Paula Ideias, B.A., LL.B
ISBN: 978-0-7798-5149-2
No. of Pages: 374
Binding: Coil
Publication 2013-01-30
Table of Contents
www.carswell.com
Personal Tax Return Guide, 2012 Taxation Year
INTRODUCTION
How to Use this Guide
New for 2010
Further Reading
TAB 1 – PERSONAL TAX BASICS, FILING & PAYING TAXES, ASSESSMENTS, OBJECTIONS &
APPEALS
What’s New for 2010
T1 Return: Some Basics
T1 Jacket: Refund or Balance Owing
Line 437
Total Income Tax Deducted
Line 452
Refundable Medical Expense Supplement
Line 453
Working Income Tax Benefit (WITB)
Line 457
Employee and Partner GST/HST Rebate
Line 476
Tax Paid by Instalments
Filing Your T1 Return
Information Returns
Paying Taxes
Interest and Penalties
Assessments, Objections and Appeals
Voluntary Disclosures Program
Taxpayer Relief Provisions
TAB 2 – CALCULATING TOTAL INCOME (T1 lines 101-119, 125, 128-130, 144-146)
Line 101, 104 Employment income, other employment income
Line 113
Old Age Security pension
Line 114
CPP or QPP benefits
Line 115
Other pensions or superannuation
Line 116
Elected split-pension amount
Line 117
Universal Child Care Benefit
Line 119
Employment Insurance and other benefits
Line 125
Registered disability savings plan income
Line 128
Support payments received
Line 129
RRSP income
Line 130
Other income
Line 144
Workers’ compensation benefits
Line 145
Social assistance payments
Line 146
Net federal supplements
TAB 3 – DIVIDEND, INTEREST & OTHER INVESTMENT INCOME (T1 lines 120, 121, 122, 126 and
Schedule 4, Statement of Investment Income)
Line 120
Taxable amount of dividends from taxable Canadian corporations
Line 121
Interest and other investment income
Line 122
Net partnership income: limited or non-active partners only
Line 126
Rental income
TAB 4 – CAPITAL GAINS INCOME (T1 line 127 and Schedule 3, Capital Gains or Losses)
Line 127
Capital gains and losses
Determining capital gains and losses
$750,000 capital gains exemption
Principal residence exemption
Paula Ideias, B.A., LL.B
ISBN: 978-0-7798-5149-2
No. of Pages: 374
Binding: Coil
Publication 2013-01-30
Table of Contents
www.carswell.com
Personal Tax Return Guide, 2012 Taxation Year
Personal use property
Special Rules Relating to Capital Gains and Losses
Completing Schedule 3
TAB 5 – SELF-EMPLOYMENT INCOME (T1 lines 135-143)
Line 135
Business income
Line 137
Professional income
Lines 141, 143 Farming and Fishing Income
TAB 6 – NET INCOME (T1 lines 206 – 236)
Line 206
Pension adjustment
Line 207
Registered pension plan deduction
Line 208
RRSP deduction
Line 209
Saskatchewan Pension Plan deduction
Line 210
Deduction for elected split-pension amount
Line 212
Annual union, professional, or like dues
Line 213
Universal Child Care Benefit repayment
Line 214
Child care expenses
Line 215
Disability supports deduction
Line 217
Business investment loss
Line 219
Moving expenses
Line 220
Support payments made
Line 221
Carrying charges and interest expenses
Line 222
Deduction for CPP or QPP contributions on self-employment and other earnings
Line 223
Deduction for provincial parental insurance plan premiums on self-employment income
Line 224
Exploration and development expenses
Line 229
Other employment expenses
Line 231
Clergy residence deduction
Line 232
Other deductions
Line 235
Social benefits repayment
TAB 7 – TAXABLE INCOME (T1 lines 244 – 256)
Line 244
Canadian Forces personnel and police deduction
Line 248
Employee home relocation loan deduction
Line 249
Security options deductions
Line 250
Other payments deduction
Line 251
Limited partnership losses of other years
Line 252
Non-capital losses of other years
Line 253
Net capital losses of other years
Line 254
Capital gains deduction
Line 255
Northern residents deduction
Line 256
Additional deductions
TAB 8 – FEDERAL TAX AND CREDITS (Schedule 1, Federal Tax, lines 300 – 427)
Line 300
Basic personal amount
Line 301
Age amount
Line 303
Spouse or common-law partner amount
Line 305
Amount for an eligible dependant
Line 306
Amount for infirm dependants age 18 or older
