What Do You Do When You Have A T5 Slip in the Joint Name?

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.