Tracking investment income across multiple accounts—RRSPs, TFSAs, non-registered accounts, and accounts held with different institutions—can feel overwhelming, but organizing this information before tax season is essential for accurate reporting. The Canada Revenue Agency (CRA) expects you to report all investment income you earned in the tax year, regardless of how many accounts you hold or which financial institutions manage them. Starting with a clear system now will save you time, reduce errors, and help you identify tax-saving opportunities. Many Canadian investors hold accounts across multiple financial institutions and account types. You might have an RRSP with one bank, a TFSA with a discount brokerage, a spousal RRSP elsewhere, and non-registered investments scattered across different platforms. Each account generates its own investment income statements, and the CRA wants you to report the total. Tracking across multiple accounts also helps you: - Identify which accounts have generated capital gains or losses (important for tax planning) - Understand your total investment income for income-tested benefit calculations - Spot duplicate reporting or missed slips - Plan ahead for next year's contribution room By the end of February 2026, your financial institutions must send you official tax slips showing investment income.
Yes, the CRA requires you to report all investment income from every account you hold, including RRSPs, TFSAs, non-registered accounts, and accounts with multiple institutions. However, income earned inside TFSAs and RRSPs is tax-sheltered and does not appear on your tax return unless you withdraw funds.
Contact your financial institution and request the slip. If the institution filed it with the CRA, it will be added to your CRA account. If you file without receiving it, include a note explaining the situation. The CRA cross-references slips filed by institutions, so missing slips will typically be caught during processing.
Most investment income is taxable, including interest, dividends, and capital gains. However, income earned inside TFSAs and RRSPs is tax-free. Foreign investment income is also taxable in Canada and must be converted to Canadian dollars. The [TFSA vs RRSP Comparison](/tools/tfsa-vs-rrsp) tool can help you understand how sheltering income in different accounts affects your taxes.
A T5008 slip reports the proceeds from selling securities (stocks, mutual funds, ETFs) and is used to calculate capital gains or losses. You'll receive one from each financial institution where you sold investments during the tax year. Keep these slips organized because they're essential for reporting capital gains accurately.
Tracking throughout the year makes tax season much easier and helps you spot errors early. Many investors use spreadsheets or portfolio tracking apps to record dividends, interest, and trades as they occur. This approach also helps you plan for tax-saving strategies and understand how your investment income affects your overall tax position.