Sample Personal Tax Checklist
Version 1
Comments
This personal tax checklist is general in nature to assist practitioners in the
review of tax matters in an engagement. This personal checklist does not
replace knowledge, experience or continued reference and guidance provided by
The Income Tax Act and generally accepted publications such as CCH Preparing
Personal Tax Returns, interpretation bulletins, and attending professional
development courses.
This personal tax checklist is one item of an integral part of the entire client
information and working paper file. Other relevant income tax considerations
may be and are likely to be in other files, e.g. permanent file (knowledge of
client), tax file, etc.
Practitioners are encouraged to revise, amend, or expand this personal tax
checklist to suit their respective requirements.
Disclaimer
This sample checklist was prepared by the Alberta Institute of Chartered
Accountants Tax Task Force to provide guidance for members. It was not meant
to be a complete or comprehensive reference nor does it provide a substitute for
the members’ knowledge of the income tax legislation. Neither the Institute of
Chartered Accountants of Alberta nor any person involved in the preparation of
this sample checklist accept any contractual, tortious or other forms of liability for
its contents or for any consequences arising from its use.
JANUARY 2008
Sample Personal Tax Checklist
See Accompanying Disclaimer
Prepared
by
Reviewed
by
Client Name: _____________________________
Fiscal Year: ______________________________
AUTHORIZATION – Has an authorization been recently filed for the taxpayer. Consider filing
T1013 and/or RC59 annually.
Family Members
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A. GENERAL
1. Obtain last notice of assessment and any
notices of reassessment issued in the year.
2. Has there been a change of address?
3. Confirm installment payments for the year.
4. Obtain birth dates and names of
dependent children born in the year.
5. Obtain date of change in marital status if
applicable, including SIN, birthdate, etc, of
spouse.
6. For new clients obtain the following:
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Is the client a US citizen?
Multi-year data from CRA
Name, address, date of birth, social
insurance number
Marital status - spouse social insurance
number, birth date and name
List of dependants including birth dates
7. Foreign Reporting:
 Did the client own or hold foreign
property at any time in the year with a
total cost of more than $100,000 CDN?
(T1135)
 Is the client involved in a non-resident
trust or closely held non-resident
corporation?
 Any distributions from or indebtedness
to a non-resident trust (T1142)
 Any foreign affiliates? (T1134A)
 Any controlled foreign affiliates?
(T1134B)
 Any transfers or loans to a non-resident
trust (T1141)
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Sample Personal Tax Checklist
See Accompanying Disclaimer
Family Members
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8. Does the client wish to authorize CRA to
provide his name, address and date of birth
to Elections Canada to update his
information on the National register for
Electors?
9. Does the client have United States
citizenship, a green card, or spend
significant time in the United States?
10. Consider obtaining a complete tax history
from CRA.
B. INCOME
1. Obtain the following information slips if
applicable:
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T3 slips - Statement of Trust Income
T4 slips - Employment Income
T4A slips - Other Income
T4A (OAS) - Old Age Security Pension
T4A (P) - Canada Pension Plan
T4A - Other Pensions
T4E - Unemployment Insurance
benefits
T4RIF - Statement of Income out of a
Registered Retirement Income Fund
T5 - Dividends and Interest Income
Canada Savings Bond Withdrawal slips
T4RSP - RRSP Income
T5007 - Worker’s Compensation
Payments
RC62 – Universal Child Care Benefits
T4PS – Profit Sharing Plan allocations
2. For Partnership Income & Expenses obtain
the following:
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Copy of financial statements
Summary of drawings and cash
advances made during the year
T5013 Statement of Partnership
Income, if applicable
Expenses incurred during the year and
not reimbursed by the partnership
3. Obtain the following information regarding
the sale of real estate, bonds, stocks,
mutual funds, farm property or small
business corporation:
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Sample Personal Tax Checklist
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The date of purchase and the original
cost of property
Selling costs; i.e., commissions, legal
fees
Proceeds of sale
Adjusted cost base of property if
different from original cost (return of
capital, 1994 capital gains election)
Valuation day value if property was
purchased before January 1, 1971
T5008 - Statement of Securities
Transactions’
Reinvestments of annual income, loss
deductions and capital repayments
Obtain detailed schedules of income,
expenses, capital gains from
investment advisors
4. Obtain the information regarding revenue,
expenses, and any capital expenditure for
the year from the following sources:
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Rental income
Business income
Professional income
Commission income
Farming and Fishing income
Any GST considerations relating to the
above income
Reconcile income from related and
controlled entities for which no source
deductions are withheld, to the
corporation’s deduction.
