As tax season approaches, Canadians are starting to prepare their T1 personal tax returns. Filing your taxes can be a stressful and time-consuming task, but with the right tools and knowledge, it doesn’t have to be. To help simplify the process, we have put together a T1 Personal Tax Return Checklist specifically for Canadian taxpayers.
Our checklist includes all the essential documents and information you need to gather before starting your tax return, including your T4 and T5 slips, RRSP contribution receipts, charitable donation receipts, and more. We also provide tips on how to make the most of tax deductions and credits, such as the Canada Child Benefit, medical expenses, and tuition fees.
In addition to the checklist, we provide answers to some of the most common questions Canadian taxpayers have when it comes to filing their taxes. For example, we explain how to report income from side hustles or self-employment, what to do if you’ve moved provinces during the year, and how to claim expenses related to working from home due to the COVID-19 pandemic.
With our T1 Personal Tax Return Checklist, you’ll be well on your way to filing your taxes accurately and on time. By following our advice and gathering all the necessary documents and information beforehand, you’ll minimize stress and maximize your refund.
General Information
- Changes to any dependent information in your family (e.g. new children)
- New address information – did you sell primary residence in the year? If so, provide the amount sold for and year purchased
- Change to marital status
- Amount of tax instalments paid
- Notice of assessment/reassessment for prior year
- Last year’s income tax return (new clients only)
- Rent and/or property tax paid
Receipts And Information Slips
- Information slips (T3, T4, T4A, T5, T4RSP, T4E, T4RIF)
- RRSP contribution slips
- RRSP home buyers plan/lifelong learning plan statements
- Tuition fee slips (T2202)
- Union or professional dues receipts
- Official charitable/political donation receipts
- Medical expense receipts for yourself and family
- Student loan interest receipts
- Statement of interest paid for business/investment loans
Other Income And Deductions
- Amount of spousal and child support paid or received
- Other pensions not included in information slips
- Sale of stocks, bonds, mutual funds, real estate or digital currency
- Childcare expenses – including caregivers name and SIN
- Moving expenses
- Investment counsel/management fees
- Home buyer’s amount for first-time home buyer
- Disability tax credit (approved T2201 required)
- Staycation Tax credit – Submit accommodation receipts
Employment Expenses
- Did you work from home in 2022?
- T2200 (Statement of Conditions of Employment)
- Listing of employment expenses
- Number of kilometres driven for employment purposes and total kilometres driven for the year
- Area of home used for employment purposes and total area of home (sq. ft.)
- Detailed listing of self-employment income and expenses for the year
- Details on all fixed asset additions and/or disposals
- Number of kilometres driven for business purposes and total kilometres driven for the year
- Area of home used for business purposes and total area of home (sq. ft.)
Rental Income And Expenses
- Detailed listing of rental income and expenses for the year per property
- Details on all property repairs/maintenance and fixed asset additions for the year
Do you own foreign property/investments with a total cost of more than $100,000?
- Investment statements at December 31 for each Canadian brokerage account that holds foreign investments
- Details of any Canadian brokerage accounts that were closed during the year that held foreign investments
- Name of foreign institution/investment, country where property is held, adjusted cost base, highest cost base during the year, gross income and capital gains generated from property
- Listing of any income generating foreign real estate property owned