Line 121 - Interest and other investment income
Interest and other investment income make up part of your total income and are reported on your return.
The amounts you report for the year depend on the type of investment and when you made it. Report amounts you received minus any part of those amounts you reported in previous years. Also report amounts that were credited to you but that you did not receive (such as amounts that were reinvested).
Interest, foreign interest and dividend income, foreign income, foreign non-business income, and certain other income are all amounts you report on your return. They are usually shown on the following slips:
- T5, Statement of Investment Income
- T3, Statment of Trust Income Allocations and Designations
- T5013, Statement of Partnership Income
- T5013A, Statement of Partnership Income for Tax Shelters and Renounced Resource Expenses
You may not receive a slip if the income is less than $50, but you must still report this income.
You also have to report the interest on any tax refund you received in 2012, which is shown on your notice of assessment or notice of reassessment.
Special rules apply for income from most property (including money) one family member lends or transfers to another. See Loans and transfers of property and interpretation bulletins IT-510 and IT-511.
Generally, when you invest your money in your child's name, you have to report the income from those investments. However, if you deposited Canada child tax benefit or universal child care benefit payments into a bank account or trust in your child's name, the interest earned on those payments is your child's income.
For children born in born in 1995 or later reporting certain investment income, see Split income of a child under 18.
Generally, you report your share of interest from a joint investment based on how much you contributed to it.
Completing your tax return
Enter on line 121 the total interest and investment income.
Forms and publications
- General Income Tax and Benefit Package - Guide, return and schedules
- Schedule 4, Statement of Investment Income
- IT-510, Transfers and Loans of Property Made After May 22, 1985 to a Related Minor
- IT-511, Interspousal and Certain Other Transfers and Loans of Property
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