Personal Tax Return Checklist
We don’t mean to get all up in your business, but to do a fantastic job for you, here is a list of some of the most common questions we need to know about you and some of the most common items that are on a personal income tax return. Maybe just click on each link and see what you might be able to throw our way! Most tax slips will arrive by the end of February but a lot of investment slips arrive near the end of March.
o Did you get married during the year?
o Did you get divorced or separated during the year?
o Did you immigrate or emigrate during the year?
o Did you own any foreign property during the year?
o Did you have a child(ren) during the year?
o Did you become disabled or quit work due to medical reasons during the year?
o Did you financially support anyone during the year (spouse, children, parents, siblings)?
o Did you medically take care of anyone during the year?
For more information on the types of slips you can receive, you can check HERE
o T3 – Allocations or distributions from trusts (including segregated funds, mutual funds and exchange-traded funds)
o T4 – Employment income
o T4RSP – Registered Retirement Savings Plan (RRSP) income
o T4RIF – Registered Retirement Income Fund income
o T4A – Other sources of income, including pensions,
o annuities, payments from a Registered Education Savings Plan, self-employment commissions, scholarships and more
o T4A (OAS) – Old Age Security
o T4E – Employment Insurance income
o T4A (P) – Canada Pension Plan or Quebec Pension Plan
o T5 – Investment income, including interest from bank accounts
o T5007 – Workers’ compensation/social assistance benefit
o T5013 – Partnership income
o RC62 – Universal Child Care Benefit
o T101 – Exploration and development expenses
For spreadsheets you can fill out to prepare your taxes that pertain to some of these items, click HERE
o Did you sell stocks, bonds or real estate?
o Do you have small business income/expenses?
o Do you work on commission?
o Do you use space in your home to work?
o Do you have farm or fishing income/expenses?
o Do you have rental income/expenses?
o RRSP contributions For more information on items you might be entitled to claim, check HERE
Deductions and credits can significantly reduce your tax bill. To back up your claims, you may need receipts for:
o Investment expenses
o Investment loan interest
o Moving expenses
o Medical expenses
o Charitable donations
o Political donations
o Child care expenses
o Children’s fitness and arts programs (eliminated after 2017)
o Adoption expenses
o Child support and alimony payments
o Tuition expenses
o Student loan interest
o Professional or union dues
o Professional certification exams
o Transit passes (eliminated after 2017)
o Car/travel logbook and expenses
o Expenses for a disabled person’s attendant
o Tool expenses (for tradespeople)
o Rent/property tax (in certain provinces)
o Are you a volunteer firefighter?
o Are you eligible for the Disability Tax Credit?
o Are you a Northern resident?
o Did you sell your primary residence?
o Any other deductions or credits?
o RRSP contributions
These are deductions and credits that you did not use in the past and are able t0 carry forward to use in future years. For example:
o Moving expenses
o Charitable donations
o Tuition fees paid
o Student loan interest
Let us know if you have any questions on anything!