There is a local manufacturing company that is unionized. The union president has reached out and asked me some questions. He took $20,000 of the union dues money and invested it in a GIC with a 12 month term. He did this last year. The union was just issued a T5 slip by the bank for the interest. He is under the impression that they do not file tax returns as the company pays the employees involved with union business as if they had worked their normal shifts then the union reimburses the company that money. So the union no longer issues T4’s to the union executive. Should the union be filing tax returns each year? Or is that something the International union would take care of on their behalf?
Thank you for your help.