Requirements For Submitting Your Taxes
Joint Tax Returns
REMOVE ALL SLIPS/INFORMATION FROM THEIR ORIGINAL ENVELOPES
Group all Income slips by taxpayer. (i.e. T4, T4A, T4A0AS, T4AP, T5007, T4RIF etc)
Investments: Group by taxpayer all T5’s and T3’s (complete with accompanying supplemental information), realized capital gains/losses reports. Check with your financial advisor to ensure you have all your slips as well as any supplemental information and investment fees.
Joint investments: Group together joint T5’s, T3,s (complete with accompanying supplemental information), realized capital gains/losses reports. Check with your financial advisor to ensure you have all your slips as well as any supplemental information and investment fees.
Medical expenses: DO NOT PROVIDE RECEIPTS but keep for 6 years in case of a CRA review. Provide ONE total for any eligible out of pocket medical & dental expenses. Ensure you deduct any portion of the expenses reimbursed by your extended health provider(s). If you have more than one extended health provider both reimbursements should be considered when providing the total. If applicable, each dependant over 18 should have a separate total for their out of pocket medical expenses.
Donations: Donations don’t need to be separated by taxpayer but are required to be separated by year of donation.
RRSP’s. Group the RRSP’s by contributing taxpayer. If you are making monthly contributions, the 1st 60 days of the following tax year are required.
Small business or contract work: Complete the appropriate business form located in the forms section. Forms (tracc.tax). Receipts are not required but must be kept for 6 years in case of a CRA review. You may have a profit/loss statement but we still require this form completed to ensure the information required is provided.
Rental: Complete the following form for each rental. vehicle_expense_ws.pdf (wsimg.com). Although receipts are not required, they must be kept for 6 years in case of a CRA review.
Employment expenses: Provide a T2200 from your employer allowing you to deduct employment expenses and complete the following applicable form(s):
vehicle_expense_ws.pdf (wsimg.com)
home_expense_ws.pdf (wsimg.com)
To avoid additional charges and/or lengthy delays, prior to submitting your documents, check to ensure you have ALL the information required to prepare your tax return.
Single Tax Returns
REMOVE ALL SLIPS/INFORMATION FROM THEIR ORIGINAL ENVELOPES
Group all Income slips. (i.e. T4, T4A, T4A0AS, T4AP, T5007, T4RIF etc)
Investments: Group together T5’s, T3,s (complete with accompanying supplemental information), realized capital gains/losses reports. Check with your financial advisor to ensure you have all your slips as well as any supplemental information and investment fees.
Medical expenses: DO NOT PROVIDE RECEIPTS but keep for 6 years in case of a CRA review. Provide ONE Total for any eligible out of pocket medical & dental expenses. Ensure you deduct any portion of the expenses reimbursed by your extended health provider(s). If you have more than one extended health provider both reimbursements should be considered when providing the total. If applicable, each dependant over 18 should have a separate total for their out of pocket medical expenses.
Donations: Separate the donations by year of donation.
RRSP’s. If you are making monthly contributions, the 1st 60 days of the following tax year are required.
Small business or contract work: Complete the appropriate business form located in the forms section. Forms (tracc.tax). Receipts are not required but must be kept for 6 years in case of a CRA review. You may have a profit/loss statement but we still require this form to ensure the information required is provided.
Rental: Complete the following form for each rental. vehicle_expense_ws.pdf (wsimg.com). Although receipts are not required, they must be kept for 6 years in case of a CRA review.
Employment expenses: Provide a T2200 from your employer allowing you to deduct employment expenses and complete the following applicable form(s):
vehicle_expense_ws.pdf (wsimg.com)
home_expense_ws.pdf (wsimg.com)
To avoid additional charges and/or lengthy delays, prior to submitting your documents, check to ensure you have ALL the information required to prepare your tax return.