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Canada Revenue Agency Agence du revenu du Canada Protected B when completed T5007 (12) T5007 STATEMENT OF BENEFITS NOTE: In this form, the text inserted between square brackets represents the regular.

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How to fill out the T5007 online

The T5007 form, or Statement of Benefits, is an essential document used for reporting benefits received from workers' compensation and social assistance. This guide provides clear, step-by-step instructions to assist users in successfully completing the T5007 online.

Follow the steps to accurately complete the T5007 online.

  1. Press the ‘Get Form’ button to obtain the form and open it in your chosen digital format.
  2. Begin by filling out the recipient's information, including the last name, first name, initials, address, city, province or territory, and postal code.
  3. Next, enter the payer's information by providing their name, address, city, province or territory, and postal code.
  4. In Box 10, indicate the total workers' compensation benefits received, as this amount will need to be reported on your income tax and benefit return.
  5. In Box 11, input the total social assistance payments or provincial supplements received, ensuring to follow any instructions regarding reporting based on household income.
  6. Review the form for accuracy and completeness, ensuring all necessary fields are filled out.
  7. Once all information is verified, you can save your changes, download the document, or print it as needed for your records.

Complete your T5007 online today for a seamless filing experience.

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Use T5007 slips to identify recipients of workers' compensation benefits and social assistance payments, and to report the amount of benefits and assistance paid to them. There are three individual T5007 slips on each page. These can be downloaded and printed and the information can be typed or filled out by hand.

Canada Workers Benefit (formerly the Federal Working Income Tax Benefit) The Canada Workers Benefit (CWB) encourages low-income workers to keep earning. If you make $3,000 or more, you claim this refundable credit even if you received some welfare payments during the year.

If you're a worker, any WorkSafeBC income benefits you receive are non taxable. But they might affect your tax credits and payments. So we provide a T5007 Statement of Benefits to help you file your annual tax return. If you're an employer, you will need to adjust T4s covering any wages that you paid and we reimbursed.

If your DI benefits are taxable, you will receive a notice with your first benefit payment. You will receive a Form 1099G for your federal return only.

The amount in box 10 on your T5007 statement is the total amount of all WSIB benefits paid in all claims in a tax year. Your T5007 statement includes benefits paid in all your claims, even though the statement only shows one claim number. The amount in box 77 on your T4 slip is the amount we've repaid your employer.

The social assistance payments amounts are not taxable, but you must include them in your net income. Including the social assistance payments ensures that any benefits that you may be entitled to are calculated properly.

• The T5007 is a tax slip that will help you prepare your income tax return as it includes. the amount of provincial assistance issued to you in a tax year.

Canada Revenue Agency requires that the Province of British Columbia provide a T5007 tax slip to all persons who received more than $500 from BC Employment and Assistance during the tax year. Childcare providers do not receive a T5007. The amount on the T5007 should be included on your income tax return.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232