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Video instructions and help with filling out and completing Fill Form 8815 Dividend

Instructions and Help about Fill Form 8815 Dividend

The t5 2022 for dividends paid from private companies for owners of companies who want to prepare their own t5 this video shows you how to fill the t5 form to report dividends paid in 2022 by the BC Tchaikovsky CA at Canada taxman dot CA here's the t5 form you can easily find the form on the Canada Revenue Agency site let's start filling it out fill first the fill in the year in this box 2022 next you can fill in your company's data page you would name your company let's say it's a cap company let's say Kent company I'll see your name is Joe cat ok now here here's where you gotta fill in the boxes that report dividends unless you have a very unusual situation where your income is extremely high you have over $500,000 in taxable income you would report your income your dividends paid to you in these three boxes box 10 11 and 12 these are others in eligible dividends you didn't do anything wrong to become other than eligible but that's way it is if your tax rate is 50 and a half percent or something like that rather than 25 percent your dividends paid out of your company is other than eligible okay let's start filling in the boxes let's say your company paid you a hundred thousand dollars in dividend so in this box ten actual amount of dividends paid other than eligibles to put in a hundred thousand enter okay now in this box here you gotta fill in this other box 11 and 12 as well box 11 is taxable amount of dividends and here that formula in 2022 changed from what it was in 2022 and previous years in 2022 the formula is a hundred thousand dollars the actual times one point one eight so that's one hundred times one point one eight equals one one eight zero zero zero one point one eight and now in box 12 again afforded me that has changed from other years it's thirteen percent of the amount in box 10 so if box ten is a hundred thousand box twelve dividends the dividend tax credit would be thirteen percent of that which is thirteen thousand and the only other thing you gotta fill out on this form is box twenty-two the recipient identification number which is your social insurance number it's nine digits so fill it fill it in I just plug in the number there and obviously you gotta fill in your address here your address and address of your company and that should do it that's total that's the form the next step is to fill in the t5 summary you can also find that very easily on the CRA website oh well very easy first remember to put in the year to 2022 if that's the year put in your dang the account number that's the nine digit business number of your company whatever it is let's say eight five two two two two three five eight that's the digit now that's the nine digit this number your company I think that should do it put the name of your company or name of the nominee or can you put your name lemon address here your name is and have you filed them well answer that and then big make sure you're consistent with the information provided on the t5 itself so you would put in you put in this box here other than yeah here's the mountain for actual amount of dividends other than then eligible we said it was hundred thousand well put that in here sorry hundred thousand taxable amount one hundred eighteen thousand different tax credit we said is thirteen thousand and that should be it put your name contact person name telephone number and I should do it and you mail it in this on page two it'll give the address where you send this this T Phi summer too hope this helps need help please contact me BC Tchaikovsky CA Y fizzling my site at the contact contact page at Canada taxman up.

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