insurance number. The Recipient type (Box 23) is 1.