T5013 - Statement of Partnership Income
Under subsection 229(1) of the Regulations, all partnerships that carry on business in Canada or are Canadian partnerships or specified investment flow-through (SIFT) partnerships must file a partnership information return. However, under CRA administrative policy, certain partnerships that carry on business in Canada or are Canadian partnerships are not required to file a partnership information return.
For more information on SIFT partnerships, see SIFT Partnerships and Specified Investment Flow-Through (SIFT) partnership.
Partnerships that carry on business in Canada and Canadian partnerships – A partnership that carries on a business in Canada, or a Canadian partnership with Canadian or foreign operations or investments, must file a return if:
- at the end of the fiscal period, the partnership has an absolute value of revenues plus an absolute value of expenses of more than $2 million Footnote 1 , or has more than $5 million in assets Footnote 2 ; or
- at any time during the fiscal period:
- the partnership is a tiered partnership (has another partnership as a partner or is itself a partner in another partnership);
- the partnership has a corporation or a trust as a partner;
- the partnership invested in flow-through shares of a principal-business corporation that incurred Canadian resource expenses and renounced those expenses to the partnership; or
- the minister of National Revenue requests one in writing.
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Features of AvanTax eForms Software
- Imports data from Excel spreadsheets and CSV files.
- Files your T5013 information return with the CRA.
- Prints your T5013 slips and summaries on plain paper or CRA-supplied forms.
- Generates individual slip PDFs for electronic distribution to recipients.
- Distributes your slips to recipients via email or your intranet or employee portal.
- Prepares 30+ types of information returns, English & French.
- Carries your previous years’ data forward to save time in data entry.
- Unlimited year-round bilingual technical support via phone and email.
Relevant links to the CRA web site:
- T5013SCH1 - Partnership's Net Income (Loss) for Income Tax Purposes - Schedule 1
- T5013SCH2 - Charitable Donations, Gifts, and Political Contributions - Schedule 2
- T5013SCH6 - Summary of Dispositions of Capital Property - Schedule 6
- T5013SCH8 - Partnership's Capital Cost Allowance Schedule - Schedule 8
- T5013SCH10 - Calculation of Deduction for Cumulative Eligible Capital of a Partnership
- T5013SCH12 - Resource-Related Deductions - Schedule 12
- T5013SCH50 - Reconciliation of Partner's Capital Account - Schedule 50
- T5013SCH52 - Summary Information for Partnerships Allocating Renounced Resource Expenses to Members
- T5013SCH100 - Partnership's Balance Sheet Information - Schedule 100
- T5013SCH125 - Partnership's Income Statement Information - Schedule 125
- T5013SCH141 - Financial Statement Notes Checklist
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