Checklist

We have prepared the following income tax preperation checklists to help you assemble the information required.
Personal Tax Return
Business Tax Return
Personal Tax Return Checklist

General

  •  LAST YEAR’S TAX RETURN (IF THIS IS OUR FIRST YEAR)
  • LAST YEAR’S NOTICE OF ASSESSMENT (NOA)
  • DETAILS OF CHANGES TO PERSONAL STATUS – MARRIAGE, SEPARATION, BIRTHDATES, CHILDREN BIRTHDATES, NEW ADDRESS, TELEPHONE NUMBER, DISABILITIES, DEATH
  • AMOUNTS PAID BY TAX INSTALLMENTS

OTHER

  • SPOUSAL OR CHILD SUPPORT RECEIVED
  • PROPERTY TAX OR RENT PAID (IF FAMILY NET INCOME GREATER THAN $40,000)
  • EMPLOYMENT EXPENSES (AUTO / SUPPLIES / HOME OFFICE)(FORM T2200 REQUIRED – SIGNED BY EMPLOYER)
  • MOVING EXPENSES (T1M) IF YOU MOVED 40 KM CLOSER TO NEW PLACE OF WORK
  • RRSP HOME BUYER INFORMATION
  • DETAILS OF ANY FOREIGN INCOME

VEHICLE EXPENSE

  • FUEL, INSURANCE, LICENSE & REGISTRATION, MAINTENANCE & REPAIRS, PARKING, TOTAL KMS DRIVEN FOR BUSINESS AND PERSONAL

T-SLIPS

  • T4 EMPLOYMENT INCOME
  • T5 INTEREST OR DIVIDENDS
  • T3 MUTUAL FUND INCOME
  • T600 CANADA SAVINGS BOND INTEREST
  • T4A(P) CANADA OR QUEBEC PENSION
  • T4A PENSION, RETIRING ALLOWANCE, SCHOLARSHIPS
  • T4RIF REGISTERED RETIREMENT INCOME FUND
  • T4RSP WITHDRAWAL FROM A RRSP
  • T5007 WORKERS COMPENSATION, SOCIAL ASSISTANCE
  • T5013 PARTNERSHIP INCOME
  • T4E EMPLOYMENT INSURANCE BENEFITS
  • T4PS PROFIT SHARING PLAN

RENTAL PROPERTIES

  • DETAILS OF OWNERS/PARTNERS, GROSS REVENUE, ADVERTISING, INTEREST, MAINTENANCE & REPAIRS, OFFICE EXPENSES, PROPERTY TAXES, TRAVEL COSTS, UTILITIES

HOME OFFICE

  • ELECTRICITY, HEAT, WATER, MAINTENANCE & REPAIRS, INSURANCE, MORTGAGE INTEREST, % USE OF HOME FOR BUSINESS

DEDUCTIONS

  • RRSP CONTRIBUTION SLIPS
  • PROFESSIONAL FEES OR UNION DUES (IF NOT ON T4)
  • DONATIONS TO CHARITIES
  • MEDICAL EXPENSES (DRUGS, DENTAL, GLASSES, THERAPY, PRIVATE HEALTH PLAN PREMIUMS)
  • SUMMARIZE BY FAMILY MEMBER AND EXCLUDE ANY AMOUNTS REIMBURSED
  • CHILD CARE INFORMATION
  • TUITION FEES (POST-SECONDARY
  • INTEREST ON MONEY BORROWED TO EARN INVESTMENT INCOME
  • SAFETY DEPOSIT BOX (IF YOU OWN INVESTMENTS)
  • INVESTMENT MANAGEMENT FEES
  • PUBLIC TRANSIT MONTHLY PASSES
  • LABOUR SPONSORED TAX CREDITS
  • SPOUSAL OR CHILD SUPPORT PAID
  • POLITICAL CONTRIBUTION RECEIPTS

BUSINESS TAX RETURN CHECKLIST

EXPENSES

  • LEGAL PAPERS OF BUYING EQUIPMENT & VEHICLES USED IN YOUR BUSINESS
  • UTILITIES & TELEPHONE BILLS
  • PROPERTY TAXES
  • RENT/MORTGAGE PAPERS (PAYMENT + INTEREST PAID)
  • INSURANCE
  • ADVERTISING & PROMOTION
  • BUSINESS TAX, FEES, LICENSES, DUES & MEMBERSHIPS
  • DELIVERY AND FREIGHT CHARGES
  • OFFICE & SUPPLIES EXPENSES
  • SALARIES AND WAGES
  • TRAVEL EXPENSES
  • MEALS AND ENTERTAINING
  • OTHER RELATED EXPENSES

VEHICLE EXPENSE

  • TOTAL KMS/MILES DRIVEN DURING THE YEAR
  • KMS FOR BUSINESS USE
  • AUTO GAS/FUEL
  • AUTO REPAIRS AND MAINTENANCE
  • AUTO PARKING
  • INSURANCE
  • LICENSE
  • AUTO LOAN INTEREST
  • LEASING COSTS
  • ALL OTHER EXPENSES RELATED TO AUTOMOBILE

SALES/REVENUE

  • SALES/FEES/COMMISSION (T4A IF ANY)

HOME OFFICE EXPENSE

  • SPACE (SQ. FT.) USED FOR BUSINESS
  • TOTAL SQ. FT. OF HOME FOR BUSINESS USE
  • MORTGAGE INTEREST FROM ANNUAL MORTGAGE STATEMENT
  • RENTAL INCOME
  • UTILITIES (HEAT, HYDRO, WATER)
  • CONDOMINIUM FEES
  • PROPERTY TAXES
  • ANY MAINTENANCE EXPENSES

COST OF GOODS SOLD

  • OPENING INVENTORY
  • PURCHASES
  • ENDING INVENTORY