The T5013 is the information return certain partnerships file to report their income and allocate each partner's share, which partners then report on their own returns.
A partnership itself does not pay income tax, its income flows through to the partners. Larger partnerships must file a T5013 Partnership Information Return, reporting total income and issuing a T5013 slip to each partner showing their allocated share of income, losses, and credits.
Each partner then reports their allocated amounts on their own T1 or T2. Filing thresholds depend on the number of partners and the size of the partnership. Partnerships that do not meet the filing threshold still allocate income to partners, but without the formal return.
A three-partner professional practice earns $300,000. It files a T5013 and issues each partner a slip for their $100,000 share, which each partner reports on their personal return.
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HST combines the 5% federal GST with a provincial component in five participating provinces. For 2026 the combined rates are 13% in Ontario, 15% in New Brunswick, Newfoundland and Labrador, and Prince Edward Island, and 14% in Nova Scotia since 1 April 2025. Elsewhere you charge the 5% GST alone, or GST plus a separate provincial tax. The rate follows the province of supply, not where your business sits.
Property tax is an annual municipal levy on real estate, charged by the city or town where the property sits rather than by the CRA. The bill is the assessed value of the property multiplied by the tax rate the municipality sets each year, and it funds local services such as roads, waste collection, policing and the education portion the province adds. Assessed value is set by a provincial assessment authority, so it is not the price you paid.
Two things drive the bill: the assessed value of that specific property and the rate the municipality sets. Assessment reflects size, age, lot, condition, renovations and recent comparable sales, so neighbouring houses rarely match. Rates differ because each council raises what its own budget needs from its own assessment base, and property class matters, with residential, multi-residential and commercial treated differently. A local education levy and area charges for services such as water or transit widen the gap.
For an individual it is the social insurance number, which the CRA uses to identify you on your return and your benefit accounts. A business gets a business number, extended by a program account for each purpose, such as corporate income tax, payroll and GST/HST. Anyone who must file but cannot obtain a social insurance number, a non-resident for example, applies to the CRA for an individual tax number instead.
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Ex Big 4 — Ernst & Young, Deloitte · International & cross-border tax specialist · CPA Canada (In-Depth Tax Program) · Chartered accountant, ICAI & MIA
Udit Gupta has over 15 years of experience helping corporations and business owners with corporate structuring, corporate tax filing, bookkeeping, payroll, GST/HST, cross-border tax and CRA representation. Big 4 trained at Ernst & Young and Deloitte, and qualified as a chartered accountant in India and again in Malaysia, he founded his accounting practice in 2014 to serve entrepreneurs, startups and non-resident business owners across Canada. View full member bio.
The Institute of Chartered Accountants of India — member 521458 · Malaysian Institute of Accountants — member CA 44667 · Ex Big 4: Ernst & Young, Deloitte · CPA Canada (In-Depth Tax Program), completed 19 Dec 2023 · In-Depth GST/HST Part I, 12 Jul 2022 · Part II, 5 Jul 2023
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