Tax Return Checklist

Personal Income Tax Return Checklist

General Information We Need:

• Last Years Notice of Assessment
• Tax Installments Paid
• Changes in Personal Information such as your home address, marital status including Common Law. Note that you are considered common law if you have been living and having a relationship with another person for a period of at least 12 months.
• Dependants

Income

• T3 – Tusts, Mutual Funds
• T4 – Employment Income
• T4A(P) – CPP/QPP Income
• T4A(OAS) – Old Age Security
• T4A – Other Pensions/Income
• T4RSP – RRSP Withdrawals
• T4RIF – RRIF Withdrawals
• T4E – Employment Insurance
• T5 – Interest/Dividends
• T5007 – Social Assistance/WCB
• T5008 – Statement of Sale of Capital Property
• T5013 – Statement of Partnership Income(Loss)
• T600 – CSB’s Redeemed
• Alimony/Child Support Received
• Stock Option Details
• Other Investments/Interest not included in above slips

Self Employment/Business

• Revenue
• Expenses
• Capital Expenditures
• See Below for Office in Home and Automobile expense

Capital Gains

• Sale – Price, Date, number of units sold, and selling costs
• Purchase – Price, Date, and Number of units purchased.
• Stock split and/or dividend reinvestment information on all shares sold if not considered in the purchase price

Rental Properties

• Revenue and Expenses
• Purchase/Sale legal documents, if in current tax yearSee separate checklist for additional detail.

Deductions

• RRSP receipts including Venture Capital Fund Forms, if applicable
• Union/Membership dues
• Safety Deposit Box Rental
• Child Care: Receipts should contain:
  • Name of child
  • Name and address of caregiver
  • SIN of caregiver
  • Number of weeks at camp
• Moving Expenses: If you moved more than 40 km closer to you work
• Alimony paid. – a receipt is a good idea.
• Child support paid whether deductible or not, including recipient’s name and SIN
• Accounting and legal Fees
• Investment loan interest

Employment/Commission Expenses

• T2200- Conditions of employment from each employer
• Travel
• Meals and Entertainment
• Advertising and Promotion
• Conferences
• Supplies
• Professional Development Courses
• Cellular Phone
• See Below for Office in Home and Automobile expenses

Automobile

• km driven for business/employment
• Total km driven in year
• Gas
• Repairs and Maintenance
• Insurance
• Licensing Fees
• Lease payments with contract (for new leases only)
• Loan interest/terms
• Purchase/sale documents
• Parking
• Car allowance received (please let us know if it is included in your T4)

Office in Home

• Mortgage interest or rent paid
• Property Taxes
• Utilities (heat, hydro water)
• Telephone – the first line is considered personal
• Internet
• Office repairs/maintenance
• Insurance
• Percentage of home used for business

Tax Credits

• T2202 (Tuition and education amounts)
• Charitable donation receipts
• Medical receipts – consider asking your doctors and pharmacies for annual statements rather than accumulating individual receipts.
• Canadian Student Loan Interest Paid
• Final Property Tax bill/total rent paid in year
• Bus pass – receipts or passes