This year the CRA has issued T5007 – Statement of Benefits tax slips to recipients of the Shelter Aid for Elderly Renters (SAFER) who have received more than $500 from the program.
Do I have to declare the T5007 in my income tax return?
Yes. The T5007 must be included in your tax return so that provincial and federal benefits are calculated correctly
Why am I getting a T5007?
The T5007 will be used to calculate entitlement to tax credits like the Goods and Services Tax (GST) credit and Canada Child Benefit, if applicable.
How will the T5007 amount affect my tax return and federal and income supports?
The amount shown on the T5007 tax slip is not taxable. It will not affect eligibility for government income supports such as Old Age Security (OAS) or Guaranteed Income Supplement (GIS), SAFER, or subsidized housing. The impacts to Fair PharmaCare deductibles have yet to be determined.
Where can I get more information?
If you have questions about filing your taxes, please call the CRA directly at 1-800-959-8281 or visit your local Service Canada Office. You can get help filing your taxes through the CRA’s free Community Volunteer Income Tax Program. To learn more, call 1-800-959-8281 or visit cra-arc.gc.ca/volunteer.