Issue a Dividend

GT43353 · ‎January 24, 2023

Hi

I took money out of my company so I will have to pay taxes on it on a personal level. I would like to have the company issue a dividend. Once that is done then I can claim it on my personal taxes. How can I get the company to issue a dividend?

Thank you

GT43353 · ‎January 29, 2023

Anyone able to help me with this?

ProFile Duncan · ‎January 31, 2023

Hi,

Unfortunately the ProFile team cannot help with tax issues. Hopefully someone with experience will see this and respond.

GT43353 · ‎February 08, 2023

Hi

I am asking how to do it in prophile so it isn't any different than asking how to use any other feature of the program. doesn't the program have a feature that allows users to create a dividend slip that is sent to CRA?

thank you

Jack_Canada · ‎February 08, 2023

I have never been able to create a (presumably) T5 slip showing my corporation's dividends through Profile T1 or T2 modules. I have always done it manually.

GT43353 · ‎February 08, 2023

that is too bad.

how do you do it manually? is there a good resource you can share that shows how it is done?

Mario B · ‎February 09, 2023

you can create a T5 slip with FX module

shelby113 · ‎February 10, 2023

if you did not purchase the FX module of Profile, you can create the T5 manually, through CRA's webforms:

https://apps.cra-arc.gc.ca/ebci/leb0/webform/pub/disclaimer.action?request_locale=en

Jack_Canada · ‎February 10, 2023

I just wanted provide an answer, but apparently Shelby113 had already done it. Since I don’t purchase the FX module of Profile, I do T4 and T5 slips/summaries manually.