Path: utzoo!utgpu!watmath!julian!uwovax!gerard
From: gerard@uwovax.uwo.ca (Gerard Stafleu)
Newsgroups: can.general
Subject: Re: Bank obnoxiousness, tax woes.
Message-ID: <1952@uwovax.uwo.ca>
Date: 28 Mar 89 08:26:35 GMT
References: <145@sickkids.UUCP>
Lines: 21
Organisation: University of Western Ontario, Canada

In article <145@sickkids.UUCP>, mark@sickkids.UUCP (Mark Bartelt) writes:
> As I sat down to begin fussing with my taxes last weekend, I discovered
> that I never received T5 slips for several of my bank accounts. 
> 
> I wonder how many people find themselves in an intolerable situation:
> Revenue Canada requires that you report all earned interest, but many
> people never receive T5s for some of their accounts.
> 
> Comments?

How about the following.  Make a guesstimate of the avarrage amount you 
had in your accounts year round, then apply the avarage current interest 
rate to it.  This should result in a realistic looking number, say 
$186.35 .  I used to do this (be it in another country where the banks 
don't report the interest in any other way than on your normal monthly 
statements), and it worked quite well.  

Problems would only occur if the bank _did_ report interest to Revenue 
Canada and not to you.  In this case RC would correct the problem for 
you, and you made an innocent "mistake".  However, if the banks don't 
send you a T5, I doubt if they would send RC one.