Important income tax information about royalty payments
Thursday, February 22, 2018
The royalty payments affiliates receive from Access Copyright are considered taxable income. These payments are tracked and recorded annually on a T5 slip. Slips were mailed to affiliates on February 22.
Box 17 of the T5 slip indicates the amount of royalties received from Access Copyright for 2017, and can be reported on an income tax form in one of three ways:
- Line 104 (Other Employment Income)
- Line 135 (Self-Employment Income)
- Line 121 (Interest and Other Investment Income)
Affiliates who report royalty income from Access Copyright on either line 104 or 135 of their return may be contacted by the Canada Revenue Agency and asked to clarify where royalty income was reported.
For more information on reporting royalty income on an income tax return, please visit the Canada Revenue Agency website.
If you did not receive a T5 slip from Access Copyright by February 28, please contact our Royalty and Client Services department.