Statement of Benefits (T5007)

Issuing T5007 – Statement of Benefits is required to comply with the Income Tax Act and Canada Revenue Agency (CRA) requirements. CRA strives to maintain the fairness of the Canadian tax system by ensuring payers, including provincial and territorial governments, report payments made to recipients. This is a cornerstone of our tax system as it ensures that accurate information is used to determine the benefits to which Canadians are entitled, and supports equal treatment of every taxpayer, irrespective of where they live.

Payments made by BC Housing, or Housing Providers based on a means, needs, or income test, including payments made directly to individuals or indirectly to third parties (i.e., landlords) for the benefit of the individuals. This includes payments for shelter requirements.

The T5007-Statement of Benefits is a tax slip to help recipients prepare their income tax return. It includes the amount of provincial assistance issued to in a tax year.

The Canadian Revenue Agency (CRA) requires everyone who receives more than $500 in provincial assistance to report this income on lines 14500 and 25000 of their federal income tax return.

The amounts shown on the T5007 tax slip are not taxable. They must be included in net income, so benefits are correctly calculated.

Some benefits that may be affected are:

• Goods and Services Tax (GST) Credit
• Canada Child Benefit
• Provincial or Territorial Tax Credits
• Non-Refundable Tax Credits

Amounts on the T5007 tax slip will not affect eligibility for Old Age Security (OAS) or the Guaranteed Income Supplement (GIS).

The T5007 tax slip amount will not impact the benefit amount for any BC Housing programs.

A T5007 Statement of Benefits will be sent to the last known address and a copy sent to CRA. This will be sent if more than $500 was paid during the tax year, even if the recipient no longer receive benefits. 

To comply with CRA requirements, T5007 tax slips will be sent by the last business day of February each year. 

The T5007 tax slip will be issued in the name of the primary recipients listed on file.

The tenant is still the recipient of the benefit and will receive the T5007 slip in their name. It will be sent to the recipients last known address.

Recipients of a rent supplement to help pay rent in the private market will be issued a T5007 Statement of Benefits. To complete the T5007 slip your SIN is needed. This is a Canada Revenue Agency requirement based on the Income Tax Act. 

You will need to apply for one. You can apply for a SIN number online or by mail. 

There are many ways to find your SIN number. You can check with your employer, past tax documents, Service Canada, Canada Revenue Agency or Ministry of Social Development and Poverty Reduction.

To replace a lost SIN card, you will need to visit your local Service Canada centre with identifying documents. If you have any questions or do not live close to Service Canada call 1-866-274-6627 (Toll-Free) to discuss other options. Service Canada no longer issues cards if you lost a SIN card.

There are free tax clinics available throughout the province. Find your nearest clinic.

If you are receiving disability assistance, the Disability Alliance BC (DABC) Tax AID Programs offer free tax preparation services. Contact: 236-477-1717 or 1-877-940-7797 (Toll-free) or [email protected].

On line 14500 of your Income Tax Return, please enter the amount in box 11 of your T5007 slip. Next, claim a deduction on line 25000 for the social assistance payment entered on line 14500.

The Income Tax Act states that the deadline for most Canadians to file their income tax and benefit return is April 30th each year. It is important to file your return on time. You may be entitled to funds, benefits or credits.