CXP
COLUMBIA PROPERTY TRUST, INC.
stock NYSE

We split it 50/50. I’m not an accountant, but from what I understand and what the CRA guidance seems to point to, these referral bonuses count as taxable income for the person who actually receives the payout. So if someone tries to split it unevenly, they could end up paying more tax than they get back.
On the tax side, CRA has weighted in on very similar referral situations, and the pattern is pretty clear: the person earns the bonus, not the account and that makes it taxable even if no slip is issued. In its [RRSP/TFSA folio](https://www.canada.ca/en/revenue-agency/services/tax/technical-information/income-tax/income-tax-folios-index/series-3-property-investments-savings-plans/series-3-property-investments-savings-plan-folio-10-registered-plans-individuals/income-tax-folio-s3-f10-c3-advantages-rrsps-rrifs-tfsas.html), CRA explains that if you get a bonus for referring someone to open or fund an investment account, you [earned that bonus](https://taxinterpretations.com/content/539435) \- it's not a tax-free windfall.

You can also see this in how other financial institutions handle it. DUCA’s “[Refer a Friend](https://www.duca.com/assets/pdf/Media_CXP/Terms%20and%20Conditions/Refer-a-Friend_Terms.pdf)” campaign explicitly tells both referrer and referee that the cash bonus is taxable “other income” and that no T5 will be issued, so it’s on you to report. PenFinancial’s and ([iCash](https://icash.ca/terms-conditions#referral-program)) referral programs use similar language. These programs are almost identical to Webull’s referral promo structure.​

Not receiving a slip doesn’t make something non-taxable; lots of things are taxable without a T-slip like tips, small side gigs, and various promo payments.

We split it 50/50. I’m not an accountant, but from what I understand and what the CRA guidance seems to point to, these referral bonuses count as taxable income for the person who actually receives the payout. So if someone tries to split it unevenly, they could end up paying more tax than they get back.
On the tax side, CRA has weighted in on very similar referral situations, and the pattern is pretty clear: the person earns the bonus, not the account and that makes it taxable even if no slip is issued. In its [RRSP/TFSA folio](https://www.canada.ca/en/revenue-agency/services/tax/technical-information/income-tax/income-tax-folios-index/series-3-property-investments-savings-plans/series-3-property-investments-savings-plan-folio-10-registered-plans-individuals/income-tax-folio-s3-f10-c3-advantages-rrsps-rrifs-tfsas.html), CRA explains that if you get a bonus for referring someone to open or fund an investment account, you [earned that bonus](https://taxinterpretations.com/content/539435) \- it's not a tax-free windfall.

You can also see this in how other financial institutions handle it. DUCA’s “[Refer a Friend](https://www.duca.com/assets/pdf/Media_CXP/Terms%20and%20Conditions/Refer-a-Friend_Terms.pdf)” campaign explicitly tells both referrer and referee that the cash bonus is taxable “other income” and that no T5 will be issued, so it’s on you to report. PenFinancial’s and ([iCash](https://icash.ca/terms-conditions#referral-program)) referral programs use similar language. These programs are almost identical to Webull’s referral promo structure.​

Not receiving a slip doesn’t make something non-taxable; lots of things are taxable without a T-slip like tips, small side gigs, and various promo payments.