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Personal Tax Return

Personal Tax ReturnPersonal tax return is basically your report to the government of all of your income and some other financial details for a given year. While your return may show that you have to pay more tax, in Canada you may also be eligible for a tax rebate if you have credits for expenses like health care, child care, donations etc.

The sum of income tax that a person has to pay is based on the amount of taxable income gained during the previous calendar year and any tax credits that have been earned.

Income tax is collected by the CRA – Canada Customs and Revenue Agency - on behalf of the federal government, provinces and territories. Preparation and filing of a personal tax return (T1) must be completed annually and submitted to CRA no later than April 30th of the following year.

Any additional taxes owing must also be paid by April 30th or interest will be charged on the overdue amount. Even if you are unable to pay the taxes that you owe, you must still file your return by the April 30th deadline to avoid being charged a penalty.

Filing personal tax return could be confusing and exhausting while any mistakes done can result in an audit or at least some discussions with CRA.

Aboutaxes is a reliable tax service in South-Western Ontario, Canada. We prepare personal income tax returns in Canada for those who are permanently or temporarily employed, self-employed individuals, those who earn their income from renting out real estate, retirees, new immigrants, students... We serve all those who pay taxes in Canada.

Personal tax return preparation at Aboutaxes for 2015 tax year starts from as low as CAD $30.

It is crucial to keep a record of your income from all sources. If you work for someone else, they are obligated to send you a statement listing your income and any deductions that have been made for income taxes, employment insurance, Canada Pension Plan, etc. Use this information to fill out your tax return.

For your convenience below is the list of supporting documentation required to complete your personal income tax return.

Income / Expense

Tax Form Number /
Information Required

   
Employment income T 4
Unemployment income T 4E
RRSP receipts
   
Investments  
Dividends Income T5, T4PS, T5013
Interest Income T5, T3, T5013
Capital Gains/Losses T5, T4PS, T5013
Safety deposit box fees or other investment or interest expenses receipts
   
Students  
Interest paid on student loans receipts
Tuition expenses Form T2202A
   
Minor Children  
Please provide names, date of birth and SIN of children  
   
Universal Child Care Benefit ($100 per month per child) RC 62
Children fitness receipts
Child Care expenses (day care, private schools, baby sitter, summer camps) receipts; SIN of individual provided service
   
Retirees  
Old Age supplement income T 4A(OAS)
Canada Pension income T 4A(P)
Pensions T 4A
   
Other credits and deductions  
If you rent apartment amount of rent paid, address, name of land lord, # of months lived
If you own apartment amount of property tax paid, address, name of municipality, # of months lived
Medical expenses receipts
Union dues receipts
charitable donations receipts
Public transit passes amount spent
   
If you a first-time home buyer, who acquire a qualifying home after January 27, 2009 - let us know. There is a credit for you.
   
******** PRIOR YEAR TAX RETURN (NEW CLIENTS ONLY)  
******** NOTICE OF ASSESSMENT FOR THE PRIOR YEAR  
Employment expenses  
   
If you have Form T2200, Declaration of Conditions of Employment, signed by employer discuss with us deductible expenses