What Wealthsimple provides
Wealthsimple provides tax documents and activity exports in its app, across its self-directed trading and managed accounts. For non-registered accounts you’ll generally receive a T5008 covering your dispositions, along with T3 and T5 slips for distributions and dividends. Trades inside a TFSA or RRSP aren’t reported and aren’t taxable.
Why the cost base may be incomplete
Like every broker, Wealthsimple can only compute cost base from activity it sees in your Wealthsimple accounts. If you transferred shares in, hold the same security at another broker, reinvested distributions, or received equity-comp shares, its cost figure can be partial or blank — while the proceeds are usually reliable.
A Wealthsimple detail worth knowing
Wealthsimple’s managed portfolios rebalance automatically, which can generate many small dispositions in non-registered accounts — each one a taxable event with its own cost base to track.
Getting your data into shape
Export your Wealthsimple activity (transactions and slips), then build a pooled cost base across all your accounts and brokers — applying reinvested distributions, return of capital, FX on US trades, and any corporate actions. That reconciled ACB, not the raw slip, is what belongs on your Schedule 3.