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TAX CHECKLIST

For your convenience, here is our tax checklist to make sure nothing is missed when you're preparing your tax documents. Contact us if you have questions. We are your tax and small business solution.

General Items

 

IMPORTANT: Please inform us of all changes to your personal status

(new spouse, baby, separation, new address, disabilities, etc.)

 

NEW CLIENTS:

copy of last year's return and Notice of Assessment

  • T4 (employment)

  • Pension, other income and COVID related payments (T4A)

  • T4A (commissions and self-employed)

  • T4E (employment insurance)

  • T4RIF (retirement income)

  • T4A(P) Canadian Pension Plan Benefits

  • T4OAS (old age security)

  • T4RSP (retirement savings plan income)

  • T3 (income from trust or investments)

  • T5 (investment income)

  • T5007 (workers' compensation/social assistance payments)

  • T5013 (partnership income)

  • Documents re: sale of investments/real estate

  • RRSP contribution slips

  • Medical receipts

  • Seniors or those eligible for DTC: Home Accessibility Expenses

  • Charitable donations

  • Tuition fees/education amount

  • Interest paid on student loans

  • Professional dues/union dues

  • Details on foreign property and investments

  • Carrying costs: broker fees, management fees or investment loan interest or 

  • Professional and tax planning fees 

  • Spousal or child support income/payments

  • Separation agreement (if it's first year)

  • Dependant information (i.e. children, elderly parent, new spouse, etc.)

  • Child care receipts

  • Property tax or rent receipts 

  • Moving expenses: details and receipts

  • Political contribution receipts

  • T2201 Disability tax credit claim form (completed by doctor, first year or renewal)

  • Tax installments paid in year (receipts required)

  • RRSP homebuyer and education withdrawal information

Employment Expenses, Self-Employed or Freelance Income,

 Commission Expenses

  • Revenue and expenses for the year

  • Details of new assets (receipts)

  • Business use of home - %

  • Business use of auto - km. (auto log)

  • Employees: Form T2200 from employer (Declaration of Conditions of Employment)  Receipts or spreadsheet to verify expenses.

  • Tools: receipts of tradesperson or apprentice tool costs in year

  • Auto operating costs

  • Truckers (TL2)

Worked from home in 2020? T2200S Declaration of Employment Expenses (simplified version) to claim office-in-home expenses during pandemic.  Ask your employer for this.

We are here to help you ensure you claim everything you are eligible for.  Talk to us...

Rental Property

  • Address and number of units

  • Annual rent received for each unit

  • Additions to assets

  • Current UCC of property as of Jan 1

  • Mortgage interest

  • Property taxes paid/utilities

  • Repairs and maintenance costs

  • Renovation costs

  • Insurance

  • Other rental costs

© 2016 by Milennium Tax Services.  

AT YOUR SERVICE SINCE 1998

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