CRA Duplication of CI T5008 Records

April 28, 2016

We have been recently made aware that the Canada Revenue Agency (CRA) has duplicated T5008 records submitted by CI. As a result, clients using the new 'Auto-fill my return' feature, introduced by the CRA for the 2015 tax year, may see a double entry of T5008 information.

Using NETFILE-certified software, taxpayers and professional tax filers can utilize the newly introduced 'Auto-fill my return' feature to pre-fill tax returns with the data that CI and other institutions have filed with the CRA. This includes data on the T5008. Every year, CI is required to electronically file T5008 records (Statement of Securities Transactions) with the CRA to report the proceeds of dispositions for clients with non-registered accounts. Note that a separate T5008 record is filed for every disposition of units.

The CRA has acknowledged the duplication error and confirmed that the duplicated records will be removed with no impact to clients. We are working closely with them to ensure that it is quickly rectified. Clients should continue to refer to their year-end account statement or tax package for information on their reportable capital gains and/or losses.

If you have any question with regards to the above, please contact CI Client Services at 1-800-563-5181.

Yours truly,
CI Investments

CI Financial Corp. issued this content on 28 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 28 April 2016 20:07:01 UTC

Original Document: http://ci.com/web/whatsnew/whatsnew_index.jsp?lang=&no=160428