That's not true at all. Under 50$, banks are not required to send you a T5 but you absolutely are required to declare it. Even if its 1$.
Reference: https://helpcentre.hrblockonline.ca/hc/ ... ent-Income
Note: Even if you did not receive a T5 or an RL-3 slip, or if you earned less than $50 of investment interest during the tax year, you must still report all your investment income, including interest shown on your notice of assessment or reassessment from the CRA (interest paid or owed on a refund to you).