2006 Personal Tax Checklist
To assist you this2006 tax season I am enclosing 4 checklists that will help save you
time and money.
1. INCOME
Income (Total Income on Line 150)
Documentation
Salaries, Commissions, Other Employment
Income including: Tips from all sources,
T4, T4A, Tips and Gratuities Daily Log, GST
GST rebate from previous year, Royalties Rebate, T5 Royalties in Box 17
from your own work and/or an invention
Pension and Annuity Income from all
sources including CPP, OAS, RRIF's and
foreign pensions
T4A(OAS), T4A(P), T4RIF, T3, US Social
Security, Foreign Pension statements, deposit
information and foreign exchange rates, Status of
pensions, exempt or not exempt
Employment Insurance and other benefits
T4E, Statements of repayment of benefit
Taxable amount of Dividends from taxable
T5, T3, Schedule 4
Canadian corporations
Interest from all sources including Canada
T5 , T3, T5008, Broker and Mutual Fund
Savings Bonds, Strip Bonds, Treasury Bills,
Statements, Bond Descriptions, Schedule 4
Mortgages held and Investment income
Net Partnership Income, limited or nonactive partners
T5013, Resource Form, Certified Film &
Production reports
Rental Income or Loss
Tenant information, rents received, receipts for
expenses, bank statements, debt information and
interest, Calculation of cumulative profit (REOP)
for ITA S. 3.1, Purchase documentation for Capital
cost, UCC, Asset classes for each property, T776
for each property
Taxable Capital Gains or Losses for all
capital, personal or listed property
Broker statements, Purchase/Sale agreements,
Closing statements, Option agreements, Mutual
fund statements, Closing costs, Schedule 3
Support payments received, Child Support
received
Separation agreement, Proof of receipt of payment,
Payee Name, Address and SIN #, T1158
Registration of Family Support Payments
Universal child care benefit
RC62, taxable to the lower-income spouse.
RRSP income
T4RSP, RRSP statements
Line 130 Other Income
Foreign income including deposit and foreign
exchange information, T3, Box 22, 26 (net of
31,35,46,47), Eligible Death benefits on T3 or
T4A, Pension Income on T3 Box 46, Scholarships,
Lump sums etc. See Schedule for Line 130
Self Employment Income or Loss from
business, profession, commission, farming
or fishing
Sales invoices, purchase documentation, bank
statements, receivables, payables, accruals, asset
purchases, UCC classes, Forms T2124, T2032,
T2042, T2121, Contract Payment Reporting
T5018, Reserve calculations, Calculation of
cumulative profit (REOP) for ITA S. 3.1
Worker's Compensation Benefits
T5007 Box 10
Social Assistance Payments
T5007 Box 11
Net Federal Supplements
T4A(OAS) Box 21
2. DEDUCTIONS
Deductions (to arrive at Taxable Income on
Line 260)
Documentation
Registered Pension Plan (RPP)
T4 Box 20 or T4A Box 32
RRSP
Schedule 7, receipts, broker statements, mutual
fund statements, CRA Statements for Home
Buyers, Life Long Learning
Saskatchewan Pension Plan
Statement, receipts
Annual Union, Professional or like Dues,
Professional Liability Insurance
T4 Box 44, slips and receipts
Child Care Expenses
T778, slips, receipts, Payee name, address, SIN
# or Business Number, doctor's letter
supporting infirmity, calendar or day timer to
support claim in Part C
Disability Supports
Invoices, proof of payment, T4 Summary, T4,
Timesheets, Payee name, address, SIN # or
BN# for attendant, proof of qualification for
Disability T2201, proof of expenditure for
work or school
Business Investment Loss
Documentation of disposition of shares or
loans to a qualified small business corporation,
ABIL form, Receipts, contracts
Moving Expenses
T1M, receipts, logs, addresses before and after,
dates, income applicable
Support Payments made
Receipts, proof of payment, separation
agreement, T1158 Registration of Family
Support Payments
Carrying Charges and Interest Expense
Schedule 4, Receipts, bank statements, proof of
payment, loan or mortgage statements,
Recommend review of IT 533 Interest
deduction policy new October 31, 2003,
Calculation of cumulative profit (REOP) for
ITA S. 3.1 effective January 1, 2005, source by
