Statement of Benefits (T5007)

Effective February 2022, BC Housing will issue a T5007 – Statement of Benefits slip for the 2021 tax year for the following rental assistance programs:

  • Shelter Aid for Elderly Renters
  • Rental Assistance Program
  • Canada – BC Housing Benefits
  • Recipients of Portable Rent Supplements administered by BC Housing

T5007 slips must be issued when the recipient receives more than $500.00 in the tax year.

Please note:

In order to issue the T5007 slip as required by Canada Revenue Agency and the Income Tax Act, BC Housing needs your Social Insurance Number (SIN).  If we do not currently have your SIN on file, BC Housing will be contacting you by letter or phone call to update your information.

How is this going to impact me?

These amounts are not taxable, but you must include them in your net income to ensure any benefits that you may be entitled to are calculated properly. These benefits include the goods and services tax/harmonized sales tax credit, the Canada Child Benefit, as well as certain provincial or territorial tax credits and certain 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).

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

The T5007 tax slip amount will not impact the benefit amount for the SAFER program or rental fees in subsidized housing. 

Frequently asked questions

  1. Why is BC Housing starting to issue T5007 Statement of Benefits?

    BC Housing is issuing T5007 – Statement of Benefits 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.

  2. What type of payments need to be reported on a T5007?

    Payments made by BC Housing 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.

  3. What is a T5007? 

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

  4. Why is a T5007 Tax Slip issued to me?

    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.

  5. How does a T5007 amount affect my tax return? Are my federal and provincial benefits impacted?

    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.

  6. What if I am no longer receiving benefits from BC Housing, how will I get my T-slip?

    If you received over $500 from BC Housing last year, a T5007 Statement of Benefits will be sent to your last known address. This will be sent even if you no longer receive benefits.

  7. When will I get my 2021 T5007?

    The T5007 tax slips will be sent in February 2022.

  8. What if there are two adults listed on my file?

    The T5007 tax slip will be sent to only the primary applicant listed on file.

  9. What if my benefit is paid directly to my landlord?

    You are still the recipient of the benefit and will receive the T5007 slip in your name. It will be sent to your most recently mailing address on file.

  1. Why is BC Housing asking for my Social Insurance Number (SIN)?

    To provide a T5007 slip, BC Housing needs to issue it with your SIN. This is a Canada Revenue Agency requirement based on the Income Tax Act.

  2. What if I don't have a SIN? How do I get one? 

    You will need to apply for one. You can apply for a SIN number online or by mail. Please follow the website below to go through eligibility, documents and application process: https://www.canada.ca/en/employment-social-development/services/sin.html.

  3. I lost my SIN. How do I replace it?

    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.

  1. Where can I get help to do my taxes? 

    There are free tax clinics available throughout the province. Find the clinic closest to you by visiting: https://www.canada.ca/en/revenue-agency/campaigns/free-tax-help.html

    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]. For more information on this program, please visit https://taxaiddabc.org/

  2. How do I file this in my Income Tax Return?

    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. For more information: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-145-social-assistance-payments.html

  3. When do I need to file my taxes?

    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.