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Personal Taxes Checklist

INCOME:

  • Employment income and commission –T4
  • Employment insurance benefits – T4E
  • Workers’ compensation benefits/Social Assistance – T5007
  •   Interest and dividends – T3/T5
  • Old age security pension – T4OAS
  • CPP benefits / Disability benefits - T4AP
  • Other pension or superannuation
  • Other pensions and annuities – T4A
  • Elected split-pension amount (T1032)
  • Taxable amount of dividends (eligible and other than eligible) from taxable Canadian Corporations
  • RRSP income or withdrawals T4RSP/T4RIF
  • Sales or deemed sale of stocks, bonds, or real estate
  • Spousal support received
  • Other income (Specify)
  • Business, Rental, Farm or Professional income /expenses (Only Self-employed)
  • Registered disability savings plan income- T4A
  • Taxable Capital Gains
    • Purchase and sale of qualified small corporations’ shares
    • Purchase and sale of publicly traded shares, mutual funds etc
    • Purchase and sale of qualified farm and fishing property etc
    • Purchase and sale of real estate, depreciable property, and other property (other than principal  residence)
    • Purchase and sale of bonds, debentures, promissory notes, and other similar properties etc
  • Statement on Partnership Income/Loss -T5013/T5013A
  • Universal child care benefits received – RC62

DEDUCTIONS:

  • RRSP contributions receipts
  • Union or professional receipts
  • Universal child care benefits repayment
  • Child care expenses ( receipts, name and address of daycare)
  • Disability supports payments
  • Moving expenses (Moved 40 km closer to work or school)
  • Investment carrying charges and interest expenses
    • Loan interest for investment
    • Safety deposits box charges
    • Accounting fee
    • Management or Safe Custody fees
    • Investment counsel fees
  • Spousal support paid
  • Exploration and development expenses (T1229)
  • Northern resident’s deductions (T2222)

CREDITS:

  • Public transit amount (you, your spouse, dependents children under 19)
  • Home renovation expenses (between $1000 and $10,000)
  • Children fitness amount (Max $500 for each child under 16 years of age or under 18 years of age if eligible for the disability amount)
  • Adoption expenses
  • Caregiver amount
  • Disability amount (for self) - T2201 required
  • Disability amount transferred from a dependent- T2201 required
  • Interest paid on student loans
  • Tuition, education, and textbook amounts– T2202/T2202A
  • Tuition, education, and textbook amounts from a child
  • Medical expenses for self, spouse or common-law partner and dependent children born in 1992 or later
  • Allowable amount medical expenses for other dependents
  • Charitable donations
  • Political contributions
  • Overseas employment tax credits (T626)
  • Federal foreign tax credits (T2209)

 OTHERS:

  • Last year T1 Notice of Assessment
  • To claim any income or deductions, receipts are required
  • Income taxes paid in installments