The 2020 checklist will help you organize the tax slips you may be receiving, depending on the type of accounts and investments you hold. Few things about tax time get us excited, but here's what's new this year.
T3 Pending Lists in T5 Packages - Third-Party Mutual Funds
The T3/R16 pending list that is included in T5/R3 tax packages will now include any slips issued by third-party mutual fund companies. This gives clients a complete list of T3 slips they can expect to receive related to their CIBC Wood Gundy account(s) before they file their 2020 tax return.
Put another way, your CIBC Wood Gundy Tax Package previously listed the Trust units, which have pending slips, but now will also include mutual funds.
This should help to mitigate incomplete tax return filings!
For example, if you had any disposition transactions during the year, your tax package includes a T5008/RL18 Statement of Securities Transactions, which reports details of security positions that were sold, redeemed or matured during the 2020 tax year. The T5008/RL18 may be of assistance when calculating Capital Gains/Losses for tax purposes. For your convenience, the T5008/RL18 includes the cost or book value for the security in Box 20. Click here for more details about this enhanced reporting.
We know that keeping track of all your tax slips can be challenging, so click here to access our Tax Slips Checklist which is also available on our website.
Did you know that tax slips are available through CIBC Wood Gundy Online? Click here to sign in and access your tax slips at any time, from anywhere!
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