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  • Individual – Tax Checklist

    INDIVIDUAL – TAX CHECKLIST

    Bringing Key Records to Your Certified General Accountant

    INCOME

    • Employment income (All T4 Slips)
    • Investment income (T5)
    • Pension income (T4A, T4A(P), T4RIF, T4RSP)
    • Employment insurance (T4E)
    • Trusts income-mutual fund investments (T3)
    • Old age security/CPP benefits (T4OAS)
    • Income from partnerships (T5013)
    • Social assistance payments (T5007)
    • Workers compensation
    • Universal child care benefit (RC62)
    • RRSP Withdrawals
    • Rental Income
    • Business, Farm or Fishing Income
    • Spousal support payments received
    • Income from foreign investments
    • Details of real estate sales
    • Sale of securities such as stocks and bonds
    • (eg. trading summary from your broker)
    • All other income

    DEDUCTIONS – GENERAL

    • RRSP contributions
    • Medical expenses
    • Private health plan payments
    • Child care expenses
    • Children’s fitness/arts program
    • Charitable donations
    • Political contributions receipts
    • Tuition/education amount (T2202A)
    • Interest paid on student loans
    • Child/Spousal support payments
    • Public transit passes
    • Moving expenses
    • Interest charges/Safety deposit
    • Disability credit (T2201)
    • Property taxes/rent paid and to whom
    • Professional dues, union dues
    • Adoption expenses
    • Certain Legal fees
    • Tool expenses (trades person)

    DEDUCTIONS – EMPLOYEES

    • Conditions of employment form (T2200)
    • Home office expenses
      • Business portion (Area)
      • Rent/Mort interest paid
      • Utilities
      • Insurance
      • Property taxes
    • Commission sales-person
      • Advertising/Promotion
      • Meals & Entertainment
    • Motor vehicle expenses
      • Total KM/KM for work
      • Lease payments
      • Loan interest
      • Insurance
      • Repairs & Maint.
      • Gas
      • License & Reg.
      • New vehicle purchase invoice

    UNINCORPORATED BUSINESSES

    • Total sales for the year
    • Total expenses by category
    • Capital assets acquired
    • Home office/Vehicle expenses

    RENTAL PROPERTIES

    • Address and number of units
    • Rental income by unit
    • Rental expenses by unit/category
    • Motor vehicle expenses
    • Partners’ names, addresses and SINs
    • Legal fees

    OTHER ITEMS

    • Notice of Assessment (Prior Year)
    • Tax returns (Prior Year)
    • Other years’ reassessments
    • Contact/personal details if changed
    • Details of foreign property
    • Instalment payments
    • First time home buyers plan

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