Get Ready for Tax Season : Personal Income Tax Checklist

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With tax season quickly approaching, its time to get all you documents in order for your accountant. Can’t remember what you need, no worries we have you covered. Tax season can get the best of us and no matter how organized you hope to be each year, there are a lot of things to remember. There always seems to be an item or two missing when it’s time to file your taxes.Use our checklist to make tax time stress free.

Slips

  • T4 slips (Employment income)
  • Employment insurance benefits (T4E)
  • Interest, dividends, mutual funds (T3, T5, T5008)
  • Tuition / education receipts (T2202A)
  • Universal Child Care Benefit (RC62)
  • Old Age Security and CPP benefits (T4A-OAS, T4AP)
  • Other pensions and annuities (T4A)
  • Social assistance payments (T5007)
  • Workers’ compensation benefits (T5007)
  • All other information slips

Receipts

  • RRSP contribution receipts
  • Spousal support
  • Professional or union dues
  • Tool Expenses (Work related)
  • Medical expenses
  • Transit pass receipts (seniors)
  • Charitable donations
  • Political contributions
  • Child care expenses
  • Adoption expenses
  • Moving expenses
  • Interest paid on student loans
  • Carrying charges and interest expenses
  • Office-in-home expenses
  • Exams for professional certification

Other documentation

  • Notice of Assessment/Reassessment, Canada Revenue Agency correspondence
  • Sale or deemed sale of stocks, bonds or real estate
  • Northern residents deductions receipts
  • Rental income and expense receipts
  • Business, farm or fishing income/expenses
  • Automobile / Travel logbook and expenses
  • Disability Tax Credit Certificate
  • Declaration of Conditions of Employment (T2200)
  • Custody Arrangement documentation

**Please note every situation is different, this is for reference purposes only.**

If you have any questions relating to taxes or looking for an accountant to help you in the tax season don’t hesitate to reach out to us at Pam Little CPA.

Pam Little is a Chartered Professional Accountant with over 20 years of experience. She helps small and mid-sized businesses manage their revenue and expenses and maximize tax benefits. To book a free consultation contact Pam Little, CPA at pam@pamlittlecpa.com or call 416-268-1650.

 

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