Canadian Income Tax Services
Building the Foundations of Success
Preparation of Personal Income Tax Returns
Personal Information for all members of Family Living Together or going to school:
- Name
- Address
- Telephone Number (Home)
- Date of Birth
- Social Insurance Number (SIN)
- Marital Status and date of any changes during the calendar year
- Previous Surname if applicable
- Relationship to Head of Household
- Province of Residency as at December 31st of tax year
- Date of Entry or Departure if Canadian Residency Status changed during tax year
- Province of Self-Employment if applicable
- Property taxes and or Rent Paid during year
- Name of Landlord or Municipality (including Roll Number) where Property taxes or Rent is paid
- Answers to the following questions:
- Did the family receive any child tax benefit?
- Is any family member mentally or physically impaired?
- Did any family member incur tuition fees or education amounts or interest on student loans?
- Did any family member pay income tax installments during the year?
- Are any family members deceased in the current or subsequent tax year?
- Are any family members bankrupt?
- Are any family members non-resident electing under Section 216 or 217?
- Did the family incur child care expenses in the year?
Government Documentation:
- Prior Year Notice of Assessment
- Prior Year Notice of Reassessment (if applicable)
- Home Buyers Plan Statement
- Documents received from Revenue Canada during the past calendar year
TForms (Tax Forms received from outside sources, ie Employer, Financial Institution, Etc):
The most common TForms are as follows:
- T2201 Disability Certificates
- T2202A Tuition and Education Amounts Certificate
- T3 Trust Income
- T4 Employment Income
- T4A Pension and Retirement Income
- T4A(OAS) Old Age Security Income
- T4A(P) Canada Pension Income
- T4E Employment Insurance Income
- T4F Fishing Income
- T4PS Employee Profit Sharing Payments
- T4RIF Retirement Income Fund Income
- T4RSP Retirement Savings Plan Income
- T5 Investment Income
- T5004P Statement of Tax Shelter Loss or Deduction
- T5007 Statement of Benefits (WCB and Social Assistance)
- T5008 Statement of Securities Transactions
- T5013 Statement of Partnership Income
- TL11A Tuition and Education Amounts Ouside of Canada
- RC62 Universal Child Care Benefit
- GST370 Employee and Partner GST Rebate
Deductions:
Child Care Expenses including the following information:
- Name of Person or Organization supplying services
- SIN of Person supplying services
RRSP Receipts from financial institutions
Medical Receipts including:
- Prescriptions
- Dental
- Eye Glasses
- Medical Insurance Premiums to Non-Government Plans
- Transportation costs to or from Medical services
- Other Medical Expenses not covered by Insurance
Donation Receipts
- Charitable donations
- Political donations
Alimony or Separation Allowance
Employment Expenses:
- Accounting and Legal
- Advertising and Promotion
- Food, Beverages and Entertainment Expenses
- Meals and/or Lodging
- Parking
- Supplies (ie, postage, stationery, etc)
- Telephone
- Other Expenses
Work Space in Home Expenses:
- Square footage of Home
- Square footage used to earn income
- Heat
- Electricity
- Insurance (self employed individuals and commission employees only)
- Maintenance
- Mortgage Interest (self employed individuals only)
- Property Taxes
- Rent
- Telephone
- Other Expenses
Vehicle Expenses:
- Total KM driven in taxation year
- KM driven in taxation year to earn income
- Date Lease Started
- Date Lease Ended
- Fuel
- Maintenance and Repairs
- Insurance
- Licencing or registration
- Leasing Costs
- Rebates, allowances and reimbursements that are not included in income
- Parking Expenses
- Un-depreciated Capital Cost of Vehicle at beginning of year
- Cost of any additions during year
- Proceeds of any disposals during year
- Vehicle Loan Interest Expense
- Date Interest Payments Started
- Date Interest Payments Ended
- Total Interest Paid in the Fiscal Period
- Motor Vehicle Leasing Costs
- Total Lease Payments in the Current Fiscal Year
- Total Lease Payments Deducted in Previous Years
- Total # of Days Vehicle Leased in this and previous Fiscal Periods
- Manufacturer's List Price
- Amount of Refundable Deposit
- Reimbursements Received in this and previous Fiscal Periods
- Reimbursements Received in this Fiscal Period
Self Employment Information (see your Accountant)
Farming Information (see your Accountant)
Real Estate Rental Information (see your Accountant)
Investment Information:
- Proceeds of sales of investments
- Cost of purchases of investments
- Carrying Costs of investments including:
- Interest Costs
- Management Fees Incurred
- Professional Fees Incurred
The above is not intended to be all inclusive but will cover most situations.
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Email: Dale Nagy CPA, CMA
DC Nagy Consulting - 2021