5. Obtain the information regarding the
following other income if applicable:
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Alimony or separation allowance
income
Any other income from any source
world-wide
Any Home Buyer’s or Lifelong Learning
Plan withdrawals
6. Obtain information with respect to foreign
income including any tax slips summarizing
foreign income and foreign withholdings tax
thereon.
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Sample Personal Tax Checklist
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7. For any recapture in classes 2 to 12,
consider moving all these assets to class 1
using special election to defer recapture.
Consider replacement property rules for
recapture on sale of a business asset.
C. DEDUCTIONS
1. Obtain receipts for RRSP contributions.
2. Obtain receipts for Union/Professional dues.
3. For child care expenses obtain the
following:
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Name, address and SIN of daycare or
caregivers
Total amount paid to each daycare or
caregiver during the year (supported by
receipts)
4. Obtain details of Disability Support
Expenses for a disabled dependent.
5. For Allowable Business Investment Losses
obtain the following:
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Details of investment (for information
required, see Capital Gains Guide –
T4037)
Information regarding the bankruptcy or
insolvency of the corporation
6. For Moving Expenses (move more than 40
km) obtain the following:
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Reason for move (school, employment)
Travel expenses - auto, meals,
accommodation
Cost of movers
Legal documentation relating to the sale
of residence (including real estate
commissions)
Legal documentation relating to the
purchase of new residence
Have any expenses been reimbursed, if
so, has the reimbursement been
included on the T4
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Sample Personal Tax Checklist
See Accompanying Disclaimer
Family Members
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7. For Northern Residents obtain the following:
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Summary of Travel Expenses
Number of days resided in a dwelling
(self-contained domestic
establishment)?
Is any other person claiming a
deduction in respect of the same
dwelling?
8. For Employment Expenses obtain the
following:
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Signed form T2200
Auto expenses; office in the home
expenses
Meals and entertainment
9. For Office in the Home Expenses obtain the
following:
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property tax; mortgage interest;
insurance; utilities; rent; repairs and
maintenance (Note: some not available
as employment expenses)
Portion of home used for business
purposes; i.e., square footage of office
compared to total square footage of
home or number of rooms in residence
10. For Automotive Expenses obtain the
following:
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Any purchases or sales of automobiles
used for business purposes
Lease payments; loan; insurance;
interest on loans; repairs; fuel
expenses; registration; parking
Total kilometers driven during the year
Total business kilometers driven during
the year
11. For carrying charges and interest expenses
obtain the following:
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Interest paid in broker accounts
Safety deposit box fees
Accounting fees
Interest on loans for investment
purposes
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Sample Personal Tax Checklist
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12. For Transportation Employees obtain the
following:
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Signed TL2 - Meals and Lodging
Expenses
Number of days on road
13. Obtain information regarding any alimony or
separation allowance paid pursuant to a
signed court order or legal agreement
(including recipients name, address, SIN,
and copy of court order). Consider the nondeductibility of child support under post April
1997 orders and agreements. Review legal
expenses to collect alimony or allowances
for deductibility.
D. TAX CREDITS
1. Obtain the following if applicable:
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Disability Tax Credit Certificate
prepared by a physician
Tuition and education deduction
certificate, including providing
appropriate form to foreign universities
or colleges(if outside Canada need
forms TL11A and T2200A)
Gov. Student Loan interest receipts
Medical Expense receipts and travel
costs, if appropriate
Charitable Donation receipts
Political Donation receipts
Overseas Employment Tax Credit
information
Income of parent or parents (over 65)
living with the taxpayer
Foreign tax credit details
Receipts for public transit passes
Receipts for children’s fitness expenses
Receipts for adoption expenses
E. PREPARATION
1.
Compare current year’s income tax return to
prior year(s) to ensure reasonableness and
inclusion of all items.
2.
Is GST return to be prepared for client?
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