Preparing to File your Return
Tips to make Tax Time easy
Tips to make Tax Time easy
When you are organizing your information for your tax return, remember to provide the following documents or papers (where applicable):
- Your "Notice of Assessment", which you received from CRA last year, after your Tax Return was processed. This will provide us with your RRSP limit.
- A copy of your last year's Income Tax Return. If you are already our client, this will not be necessary.
INCOME RECEIVED
- All T-slips for income received
- Employment Income (T4, T4A, etc.)
- Investment Income (T5, T3, etc.)
- Pension Income (T4A, T4 (OAS), T4 (P), T4 (RCA), etc.
- Workers Compensation (T5007)
- Government Assistance (Welfare)
- Employment Insurance Income (T4E)
- Receipts for any other income you have received (if available). If there are no receipts (e.g. for tips or odd jobs), be prepared to give a total of the amount received.
- If you have business income, rental income or commissioned sales income, you should contact us ahead of time to determine the requirements.
DEDUCTIONS(You must have receipts or documentation)
- RRSP Contributions
- Charitable Donations
- Day Care / Child care
- Tuition Paid for College/University
(Amount & number of months - a form T2200A from the educational institution is also required.) - Interest Paid on Student Loan
(if you are a student) - Interest paid on loans for some investments are also eligible
- Medical Bills - dentist, prescription medications or glasses, hospital, other medical expenses, etc.
- Moving Expenses
(if you moved more than 40 km. to start a new job or business or to attend school) - Property Taxes paid on your primary residence
(Amount, # of months and municipality) - Rent Paid on your primary residence
(Amount, # of months and name of landlord) - Business Expenses
(if you have Business or Commissioned Sales Income and have a home office - For commission sales, a T2200, completed by your employer will be required to claim home office deductions) - Rental Expenses
(if you have Rental Income)