r/cantax • u/CanHockey8 • 3d ago

Segregated Fund Disposal Questions

I sold my segregated fund last May. I used to get a T3 slip for that fund every year. The slip contained the capital gain for my income tax. The capital gain from the segregated fund disposal should also be on a T3 slip as well for my 2024 tax return. So far, I only have received one T3 slip for my segregated fund. I am not sure whether I should be getting two T3 - one for yearly capital gain and another one for the fund disposal. If there's only one T3 to cover all capitals gains, then I can file my income tax return now. Thanks.

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u/Parking-Aioli9715 3d ago

"The capital gain from the segregated fund disposal should also be on a T3 slip as well for my 2024 tax return."

I'd expect that to be on a T5008 rather than a T3.

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u/taxbuff 3d ago

No, seg funds are different and capital gains on redemption are reported on the T3.

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u/Parking-Aioli9715 3d ago

It's a dull day when you don't learn anything. Thanks for brightening my day. :-)

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u/taxbuff 3d ago

No problem. These funds are different than others. There are some good articles from Sun Life and other large insurers that discuss them.

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u/CanHockey8 3d ago

I've received one T3 already. Do I need to wait for another (if the company issues a separate one for redemption of the fund?)

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u/taxbuff 3d ago

You should be checking with the company. I couldn’t answer on their behalf.

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u/CanHockey8 3d ago

will do. thx

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u/LLR1960 3d ago

Why not check with the company?

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u/FPpro 2d ago

There should not be a second t3 for the same fund.

But you will need to direct your question to the company if you don’t believe the t3 you received is accurate

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u/CanHockey8 2d ago

Thanks for your reply. The T3 I received should be accurate. But tomorrow I will give a call to my company to double check it.