There are a number of documents that you should consider when gathering your personal tax information for preparation. This is the most common items. Download the entire check list below to ensure you keep as much income as you are entitled.
- 1. All income, support and benefits received under COVID-19 relief programs. Some of these benefits are taxable while others are not. Official tax slips may have been issued for some, but not all. For support where no slip is available, details surrounding the amount and types of payment are required. Please provide details on all federal, provincial/territorial and other support received. Please also provide any details on any repayments of these benefits.
Key COVID-19 related federal personal support programs:
|Employment Insurance (EI) program||ü Yes|
|Canada Recovery Benefit (CRB)||ü Yes|
|Canada Recovery Sickness Benefit (CRSB)||ü Yes|
|Canada Recovery Caregiving Benefit (CRCB)||ü Yes|
|Canada Emergency Student Benefit (CESB)||ü Yes|
Key COVID-19 related federal government support for business, rental or other income:
|Canada Emergency Wage Subsidy (CEWS)||ü Yes|
|Canada Emergency Rent Subsidy (CERS)||ü Yes|
|Canada Recovery Hiring Program (CRHP)||ü Yes|
|Canada Emergency Business Account (CEBA)||ü Yes*|
* The forgivable portion of the interest-free loan under the CEBA is taxable. Please provide the details.
As no slips are provided specific to these programs, please provide the amounts received and the period to which they relate.
- 2. All information slips, such as: T3, T4, T4A, T4A(OAS), T4A(P), T4E, T4PS, T4RIF, T4RSP, T5, T10, T2200, T2202, T101, T1163, T1164, TL11A, B, C and D, T5003, T5007, T5008, T5013, T5018 (subcontractors) and corresponding provincial slips.
3. Details of income or receipts for which no T-slips have been received, in respect of items such as:
- other employment income (including any severance or termination pay, retiring allowance, tips or gratuities received, details on stock option plans and Form T1212),
- business, professional, partnership and rental income (including all amounts received from the sharing economy, such as AirBnB, VRBO, Uber, etc),
- alimony, separation allowances, child maintenance (including divorce/separation agreement),
- pensions (certain pension income may be split between spouses),
- interest income earned but not yet received (such as amounts from Canada savings bonds, deferred annuities, term deposits, treasury bills, mutual funds, strip bonds, compound interest bonds),
- scholarships, fellowships and bursaries, and
- any other income received (e.g. director fees, executor fees, etc).
4. Details of other investments, such as:
- capital gains/losses realized (this may be obtained, in some circumstances, from your investment advisor)
- real estate, or oil and gas investments – including financial statements,
- bitcoin or other cryptocurrency transactions, and
- any other investments.
5. Details of other expenses, such as:
- business, professional, investment and rental expenses (including capital purchases, such as vehicles and equipment, including the invoice or bill of sale), and
- employment related expenses – provide Form T2200, signed by your employer, as well as the invoices and receipts for required employment expenses. See item 6 for details on working from home.
6. Details related to working from home.
Due to the COVID-19 pandemic, many individuals worked from home during a portion of 2021. In some cases, a deduction may be available.
- Temporary flat rate method (simple) – Last year, a temporary flat rate claim method was available for employees that worked from home more than 50% of the time for at least four consecutive weeks due to COVID-19 and were not fully reimbursed for their expenses. $2/day could be claimed for each day that they worked from home. The Liberal party platform committed to extend this to 2021; however, it has not yet been officially announced by the government. In the case that this does become available, please provide the number of days you worked from home if you met this test. In 2020, no employer certification was required.
- Detailed method – Taxpayers were alternatively permitted to make a claim based on actual expenses incurred.
To be deductible under this method, one of the following has to be met:
- the home was where the individual mainly (more than 50% of the time) did their work, or
- the individual used the space exclusively to earn business/employment income, and used it on a regular and ongoing basis for meeting clients, customers or other people in respect of the business/ employment.
Employees must also provide a T2200. Last year employees could provide a T2200S instead; however, it has not yet been announced whether this form will be used again this year.
If these tests are met, even for a portion of the year, a reasonable claim can be made.
