Line 121 - Interest and other investment income

Line 121 - Interest and other investment income

Complete the chart for lines 120, 121, 180, and 221 on the Worksheet for the return and report on line 121 of your return the amounts you received, minus any part of those amounts you reported in previous years. Also, report amounts credited to you but that you did not receive (such as amounts that were reinvested). Generally, you report your share of interest from a joint investment based on how much you contributed to it.

Notes
Special rules apply for income from property (including money) one family member lends or transfers to another. For more information, see "Loans and transfers of property" at the end of Step 2 - Total income of this guide.

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 benefit payments into a bank account or trust in your child's name, the interest earned on those payments is included in your child's income.

Information slips

The amounts to report include those shown in boxes 13, 14, 15, and 30 of T5 slips, box 25 of T3 slips, and boxes 128 and 135 of T5013 slips. Also, report the interest on any tax refund you received in 2018, which is shown on your notice of assessment or reassessment.

Foreign income

If you received foreign interest or dividend income, report it in Canadian dollars. See "Report foreign income and other foreign amounts" at the beginning of Step 2 - Total income of this guide.

If, as a shareholder in a foreign corporation, you received certain shares in another foreign corporation, you may not have to report any amount as income for receiving those shares.

Bank accounts

Report interest paid or credited to you in 2018, even if you did not receive an information slip. You may not receive a T5 slip for amounts under $50.

Term deposits, guaranteed investment certificates (GICs), and other similar investments

The income you report is based on the interest you earned during each complete investment year. For example, if you made a long-term investment on July 1, 2017, report on your return for 2018 the interest that accumulated to the end of June 2018, even if you do not receive a T5 slip. Report the interest from July 2018 to June 2019 on your 2019 return.

Treasury bills

If you disposed of a treasury bill when it matured in 2018, you have to report as interest the difference between the price you paid and the proceeds of disposition shown on your T5008 slips or account statement.

If you disposed of a treasury bill before it matured in 2018, you may also have to report a capital gain (or loss). For more information, see Guide T4037, Capital Gains.

Earnings on life insurance policies

Report the earnings that have accumulated on certain life insurance policies in the same way as you do for other investments. Your insurance company will send you a T5 slip. For policies bought before 1990, you can choose to report accumulated earnings every year by telling your insurer in writing.