Question: what is the difference between a t3 and t5 tax slip?
Answer: The difference between a T3 and a T5 is determined by the type of mutual fund. If a mutual fund is a trust, you will receive a T3. If a mutual fund is a corporation, you will receive a T5. If you 'cash out' an investment you may receive a T5008 slip, or alternatively an account statement from your investment company.