Fast & Affordable Accounting, Bookkeeping and Tax Services

Personal Tax Return Checklist

Here at Sapphire Accounting we are committed to providing you with the largest tax refunds you deserve and finding every tax deduction you are eligible for. To make sure you don’t miss something, and to help you get every deduction and credit you can, we’ve prepared this handy checklist.

Essentials and General Items

  • Current contact information, including SIN numbers, of the entire family
  • Last year's tax return
  • Last year's spousal return
  • Last year's notice of assessments for the entire family
  • Key life events in recent years - marriage, child, new home, etc
  • Child care expenses
  • Investment income T5 slips
  • Medical, dental and other private health care expenses
  • T2202A for tuition and education amounts
  • Public transit passes
  • Details on any matrimonial or child support payments, if applicable
  • Direct Deposit information, if changed from last year
  • TFSA statements and contribution receipts
  • RRSP statements and contribution receipts
  • Confirmation on foreign property holdings
  • Information on any property, stocks or other assets bought and sold
  • T4E for income from Employment insurance
  • Charitable donation receipts
  • Interest paid on student loans
  • Political contributions

Employees

  • T4s, T4As, T4RSPs, T4RIFs and other tax slips
  • T2200 for Home Office eligibility signed by employer
  • Home Office expenses: utilities, mortgage, stationary, other purchases, etc
  • If eligible for motor expenses, details on kms driven for work
  • Professional dues, insurance, union dues (not reimbursed by employer)
  • Moving expenses (not reimbursed by employer)
  • Tools purchases documentation for trades people
  • If commissioned salesperson, documentation for advertising, promotion, meals & entertainment and other expenses
  • New motor vehicle purchase details and other motor vehicle expenses
  • Legal expenses related to employment or child support amounts

Small Business Owners & Sole Proprietors

  • Software backup of bookkeeping records
  • Manual records of sales and expenses if books are not kept in a software
  • Partnership agreement, if applicable, along with profit sharing perentage
  • Vehicle expenses used in business - vehicle cost, mileage, maintenance, etc
  • Key contracts and agreements summary or soft copy of conracts
  • Details on capital assets purchased and sold during the year
  • Home office expenses, similar to employment section above
  • Inventory count records - last year and end of current year, if applicable

Rental Property Owners

  • List of units owned with address and ownership percentage
  • Expenses on each unit, categorized by expense type - such as, mortgage interest, real estate agent fees, utilities, cleaning fees, management fees, property tax, office expenses, etc
  • Copies of all rental agreements
  • Rental income details for each unit
  • Details on capital additions (greater than $500) categorized by unit

Save time and money with knowledgeable and experienced staff at Sapphire Accounting.