Line 12100 - Bank accounts, term deposits, guaranteed investment certificates (GICs), and other similar investments

Note: Line 12100 was line 121 before tax year 2019.

Bank accounts

Report interest paid or credited to you in 2020, even if you did not receive an information slip. You may not receive a T5 slip for amounts under $50.

Generally, you report your share of interest from a joint bank account based on how much you contributed to it.

Term deposits, guaranteed investment certificates (GICs), and other similar investments

On these investments, interest builds up over a period of time, usually longer than one year. Generally, you do not receive the interest until the investment matures or you cash it in.

For example, interest on a compound GIC is earned on a monthly basis and is automatically reinvested, earning compound interest until the bond is cashed or matures. Interest on a compound GIC is paid when the investment is cashed, not annually.

The income you report is based on the interest you earned during each complete investment year.

For example, if you made a long-term investment on July 1, 2019, report on your return for 2020 the interest that accumulated to the end of June 2020, even if you do not receive a T5 slip. Report the interest from July 2020 to June 2021 on your 2021 return.


If your investment agreement specified a different interest rate each year, report the amount on your T5 slips, even if it is different from what the agreement specifies or what you received. The issuer of your investment can tell you how this amount was calculated.

For most investments you made in 1990 or later, you have to report the interest each year, as you earn it.

For information about reporting methods for investments made in 1989 or earlier, see Interpretation Bulletin IT-396, Interest Income.

Completing your tax return

Report on line 12100 the total interest and investment income.

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