This is What We Need to Prepare Your Personal
and Sole Proprietor Tax Returns..
1. A list of everyone we will be doing T1 Personal Tax Returns for
1a. SIN Numbers
1b. Dates of Birth
1c. Full Address and Phone Number
1d. Canadian Citizen?
1di. If so, would you like to register with Elections Canada?
1e. Are you or would you like to sign up for Online CRA mail?
1ei. If signing up please list email for each person signing up
2. Marital Status
2a. If we are not Filing the spouse return still need the following information
2a1. Spouse Name
2a2. Spouse SIN
2a3. Spouse Date of Birth
2a4. Spouse NET Income
3. Any Dependents (If any, we need all info )
3a. Dependent Name
3b. Dependent Date of Birth
3c. Dependent relationship to taxpayer
3d. Dependent Net Income (If any)
4. Do you own property outside of Canada over $100,000 in value?
5. Did you dispose of a property for which you are claiming principal residence?
6. Do you have any rental properties or investments?
7. Previous Year’s Tax Return
8. All Canada Revenue Agency correspondence
9. Notice of Assessment / Reassessment
10. Sale or Deemed Sale of Stocks, Bonds or Real Estate
11. Are You a Sole Proprietor? Claim Business, Farm or Fishing Income and Expenses
11a) Profit and Loss (aka Income Statement)
Format: (Note: the following numbers should not include GST)
Annual Revenues: $0,000.00
(Separated by Category of Expense)
Bank Service Charges
Material and Supplies
Regarding Business GST
11b) Would you like for SBTA to file your GST? ($150 + GST)
11c) If yes, provide GST Summary Report(s)
Regarding Business Use of Home Office
11d) Provided you don't have an office outside of your home, you are allowed to pay yourself for the use of an office inside your home as a reimbursed expense - tax free!
11e) Your home office should have office furniture and equipment to qualify... NOT a dining room table, kitchen table, bed, etc.
11f) Calculate what percentage of your home is being used for business by measuring the square footage of your home office and dividing the square footage of your home. So for example, if your home office is 360 square feet and your home is 1,800 square feet: 360 divided by 1,800 = .20 or 20%. Therefore you can expense 20% of the following home expenses...
11g) Mortgage Interest if you own your home and have a mortgage or rent if you don't own your home
11h) Utilities: oil, gas and electricity
11j) Cleaning Supplies
11k) Property Taxes if you own your own home
11l) Maintenance and Repairs to your home
11m) Maintenance and repairs to your home office can be calculated at 100%. For example, if you paint only your office, you can claim 100% of the paint and painter.
12. Automobile / Travel Log Expenses
13. All T4 slips (Employment income)
14. Employment insurance benefits (T4E)
15. Interest, dividends, mutual funds (T3, T5)
16. Tuition / education receipts (T2202A)
17. Universal Child Care Benefit (RC62)
18. Old Age Security and CPP benefits (T4A-OAS,T4AP)
19. Other pensions and annuities(T4A)
20. Social assistance payments (T5007)
21. Workers’ compensation benefits (T5007)
22. Disability Tax Credit Certificate
23. Volunteer Firefighters certification
24. Northern resident’s deductions
25. Sale or deemed sale of stocks, bonds or real estate
26. Rental income and expense records
27. Declaration of Conditions of Employment (T2200)
28. RRSP contribution slip
29. Tax-Free Savings Account deposits
30. Support for a child, spouse or common law partner
31. Professional or union dues
32. Medical expenses
33. Transit pass receipts
34. Charitable donations
35. Political contributions
36. Child care expenses
37. Adoption expenses
38. Children’s arts and sports programs
39. Moving Expenses
40. Interest paid on student loans
41. Carrying charges and interest expenses
42. Exams for professional certification