To make a claim, please provide details on the portion of your home that was used as a workspace (e.g. approx. square footage of work space versus other space). If the space was not used exclusively for business/employment purposes, provide the approx. time it was used for business/employment purposes. Also, provide the period that you worked from home and met one of the above tests, and the expenses incurred that related to working from home. Such expenses include, for example, home internet access fees, rent, utilities and office supplies.
7. Details and receipts for other deductions and tax credits, such as:
- moving expenses (please advise us if you have, or may have, immigrated or emigrated to/from Canada),
- child care expenses (if the services are provided by an individual, their SIN should be on the receipt),
- alimony, separation allowances, child maintenance (including divorce/separation agreement),
- adoption related expenses,
- interest paid on qualifying student loans,
- professional and union dues,
- medical expenses for you, your spouse and any dependent persons,
- charitable donations (including those to registered journalism organizations) and political contributions,
- clergy residence deduction information (including Form T1223),
- tuition fees for both full-time and part-time courses for you or a dependant – including mandatory ancillary fees and Forms T2202, TL11A, B, C and D where applicable,
- disability supports expenses (speech, sight, hearing, learning aids for impaired individuals and attendant care expenses),
- mining tax credit expenses,
- registered retirement savings plan and any other pension plan contributions and withdrawals (including withdrawals and repayments for the home buyers plan and lifelong learning plan),
- film and video production expenditures eligible for a tax credit,
- tools acquired by tradespersons and eligible apprentice mechanics,
- scientific research and experimental development expenses,
- home accessibility tax credit – certain expenditures (up to $10,000) may be eligible for a tax credit if made in relation to a renovation or alteration of your home to enhance mobility or reduce the risk of harm for an individual who is either, eligible for the disability tax credit, or 65 years of age or older at December 31, 2021. Examples of eligible expenditures include amounts relating to wheelchair ramps, walk-in bathtubs, wheel-in showers and grab bars,
- eligible educator school supply tax credit – if you are a teacher or early childhood educator, please provide receipts (up to $1,000) for eligible school supplies purchased in the year. An eligible supply expense is an amount paid in the year for supplies used or consumed in the school or regulated childcare facility in the performance of your employment. Supplies include consumable goods such as construction paper, flashcards, items for science experiments, art supplies, stationary items, and durable goods limited to games, puzzles, books, containers and educational support software. Please also provide a certification from your employer attesting to the eligible supplies expense,
- Canada training credit (CTC) – a refundable tax credit may be available to reimburse up to half of eligible tuition and fees associated with work-related training for individuals aged 25 to 64 years old at the end of the year. Please provide details on tuition and other fees related to training. Amounts refunded through the CTC will not also be eligible for the tuition tax credit. To get the credit this year, you had to meet a number of conditions in the 2020 year, such as filing a tax return, being resident in Canada throughout the year, being 25 to 64 years at the end of year, having at least $10,100 from maternity/paternity benefits or working income and having net income that does not exceed $150,473, and
- digital news subscription tax credit – a 15% non-refundable tax credit based on up to $500 of amounts paid for a qualifying digital news subscription (to access content that is primarily written news) will qualify for this credit.
- 8. Details on the disposition of your principal residence or other real property. Please provide: proceeds of disposition, a description of the property, and the year the property was acquired. If disposing of other real property, please provide the cost of the property in addition to the requirements listed above. This is required even if there is no gain on the disposition of the property.
In addition, please indicate if you have a change-in-use of your property. This could include, for example, converting some or all of your principal residence into an income earning property, such as a rental suite. It could also include converting a property used for short-term rentals, such as AirBnB or VRBO, to long-term rentals.
- 9. Name, address, date of birth, social insurance number (SIN), and province of residence on December 31, 2021, if changed in the current year.
- 10. Personal status – single, married, common-law, separated, divorced or widowed. If there has been a status change in the year, please provide the date of the change.
- 11. List of dependants/children including their income, birth date, and SIN.
- 12. Details regarding residence in a prescribed area which qualifies for the northern residents deduction.
- 13. Details on 2021 income tax instalments or payments of tax.
- 14. 2020 notice of assessment/reassessment and any other correspondence from CRA (including correspondence received after the filing of this personal tax return).