The Canada Revenue Agency (CRA) recently released the 2024 T5008 Publication (T4091: Return of Securities Transactions). There is one notable change for filers who use aggregate reporting. Previously, aggregate reporters filed one T5008 slip per payee per calendar year using code ‘1231’ in Box 14 for transactions involving identical securities. For 2024, filers that use aggregate reporting may need to file and distribute two slips per payee to account for mid-year changes to the capital gains inclusion rate. The aggregate of transactions occurring between January 1, 2024 and June 24, 2024 (Period 1) must be reported on one slip using code ‘0624’ in Box 14. The aggregate of transactions occurring between June 25, 2024 and December 31, 2024 (Period 2) must be reported on a separate slip using code ‘1231’ in Box 14.
Taxpayers should also note that electronic filing will be available beginning January 13, 2025. The guide has been edited to clarify that there is a fee for making payments to CRA using a QR code at the Canada Post. A new phone number has been added for taxpayers using a Video Relay Service: 1(800) 561-6393.
The 2024 T5008 publication can be found here.