source
CPP or QPP contributions on self-employment
Schedule 8
or other earnings
Exploration and Development Expenses
T1229, Resource Summary
Other Employment Expenses
T777, employer-signed T2200, proof of
payment, mileage log, gas, insurance, repairs,
air care, vehicle lease or purchase, interest,
loan documentation, vehicle description,
GST370 signed with Employer's Business
Number, Home office costs as applicable,
Legal expenses to collect salary, repayment of
WCB, etc. see form
Clergy Residence Deduction
Employer completed certification on CRA
form
Other Deductions
See details Line 232
Social Benefits Repayment
See line 250 in the guide
Canadian Forces Personnel and Police
T4 Box 43
Employee Home Relocation Loan
T4 Box 37
Security Options
See details Line 249
Other Payments
If income reported on line 147 see line 250 in
the guide
Losses of other years, capital gains deduction
Documents of past years’ capital gains/ losses
Northern Residents
T2222
Additional Deductions
See details Line 256
3. PERSONAL TAX CREDITS
Personal Tax Credits
Documentation
Spousal
Spouses tax return
Eligible
Schedule 5 Details of dependant, net income,
documentation certifying infirmity if applicable
Infirm 18 or older
Schedule 5 Details of dependant, net income,
documentation certifying infirmity if applicable
Caregiver
Schedule 5 Details of dependant, net income,
documentation certifying infirmity if applicable
Disability
T2201
Disability Supplement
Child care or attendant care expenses claimed for
dependant by anyone
Disability Transferred from a dependant T2201, Schedule 5 Details of dependant, net income
Adoption expenses
Receipts, proof of payment and documents to
adoption, government and travel agencies.
Public transit passes
From T4 slip and/or proof of payment along with the
passes from July 1, 2006.
Interest on Students Loans
Statement from financial institution, proof of payment,
amounts carried forward from previous 5 years
Tuition and Education
T2202A, T2202, TL11A,B,C,D, Schedule 11
T2202A, T2202, TL11A,B,C,D, Schedule 11, Taxable
Tuition and Education Transferred from
income, Personal tax credits, SIN #, name, birth date
a child or grandchild
of child or grandchild
Amounts Transferred from spouse or
partner
Schedule 2 and spouses tax return
Receipts, payroll stub or letter from payroll for
premiums on extended health and dental insurance,
Medical and prescribed devices for self, certification of disability, infirmity, Payee name,
spouse and all dependents
address, SIN# or BN#, breakdown of attendant care
for retirement homes etc. See S. 118.2(2) and
Regulation 5700 of the ITA for further details
Medical Notch Provision, allowable
amount of medical expenses for
dependants 18 and over
Line 236 for dependents 18 and over
Donations and Gifts, political donations Receipts, proof of payment
4. OTHER USEFUL INFORMATION
Other Useful Information
Documentation
Tax Paid by instalments, balance owed Proof of payment, statements from CRA
Employee and Partner GST/HST
Rebate
GST 370 signed by Employer (with BN#)
Provincial Tax Credits
Slips, receipts, proof of payment of rent or property
tax, statements of account
Work Visa information, Number of days in the USA
U.S. Non Resident Alien Tax Return if
per year, plus previous 2 years. Please contact a
you worked in the U.S. and have U.S.
professional who prepares US tax returns for more
Source income
information
Assessments, re-assessments,
All documents and statements received from CRA
correspondence, Child Tax Benefits,
GST credits
Proof of Ownership and Liability
including all Foreign Property and
Investments
List of all owned or leased assets, all liabilities and
relationship to assets, investments, business
operations, Calculation of cumulative profit (REOP)
for ITA S. 3.1
Citizenship and residence during and at
Proof in the form of utilities bills, property tax, etc.
the end of the year
Low income and other benefit plans
including provincial medical premium
assistance, Veterans Affairs, property
tax grants and deferral for disability.
Gas tax refunds
Compliment of Angela S. Chu, CGA
Last Edited: December 2006