What tax slip will unitholders in a mutual fund trust receive related to their investment income?

Unitholders in a mutual fund trust receive a T3 tax slip, which is specifically designed for reporting income earned by the trust, such as interest, dividends, and capital gains. The T3 slip provides unitholders with details about their share of the income generated by the mutual fund throughout the year. This is important for tax purposes, as unitholders must report this income on their personal tax returns.

The T2 slip is used for corporation tax returns, while the T4 slip is related to employment income received from an employer. The T5 slip, on the other hand, is used to report various types of investment income received by individuals but does not apply specifically to mutual fund trusts. Hence, the T3 slip is the appropriate document for unitholders, ensuring that they correctly report their allocated income from the mutual fund trust.