T5 Form | Nayax Compliance
A guide to the T5 (Statement of Investment Income) slip what it is, who issues it, and why Nayax requires it for Canadian regulatory and tax compliance with the CRA.
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What is a T5 Form?
The T5 formally called the Statement of Investment Income is a Canadian tax slip used to report income earned from investments held in non-registered accounts. If you earn more than $50 in investment income, the financial institution managing your account is required to issue you a T5. Income types covered include dividends from shares, interest from savings accounts, royalties, annuities, and income from bonds or accounts held with brokers or dealers.
Note that the CRA does not require a T5 to be issued for amounts under $50, so you may not receive one if your investment income falls below this threshold.
If you do receive a T5, you are required to report the income on your annual tax return. Make sure to keep accurate records for this purpose.
Why Nayax Requires This
As a financial services provider operating in Canada, Nayax is required to meet regulatory and tax compliance obligations set by the Canada Revenue Agency (CRA). As part of this, Nayax may be required to issue T5 slips to customers who earn eligible investment income through their Nayax account. Collecting the necessary information ensures that Nayax can accurately report this income to the CRA on your behalf and that you receive the correct documentation for your own tax filing.
Failure to provide the required information may affect your ability to use certain Nayax services.
The information in this article is provided for general informational purposes only and does not constitute legal or tax advice. Nayax makes no representations regarding the accuracy, completeness, or currency of this content. For guidance specific to your situation, consult a qualified attorney or accountant licensed in your jurisdiction.
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