2022 T5 | Page 7 | Income tax filing | Discussion forum

Trusts have an alternate $25/day penalty when the trust doesn't owe any taxes on the due date. This is from the 2022 T3 Trust Guide:

The trust may be subject to an alternative penalty if it has no unpaid taxes on the date it is required to be filed. This alternative late-filing penalty is $25 a day for each day the return is late, from a minimum of $100 to a maximum of $2,500.

Alexandre: I can't be sure there's no account waiting for me, though I am certain there is info about me lying around in their servers. Such an account shouldn't have ever been enabled, if it exists. If someone else opens an account in my name, I'm not on the hook for it in any event.

Can you think of any further ways to strengthen taxpayer security?
RetirEd

RetirEd said
Alexandre: I can't be sure there's no account waiting for me, though I am certain there is info about me lying around in their servers. Such an account shouldn't have ever been enabled, if it exists. If someone else opens an account in my name, I'm not on the hook for it in any event.

Can you think of any further ways to strengthen taxpayer security?
RetirEd  

If someone else opens account on your behalf, they may change direct deposit info and get hold of your tax refund, for example. They can also generate fake tax return with large tax refund.

We have accept reality which is: CRA MyAccount service does exist, the way it exists. We can't change what it is, but we have options how to use it.

To register with CRA MyAccount, I believe only the copy of last year tax return is needed. Unless they made it more secure.
I registered with CRA ages ago and system only asked me for one or two lines from tax return, for verification of who I am.

It would make sense to register with CRA MyAccount even if you do not plan to use it. You can register with user name and strong password, and they have 2FA now that requires phone number.
In my opinion, as long as your CRA MyAccount will have user name you don't use anywhere else and strong complex password you made just for that account, it is a stronger protection of your info than not having registered with CRA MyAccount at all.

Totally agree for reasons noted. I have taken it even further in that I have registered as AltaRed on a number of similar discussion forums just to mitigate someone else from using this Username nefariously. Sometimes one needs to self-protect.

If I've never used their on-line services, I can never be held responsible for whatever screwups they allow. And I never get a refund, so nothing can be stolen. My address is on my paper returns, and I'd be able to demonstrate it remains true for mailing purposes.

And I can't be required to use other services or notifications. I don't want to be required to pay for phone-linked texts or use any apps.
RetirEd

Jim Sherat said
Has anyone else who gets a T5 from Access [Hubert] received the paper copy, even weeks prior, but still not showing up in CRA MyAccount ?

That's our situation, from multiple Joint 1yr GICs, and 2022 was first year dealing with Hubert. Just not sure if action is required to try and determine why the details don't show in MyAccount after so much time? Thanks  

AltaRed said
The FI has been negligent filing the data with CRA and/or there has been a digital glitch at CRA getting it posted. Maybe the FI put the wrong SIN on the data file and it is posted on someone else's account. Either way, it is really not your concern to do anything about it. File your return with the correct data.  

No Hubert/Access yet it seems.

I also have a slip where CRA showed $0 and my slip is a loss (which is correct).
Its been a month and does not look like it will be fixed any time if at all. I speculate their auto feed system can not handle a negative number.
It will be interesting if they just use what they have on file and says I owe more tax...

I just discovered I reported the same income from XYZ TWICE in 2021. I think this is fixable using "Change My Return" but I've never done it before.

Any advice from the members?

Bill said
Yup, can be done, far as I remember you just tell them what line on the return you're changing and then tell them the new number for that line and they'll recalculate the return, you'll get a new Notice of Assessment.  

Thanks. Wish me luck.

oltunde said

Best to wait until around April 15, so all data updated on your CRA account. I have checked both in March and April, and some forms shows up in April.  

I went into CRA my account today. I looked and the Access/Hubert T5 hasn't been reported there yet either. Like you, I received my mailed paper T5 slip from Access quite some time ago.

Warwick111 said
Same here. My Hubert T5s are not in my CRA account yet but I was able to download the T5s from Hubert online on Feb. 23. I believed FIs are required to submit T5s to CRA by Feb. 28.  

Mine were dated Mar 17 last year at the CRA. Still MIA this year. Every other 2022 T'Slip is dated on or before Mar 6.

The Hubert T5 button pusher likely has a small dialog box "Press OK to Confirm Upload to the CRA" still on their screen ...