Mail from RBC T5 statement meaning please

[Clorets90]

Hello
Today I got mail envelope from RBC bank shows T5 and " Your income tax information slips reporting deposit intrest" also there is a line says Canada Revenue Agency

I have ZERO knowledge about this mail.

What is is this and what I must do ?

Thank you very much.

 

[PMM]

Hi

Hello
Today I got mail envelope from RBC bank shows T5 and " Your income tax information slips reporting deposit intrest" also there is a line says Canada Revenue Agency

I have ZERO knowledge about this mail.

What is is this and what I must do ?

Thank you very much.

1. It is a record of what interest you earned on investments at RBC. You will be getting T4s from your employer, as well as other T slips. You need them when you complete your Income tax for 2017.

 

[Clorets90]

Hi



1. It is a record of what interest you earned on investments at RBC. You will be getting T4s from your employer, as well as other T slips. You need them when you complete your Income tax for 2017.

Thank you very much so the amount earned must show on my RBC account ? Where I can see it?
Thanks

 

[Clorets90]

Also please what i must do with T5 statement? I'm new to Canada
Thank you.

 

[mad_hatter]

The interest you earned should be in Box 13 of the T5 slip. You first tax return can be complicated, I would suggest that you hire an accountant to do it for you.