Just re-hashing this.
So to confirm, if I took out a 1 year GIC on Jan 5, 2023, I don't have to declare any interest income for 2023? As the GIC matures on Jan 5, 2024, I only have to declare the full interest earned in my 2024 tax return when I have receive my T5 from the bank. This seems odd to me as the majority of the time duration of the GIC was in 2023. I just don't want to make a mistake on my return for 2023 by not including any interest earned. Thanks for any helpful replies..