CHECK LISTS

T1 – Personal Tax Returns

T1 – T2125

Sole Proprietorship Tax Returns

T2 – Corporate Tax Returns

  • T4 slips (Employment income)
  • Employment insurance benefits (T4E)
  • Repayments of COVID-19 benefits
  • Interest, dividends, mutual funds (T3, T5, T5008)
  • T2202 Tuition and Enrollment Certificate
  • Old Age Security and CPP benefits (T4A-OAS, T4AP)
  • Other pensions and annuities (T4A)
  • Social assistance payments (T5007)
  • Workers’ compensation benefits (T5007)
  • Advance Canada Workers Benefit (CWB) payments (RC210)
  • Workers’ compensation benefits (T5007)
  • T4FHSA First Home Savings Account Statement
  • All other information slips
 

Other documentation

  • Notice of Assessment/Reassessment
  • Canada Revenue Agency correspondence
  • Sale of principal residence
  • Sale or deemed sale of stocks, bonds or real estate
  • Northern residents deductions receipts
  • Rental income and expense receipts
  • Business, farm or fishing income/expenses
  • Automobile/Travel logbook and expenses
  • Disability Tax Credit Certificate
  • Declaration of Conditions of Employment (T2200)
  • Volunteer Firefighters certification
  • Search and Rescue volunteers certification
  • Written certification for eligible educator school supplies

Receipts

  • RRSP contribution receipts
  • Support for a child, spouse or common-law partner
  • Professional or union dues
  • Tool expenses (Tradespersons & apprentice mechanics)
  • Labour Mobility Deduction for Tradespeople
  • Office-in-home expenses
  • Other employment expenses
  • Teacher’s school supplies
  • Medical expenses
  • Home renovations (seniors and disabled)
  • Multigenerational home renovation tax credit
  • Charitable donations
  • Political contributions
  • Childcare expenses
  • Adoption expenses
  • Moving expenses
  • Interest paid on student loans
  • Carrying charges and interest expenses
  • Exams for professional certification
  • Digital news subscription
  • Gross Income or Professional Income
  • COGS
  • Advertising
  • Meals and entertainment
  • Bad debts
  • Insurance
  • Interest and bank charges
  • Business taxes, licences and memberships
  • Office expenses
  • Office stationery and supplies
  • Professional fees (includes legal and accounting fees)
  • Management and administration fees
  • Rent
  • Repairs and maintenance
  • Salaries, wages and benefits (including employer’s contributions)
  • Property taxes
  • Travel expenses
  • Utilities
  • Fuel costs (except for motor vehicles)
  • Delivery, freight and express
  • Motor vehicle expenses (not including CCA) (amount 16 of Chart A)
  • Capital cost allowance (CCA). Enter amount ii of Area A minus any personal part and any
    CCA for business-use-of-home expense
  • Other expenses (specify):

Other documentation

  • Notice of Assessment/Reassessment
  • Canada Revenue Agency correspondence
  • Sale of principal residence
  • Sale or deemed sale of stocks, bonds or real estate
  • Northern residents deductions receipts
  • Rental income and expense receipts
  • Business, farm or fishing income/expenses
  • Automobile/Travel logbook and expenses
  • Disability Tax Credit Certificate
  • Declaration of Conditions of Employment (T2200)
  • Volunteer Firefighters certification
  • Search and Rescue volunteers certification
  • Written certification for eligible educator school supplies
 

Receipts

  • RRSP contribution receipts
  • Support for a child, spouse or common-law partner
  • Professional or union dues
  • Tool expenses (Tradespersons & apprentice mechanics)
  • Labour Mobility Deduction for Tradespeople
  • Office-in-home expenses
  • Other employment expenses
  • Teacher’s school supplies
  • Medical expenses
  • Home renovations (seniors and disabled)
  • Multigenerational home renovation tax credit
  • Charitable donations
  • Political contributions
  • Childcare expenses
  • Adoption expenses
  • Moving expenses
  • Interest paid on student loans
  • Carrying charges and interest expenses
  • Exams for professional certification
  • Digital news subscription
 
  • Adjusted Trial Blance
  • General

    • Last Year’s Tax Return (If This Is Our First Year)
    • Last Year’s Notice of Assessment (NOA)
    • Details Of Changes in Directors or change in shareholding
    • Details in case of Amalgamation, Merger or conversion or new related or associated corporation
    • Amounts Paid By Tax Instalments.

    Financial Documents:

    • Backup of Accounting Software
    • Bank Statements/ Reconciliation
    • Property, Plant & equipment – Addition, Disposal
    • Mortgage documents, loan or lease documents
    • Sales register
    • Payroll Summary and returns
    • GST/HST returns

    Vehicle Expense

    • Total Kms/Miles Driven During the Year
    • Kms for Business Use
    • Auto Gas/Fuel
    • Auto Repairs and Maintenance
    • Auto Parking
    • Insurance
    • License
    • Auto Loan Interest
    • Leasing Costs

    Home Expense

    • Space (Sq. Ft.) Used For Business
    • Total Sq. Ft. Of Home for Business Use
    • Mortgage Interest from Annual Mortgage Statement
    • Rental Income
    • Utilities (Heat, Hydro, Water)
    • Condominium Fees
    • Property Taxes
    • Any Maintenance Expenses

Other documentation

  • Preparing T2 – Sch 200, Identification section and importing GIFI – Sch 100, 125,141
  •  Schedule 1 – Accounting income vs. Taxable income, deductible vs. non-deductible items
  • Schedule 2 – Charitable donations and gifts
  • Schedule 3 – Portfolio, connected and non-connected dividends received, Part IV tax, RDTOH, and Capital dividends
  • Schedule 4 – Capital and non-capital loss carry back request and loss carry forward 
  • Schedule 6 – Disposition of capital property i.e. shares, bonds, real estate;  calculation of capital gain/loss
  • Schedule 7 – Aggregate investment income vs. Active Business Income; Additional refundable tax on passive income i.e. interest income & rental income 
  • Schedule 8 – CCA Classes, Calculation of CCA deduction, recapture, and terminal loss
  • Schedule 9 & 23 – Related and Associated Corporations; Sharing of SBD limit
  • Schedule 50 – Shareholder Information