Many a
times we have the T5 Slip (Statement of Investment Income) in joint or more
than one name and the question arises as to how do we divide the income
mentioned on the T5.
The answer
is to divide the income on the slip in the ratio of original contribution of
deposit by each joint holder.
Also,
please be careful if the income is mentioned in foreign currency since such
income needs to be converted in to Canadian Dollars before the split is affected.
No comments:
Post a Comment