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.
Will this have any impact on client rates for home and community care services?
The Ministry of Health introduced a temporary policy that excludes any non-taxable social assistance payments that are reported on Canada Revenue Agency T5007 forms from client rate calculations.
This new policy has been communicated to the health authorities and T5007 amounts have already been excluded from client rate calculations for all HCC clients, effective January 1, 2023. The letters that clients will receive, advising them of their 2023 rate will include this information. Case managers should be aware of this policy and calculate rates accordingly. Anyone that is having an issue can be directed to their regional Patient Care Quality Office.