Please note that it could take to end of March 2021 to receive all documents relating to your 2020 tax return.

In order to prepare your income tax return accurately, please make sure you provide us with all documents, receipts, and income records.

Here is a handy checklist to help you with preparing the required information. It is a general list, so not all parts may be applicable to your situation.

General Items

• A copy of last year’s return, including spouse’s return if not being processed together
• Contact details (address, email, Phone #)
• 2019 Notice of Assessment
• Other years’ reassessments (if any)
• Details of changes to your personal status such as dates of marriage, separation, divorce or widowed, births and deaths
• Names of spouse, dependents and dates of birth
• Installment tax payments
• Custody Arrangement documentation and separation agreement
• Details of foreign property holdings (if any) including cost and type of property held
• Any correspondence from CRA

Income

• Employment income (T4)
• CERB and other COVID benefits you received (T4A)
• Pension income (T4A, T4A(P), T4RIF, T4RSP)
• Old age security (T4OAS)
• Investment income (T5)
• Income from employment insurance (T4E)
• Income from partnerships (T5013)
• Workers compensation/social assistance payments (T5007)
• Details of the sale of securities such as stocks and bonds (e.g. trading summary from your broker)
• Details of real estate sales
• Income from foreign investments
• Spousal support payments received

Deductions

General

• RRSP contributions
• Medical, dental, prescription drugs, nursing home expenses
• Payments to a private health insurance plan
• Charitable donations
• Tuition fees/education amount (T2202A/TL11A) for yourself or transferred from a dependent such as a child or grandchild
• Interest paid on student loans
• Interest on loans assumed to purchase investments
• Safety deposit box fees
• Professional dues, union dues
• Professional consultant fees
• Professional certification exams
• Legal fees paid to establish child or spousal support or to enforce a pre-existing agreement
• Legal fees paid to recover wages from your employer
• Details of people you support and their medical status
• Moving expenses if you moved 40km or closer to work or school
• Political contributions receipts
• Disability tax credit claim form completed by authorized health practitioner (T2201)
• Spousal support payments paid
• Adoption expenses

Employee

• Declaration of conditions of employment form (T2200)
• Details of expenses not reimbursed by your employer including travel expenses (e.g. parking, taxis, bus fare), supplies and salaries of assistants
• Office rent if required as a condition of employment

Home office expenses if it is your principal workplace or used exclusively, on a regular or continuous basis for activities such as business-related meetings; include details of rent paid, repairs and maintenance costs, utilities and if you are a commissioned salesperson also property taxes and home insurance. Indicate the total area of your home and the area used for your work space.

• If you are a commissioned salesperson, details supporting advertising expenses, promotion, meals and entertainment
• Motor vehicle expenses

Motor Vehicle (If Eligible)

• Vehicle, purchase invoice/lease agreement
• Total kilometers driven, and kilometers driven just for work
• Details of total expenses incurred for gasoline, maintenance and repairs, insurance, license and registration, loan interest and lease payments

Business Income (Sole Proprietor & Partnership)

• Total sales revenue for the year
• Total expenses listed by category for the year
• Capital assets acquired (e.g. computers, furniture and equipment)
• Home office expenses – include details of rent paid or if you own your home, details of repairs and maintenance, utilities, property taxes, insurance, mortgage interest, square footage of both home and office space
• Motor vehicle expenses

Rental Income

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

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Please note that above list may not apply to everyone and some situations may require more information that is not listed above. We will be happy to advise you of what additional information may be required once we know your situation.

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