In Canada, what form is similar to the US 1099 or W9?

Question

T E : I think you are wrong.

Answer 1

The IRS Form 1099 is similar to the CRA’s T5 - Statement of Investment Income.  For example, 1099-DIV: Dividends and Distributions, and 1099-INT: Interest Income

The IRS Form W-9 is similar to the CRA’s TD1.  Canada Revenue Agency provides employers with TD1 Personal Tax Credits Return forms, both federal and provincial.  Employees complete the federal form as well as the form for their province/territory of residence, indicating which non-refundable tax credits they can claim.  The total of the claimable credits is then used to determine the employee's federal or provincial claim code, which is used to calculate how much income tax will be deducted from their pay.

New employees complete the TD1 forms when they are hired,  and are not required to complete them again unless they want to change their claim amounts.  Completing the form allows tax deductions to be reduced if the employee is eligible for tax credits other than the basic personal exemption.  Students can report their tuition, education and textbook amounts on this form to reduce their tax deductions.  This form should be filled out when starting new employment, or when there is a change in your entitlement to personal tax credits.  If no TD1 form is filled out, the employer will calculate taxes using only the basic personal exemption.