📑 Form T5013SCH130 – Partnership Interest & Financing Expenses and Revenues

Form T5013SCH130, officially titled Partnership Interest and Financing Expenses and Interest and Financing Revenues, is a supplemental schedule that some partnerships in Canada must file as part of their T5013 partnership information return. It’s used to report amounts related to interest and financing costs and interest and financing income that may affect a partner’s tax calculations under certain complex tax rules.

Official CRA form page: Download Form T5013SCH130 – CRA

📌 What T5013SCH130 Is Used For

This schedule reports:

  • 💰 Interest and financing expenses paid or payable by the partnership
  • 📈 Interest and financing revenues earned by the partnership

These amounts may affect how certain partners (such as corporations or trusts) compute their taxable income, particularly under the excessive interest and financing expenses limitation rules (EIFEL). In some cases, if a partnership has specific kinds of financing arrangements and includes corporations or trusts as members, filing this schedule becomes mandatory.

📥 How to Download and Complete the Form

You must download the Schedule as a PDF to your computer and open it with Adobe Acrobat Reader 10 or later. The fillable version is available for printing or electronic completion.

  • 📄 Accessible Fillable PDF – fill online and save locally before submitting
  • 🖨 Print PDF – print and complete by hand if preferred

Filing is typically done along with the T5013 partnership information return.

📍 When You Must File T5013SCH130

A partnership is generally required to file Schedule 130 if both of the following conditions apply during the fiscal period:

  • 📌 The partnership has a corporation or trust as a member (or deemed member).
  • 📌 The partnership has interest and financing expense (IFE) or interest and financing revenue (IFR) that affects a member’s tax calculations under EIFEL rules.

If none of the members are corporations or trusts that are required to file similar Schedule 130 forms with their own tax returns, the partnership may be exempt from filing this schedule.

📊 Why This Schedule Matters

Form T5013SCH130 supports the application of the Excessive Interest and Financing Expenses Limitation (EIFEL) rules in Canada, which are complex tax rules limiting the amount of interest deduction or income inclusion for certain partners. Correct reporting ensures that each partner’s share of interest and financing items is captured accurately in tax calculations.

If this schedule is omitted when required, it can affect the partnership’s information return and delay assessments, and proper filing may be needed for reassessments under Canadian tax law.

📌 Filing Tips

  • 🔍 Keep detailed records of loans, financings, interest payments and interest revenues, including dates and counterparties.
  • 📁 Confirm early whether your partnership must include Schedule 130 with the T5013 return to avoid late‑filing issues.
  • 📊 Use certified tax software or CRA’s electronic filing services for accurate submission and acknowledgment.

Source: Canada Revenue Agency – official Form T5013SCH130 and requirements for reporting partnership interest and financing figures.