Line 308
CPP or QPP contributions through employment
Line 310
CPP or QPP contributions on self-employment and other earnings
Line 312
Employment insurance premiums
Paula Ideias, B.A., LL.B
ISBN: 978-0-7798-5149-2
No. of Pages: 374
Binding: Coil
Publication 2013-01-30
Table of Contents
www.carswell.com
Personal Tax Return Guide, 2012 Taxation Year
Line 313
Line 314
Line 315
Line 316
Line 318
Line 319
Line 323
Line 324
Line 326
Line 330
Line 331
Line 349
Line 363
Line 364
Line 365
Line 367
Line 369
Line 405
Line 409, 410
Line 412
Line 413, 414
Line 415
Line 424
Line 425
Line 426
Line 427
Adoption expenses
Pension income amount
Caregiver amount
Disability amount
Disability amount transferred from a dependant
Interest paid on your student loans
Tuition, education, and textbook amounts
Tuition, education, and textbook amounts transferred from a child
Amounts transferred from your spouse or common-law partner
Medical expenses for self, spouse or common-law partner, and your dependent children
born in 1992 or later
Allowable amount of medical expenses for other dependants
Donations and gifts
Canada employment amount
Public transit amount
Children’s fitness amount
Amount for children born in 1992 or later
Home buyers’ amount
Federal foreign tax credit
Federal political contribution tax credit
Investment tax credit
Labour-sponsored funds tax credit
Working Income Tax Benefit advance payments
Federal tax on split income
Federal dividend tax credit
Overseas employment tax credit
Minimum tax carryover
TAB 9 – PROVINICAL AND TERRITORIAL TAXES AND CREDITS (T1 lines 428, 438, 440, 479)
Line 428
Provincial or Territorial Tax
Line 438
Tax Transfer for Residents of Quebec
Line 440
Refundable Quebec Abatement
Line 479
Provincial or Territorial Credits
Provincial and Territorial Quick Reference:
Alberta
British Columbia
Manitoba
New Brunswick
Newfoundland and Labrador
Northwest Territories
Nova Scotia
Nunavut
Ontario
Prince Edward Island
Saskatchewan
Yukon
Quebec
TAB 10 – CANADIAN TAXATION OF NON-RESIDENTS AND DEEMED RESIDENTS
Determining Canadian residency
Taxation of Nonresidents, Deemed Residents and Part-Year Residents
Filing Requirements for Nonresidents and Deemed Residents
Paula Ideias, B.A., LL.B
ISBN: 978-0-7798-5149-2
No. of Pages: 374
Binding: Coil
Publication 2013-01-30
Table of Contents
www.carswell.com
Personal Tax Return Guide, 2012 Taxation Year
Elective Returns for Nonresidents
Emigrating from Canada
TAB 11 –TAX PLANNING, REGISTERED PLANS AND U.S. TAX CONSIDERATIONS
Income Splitting and the Attribution Rules
Owner-Manager Remuneration Planning
Registered Accounts (TFSAs, RESPs, RDSPs)
U.S. Tax Considerations for Canadians with U.S. Connections
APPENDICES
Appendix A
Appendix B
Appendix C
Appendix D
Appendix E
Appendix F
Appendix G
INDEX
Key CRA Personal Tax Guides, Pamphlets, Forms, Schedules and Worksheets
Important CRA Mailing Addresses, Website Addresses and Telephone Numbers
Key Personal Tax Definitions
Medical Expense Quick Reference Table
E-1 Tax Planner Guide: The Principal Residence Exemption
E-2 Tax Planner Guide: Tax on Split Income
E-3 Tax Planner Guide: Post-Mortem Tax Planning and Tax Elections at Death
F-1 Canadian Personal Tax Compliance Calendar
F-2 U.S. Personal Tax Compliance Calendar
Personal Tax Reference Tables
G-1 Federal and Provincial/Territorial Income Tax Rates, Brackets and Surtaxes for
2010 and 2011 (I-1)
G-2 Federal and Provincial/Territorial Non-Refundable Tax Credit Rates and Amounts
for 2010 (I-2)
G-3 2011 Federal Indexation Adjustment for Personal Income Tax and Benefit Amounts
G-4 Combined Top Marginal Tax Rates for Individuals – 2010 (I-4)
G-5 Eligible Dividend Tax Credit Rates and Amount of Dividends That May be Received
without Incurring Tax in 2010 (I-5)
G-6 Non-Eligible Dividend Tax Credit Rates and Amount of Dividends That May be
Received without Incurring Tax in 2010 (I-6)
G-7 Retirement Plan Contribution Limits (I-10)
G-8 Automobiles – Deductions and Benefits (I-11)