T5003: Statement of Tax Shelter Information
If you invested in a tax shelter in 2024, you’ll receive either a:
- T5003: Statement of Tax Shelter Information slip or
- RL-14: Information about a tax shelter slip (resident of Québec)
According to the Canada Revenue Agency (CRA), a tax shelter is loosely defined as a gifting arrangement or the acquisition of property to obtain favourable tax benefits. This means, you're able to minimize your taxes under a tax shelter. Gifting arrangements where the donor has a limited recourse debt is also considered to be a tax shelter. The tax benefits and deductions resulting from a tax shelter arrangement should equal or exceed the cost of the gift or the property. For more information on reporting tax shelter information, see the CRA website.
Note: If you want to claim a tax shelter loss or deduction, you’ll need to complete the T5004 page in H&R Block’s tax software.
Where do I claim this?
Follow these steps in H&R Block’s 2024 tax software:
-
On the left navigation menu, click the Government slips tab, then Smart Search.
- Type T5003 in the search field and either click the highlighted selection or press Enter to continue.
- When you arrive at the T5003 page, enter your information into the tax software.
