What is a T5007?

A T5007 is a statement issued by the Workers Compensation Board that reports specific compensation benefits paid to you or on your behalf during a calendar year.  

Are WCB benefits taxable income?

WCB benefits are not taxable. However, the T5007 must be included in your net income because it is used to calculate various tax credits such as the Child Tax Benefit, the GST credit, and the Guaranteed Income Supplement.

What benefits are included on a T5007?

The T5007 includes the following benefits:

• wage loss benefits 
• pension benefits EXCEPT for impairment awards on claims with an accident date after December 31, 1991
• Special Additional Compensation (SAC)
• retirement benefits (monthly and lump sum payments).

Medical aid payments, Survivor's Lump Sum payments and Group Life Insurance payments are not included on the T5007. Canada Revenue Agency tax regulations state that all payments included on the T5007 are based on the date they were issued.  For example, if a payment for wage loss covering a number of previous years was made this year, the entire payment would be on this year’s T5007.  

Does the injured worker or the employer receive the T5007?

Even if the WCB pays benefits to your employer, i.e., your employer continued to pay your wages while you were on compensation, you will receive the T5007.  

If my employer continued to pay me directly as opposed to my receiving benefits from the WCB, do I still report the T5007 on my tax return?

If your employer paid you based on gross wages, you will also receive a T4 with an amount recorded in Box 77. Both your T5007 and your T4 should be reported on your tax return. 

I had more than one claim during the year. Why did I only receive one T5007?

The WCB issues one T5007 for all of your claims, instead of one T5007 for each claim. A T5007 Detail Remittance is attached if there are multiple claims included. 

When will I receive my T5007 and what do I do if I need a duplicate?

T5007s will be mailed out to you by February 28.  Please wait for your T5007 in the mail until March 7.  If you have not yet received your T5007 by this date, call our Claims Service Centre at 204-954-4321 or toll free at 1-855-954-4321 to request a duplicate.

What do I do if information on the T5007 is incorrect?

If you think information on your T5007 is incorrect, please call our Claims Service Centre at 204-954-4321 or toll free at 1-855-954-4321.

As a worker, if you have questions on how to complete your tax return, please contact your local CRA office or call their inquiry line at 1-800-959-8281.  

As an employer, if you have questions on how to complete your employees' T4 slips, please contact your local CRA office or call their inquiry line at 1-800-959-5525.