CANADA PERSONAL TAX CHECKLIST

CANADA PERSONAL TAX 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

CANADA PERSONAL TAX 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)

CANADA PERSONAL TAX 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
• Receipts are required in order to claim any income or deductions
• Income taxes paid in installments