PERSONAL TAX CHECKLIST

PERSONAL TAX INCOME:

1. Employment income and commission –T4
2. Employment insurance benefits – T4E
3. Workers’ compensation benefits/Social Assistance – T5007
4.   Interest and dividends – T3/T5
5. Old age security pension – T4OAS
6. CPP benefits / Disability benefits – T4AP
7. Other pension or superannuation
8. Other pensions and annuities – T4A
9. Elected split-pension amount (T1032)
10. Taxable amount of dividends (eligible and other than eligible) from taxable Canadian Corporations
11. RRSP income or withdrawals T4RSP/T4RIF
12. Sales or deemed sale of stocks, bonds, or real estate
13. Spousal support received
14. Other income (Specify)
15. Business, Rental, Farm or Professional income /expenses (Only Self-employed)
16. Registered disability savings plan income- T4A
17. Taxable Capital Gains
    • Purchase and sale of qualified small corporations’ shares
    • Purchase and sale of publicly traded shares, mutual funds etc
    • Purchase and sale of qualified farm and fishing property etc
    • Purchase and sale of real estate, depreciable property, and other property (other than principal  residence)
    • Purchase and sale of bonds, debentures, promissory notes, and other similar properties etc
18. Statement on Partnership Income/Loss -T5013/T5013A
19. Universal child care benefits received – RC62

PERSONAL TAX DEDUCTIONS:

1. RRSP contributions receipts
2. Union or professional receipts
3. Universal child care benefits repayment
4. Child care expenses ( receipts, name and address of daycare)
5. Disability supports payments
6. Moving expenses (Moved 40 km closer to work or school)
7. Investment carrying charges and interest expenses
   • Loan interest for investment
   • Safety deposits box charges
   • Accounting fee
   • Management or Safe Custody fees
   • Investment counsel fees
8. Spousal support paid
9. Exploration and development expenses (T1229)
10. Northern resident’s deductions (T2222)

PERSONAL TAX CREDITS:

1. Public transit amount (you, your spouse, dependents children under 19)
2. Home renovation expenses (between $1000 and $10,000)
3. Children fitness amount (Max $500 for each child under 16 years of age or under 18 years of age if eligible for the disability amount)
4. Adoption expenses
5. Caregiver amount
6. Disability amount (for self) – T2201 required
7. Disability amount transferred from a dependent- T2201 required
8. Interest paid on student loans
9. Tuition, education, and textbook amounts– T2202/T2202A
10. Tuition, education, and textbook amounts from a child
11. Medical expenses for self, spouse or common-law partner and dependent children born in 1992 or later
12. Allowable amount medical expenses for other dependents
13. Charitable donations
14. Political contributions
15. Overseas employment tax credits (T626)
16. Federal foreign tax credits (T2209)

 OTHERS:

1. Last year T1 Notice of Assessment
2. Receipts are required in order to claim any income or deductions
3. Income taxes paid in installments

Contact us for any Assistance needed in completing your Tax

Address: 181 Meadowview Bay, Sherwood Park, Alberta T8H 1P7
Phone: 780-953-5250
Email: info@bomcas.ca

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