T5003: Statement of Tax Shelter Information

If you invested in a tax shelter in 2016, you’ll receive either a:

According to the Canada Revenue Agency (CRA), a tax shelter is loosely defined as a gifting arrangement or the acquisition of property to obtain favourable tax benefits. Gifting arrangements where the donor has a limited recourse debt is also considered to be a tax shelter.

Whether gifting or acquiring, the idea behind a tax shelter is simple; the tax benefits and deductions resulting from a tax shelter arrangement should equal or exceed the cost of the gift or the property in question.

Tax Tip: There are several things you should do before participating in a tax shelter arrangement, including getting professional advice from an independent tax expert. Click this link to learn more.


Where do I claim this?

Follow these steps in H&R Block’s tax software to file your 2016 taxes:

  1. On the QUICK ENTRY tab, click the QUICK SLIP icon. You will find yourself here:

  1. Type T5003: Statement of tax shelter information in the search field and either click the highlighted selection or press Enter to continue.

  2. When you arrive at the page for your T5003, enter your information into the tax software.