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  • Below is a general guideline of information we suggest you bring in when having your return prepared. If you have information in addition to what is listed here that you feel is important please bring that in as well. Click here to use the printable checklist for your convenience.

 

Has any of the following information changed?

  • phone number
  • address
  • marital status
  • new baby

Did you sell your principal residence?

Do you have dependent children?

  • New baby
  • Childcare receipts
  • Post secondary tuition (T2202 from school website)

Do you have employment income?

Do you have other income?

Are you collecting any pension income?

  • OAS
  • CPP
  • T4A
  • T4RIF
  • Social Security
  • US and other foreign pensions
  • Etc.

Did you purchase or withdraw from you RRSPs?

  • RRSP contribution receipts/amounts
  • T4RSP for withdrawals

Do you have investment income/collect interest?

  • T3 for trust and dividend income
  • T5 for interest and investment income
  • T5008 or Realized gains/loss report from financial advisor or bank
  • Interest and carrying charges paid to earn investment income

Do you have employment expenses?

Do you have education expenses?

  • T2202 for tuition receipt (found on school account website under income tax)
  • Student loan interest

Did you receive or make any spousal or child support payments?

  • Include yearly totals

Do you pay rent or property taxes?

  • Please include amounts for potential government benefit

Did you have medical expenses?

  • Please include itemized list or organize receipts

Did you make charitable or political contributions?

  • Please include itemized list or organize receipts

 

 

 

 

  • Canadian personal tax returns – April 30
  • Business returns – June 15
  • US tax returns – April 15
  • T3-Trust/Estate Returns – March 31
  • You can claim out-of-pocket medical expenses that are greater than 3% of your net income
    • Acceptable medical expenses include:
      • medical premiums
      • prescription drugs, vision, dental
      • massage, chiropractor, physiotherapy
      • fertilely treatments
      • medical cannabis
      • attendant care
    • Not acceptable medical expenses include:
      • vitamins and supplements
      • over the counter medication (even if prescribed by a doctor)
      • colonoscopy pre-drink
      • cosmetic surgeries
    • for a complete list click here
  • You need to keep your tax returns for 6 years after you file your return
  • If you have a balance owing for 2023 and are unable to pay it by the April 30 payment due date, the CRA will charge you compound daily interest starting May 1, 2024, on any unpaid amount owing for 2023.
  • The late-filing penalty is 5% of your 2023 balance owing, plus an additional 1% for each full month that you file after the due date, to a maximum of 12 months.
  • If the CRA charged you a late-filing penalty for 2020, 2021 or 2022 and requested a formal demand for a return, your late-filing penalty for 2023 will be 10% of your balance owing. You will be charged an additional 2% for each full month that you file after the due date, to a maximum of 20 months.
  • The 2023 tax brackets are:
    • 15% $0 -$53,359
    • 20.5% $53,359 – $106,717
    • 26% $106,717 – $165,430
    • 29% $165,430 – $235,675
    • 33% over $235,675
  • The 2023 personal amount is $15,000
  • There are 2 options for applying for DTC:
  1. electronically through the CRA’s My Account service.
    • Follow the directions from CRA here
  2. Mail in paper copy to CRA
    • Download the DTC form 
    • Have your doctor fill it out
    • mail completed form to address listed on the bottom of the last page of the application