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Helpsheet for Form R85 Tesco Bank

Helpsheet for Form R85 Tesco Bank

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Video instructions and help with filling out and completing Helpsheet For Form R85 Tesco Bank

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Instructions and help about Helpsheet For Form R85 Tesco Bank

Ok, in this video we're going to talk about  preparing your own T5. So if you want to   prepare a T5, this is what the T5 form looks like.  This is a fillable form you can get from CRA. And   you've got your year, we're going to put 2021  in here. And then you've got your Eligible  (box 24) or Other than Eligible(box 10) Dividends. So I'm going  to put my name in there as the recipient.   The T5 is used for paying interest, dividends,   royalties, capital gains. Anything basically,  that you can get paid from a corporation. But   in the case, we're going to look at eligible  dividends and other than eligible dividends.   So we'll start with other than eligible dividends (box 10).  Other than eligible dividends get grossed up   to take account for the fact that you're getting  after tax proceeds. Because the corporate tax has   already been paid. So the dividend gets grossed  up by 15% in 2021, and then a dividend tax credit   gets applied. And so you're go

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