A simple checklist to make filing your taxes easier
You have to file a tax return if you either owe tax, or you're owed a refund for overpaid taxes, Canada Pension Plan, or Employment Insurance. So use this checklist to help make filing your taxes as efficient and convenient as possible.
Get organized at tax time
To make sure nothing falls through the cracks, organize your paperwork with an accordion file folder big enough to hold the following documents.
Tax information slips
- T4 – employment income
- T4A – RESP payments, pension income, lump-sum payments, self-employed commissions or annuity income. This slip will also report any benefits you received from the CRA due to the COVID-19 pandemic, like the Canada Emergency Response Benefit (CERB).
- T4E – CERB if applied with Service Canada or any Employment Insurance (EI) benefits.
- RSP/RRSP contribution receipt
- T3 – income from a trust
- T5 – investment income, like dividends or interest
- T5008 – securities transactions
- T5013 – income from a limited partnership
- T2202A – post-secondary tuition and enrolment certificate
- Charitable donations
- Medical expenses
- Childcare expenses
- Annual union or professional dues
- Any other receipts that are relevant to your tax situation
Records related to
- Investments: Investment income and expenses are reported on Schedule 4. Any capital property, like stocks, that you sold at a profit (loss) would be reported as a capital gain (or loss) on Schedule 3.
- Rental properties: Rental income needs to be reported by completing Form T776.
- Business income and expenses: If you're a freelancer or a sole proprietor running an unincorporated business, you need to calculate the net income from your business and report it on Form T2125.
Note important deadlines
- For individuals (other than trusts), the deadline for filing your return is normally April 30, but since it falls on a Saturday, it's the next business day, May 2, 2022. All taxes owing are also due on this date.
- If you're self-employed, the filing deadline is June 15, 2022, however, all taxes owing must be paid by May 2, 2022.
Manage your tax information online
- If you haven't already done so, register with the Canada Revenue Agency (CRA)'s My Account in order to check your RSP/RRSP limit, register for direct deposit, view the status of your return and much more.
Prepare your return
- Use NETFILE-certified tax software to guide you through the various forms and schedules on the tax return.
- Let the information held by the CRA populate into your tax return, and review for accuracy.
- Don't feel like you have to complete your tax return all in one sitting. Come back and fill in outstanding information as you receive it.
- Don't file until your return is complete, otherwise you may have to file an adjustment.
- If your tax situation is complicated, consider seeking the advice of a tax professional, like a CPA.
File your return
- File online with the CRA using NETFILE, which is fast, easy and secure.
- Pay any tax owing or wait for your refund!