Prism Accounting & Tax Services Inc.

 

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Check list for personal tax 2010


INCOME:

·        Employment income and commission –T4

·        Employment insurance benefits – T4E

·        Workers’ compensation benefits/Social Assistance – T5007

·        Interest and dividends – T3/T5

·        Old age security pension – T4OAS

·        CPP benefits / Disability benefits - T4AP

·        Other pension or superannuation

·        Other pensions and annuities – T4A

·        Elected split-pension amount (T1032)

·        Taxable amount of dividends (eligible and other than eligible) from taxable Canadian Corporations

·        RRSP income or withdrawals T4RSP/T4RIF

·        Sales or deemed sale of stocks, bonds, or real estate

·        Spousal support received

·        Other income (Specify)

·        Business, Rental, Farm or Professional income /expenses (Only Self-employed)

·        Registered disability savings plan income- T4A

·        Statement on Partnership Income/Loss -T5013/T5013A

·        Universal child care benefits received – RC62

DEDUCTIONS:

·        RRSP contributions receipts

·        Union or professional receipts

·        Universal child care benefits repayment

·        Child care expenses ( receipts, name and address of daycare)

·        Disability supports payments

·        Moving expenses (Moved 40 km closer to work or school)

·        Investment carrying charges and interest expenses

§  Loan interest for investment

§  Safety deposits box charges

§  Accounting fee

§  Management or Safe Custody fees

§  Investment counsel fees

·        Spousal support paid

·        Exploration and development expenses (T1229)

·        Northern resident’s deductions (T2222)

 

CREDITS

·        Public transit amount (you, your spouse, dependents children under 19)

·        Home buyers’ amount ( New home purchase)

·        Children fitness amount (Max $500 for each child under 16 years of age or under 18 years of age if eligible for the disability amount)

·        Adoption expenses

·        Caregiver amount

·        Disability amount (for self) - T2201 required

·        Disability amount transferred from a dependent- T2201 required

·        Interest paid on student loans

·        Tuition, education, and textbook amounts– T2202/T2202A

·        Tuition, education, and textbook amounts from a child

·        Medical expenses for self, spouse or common-law partner and dependent children born in 1992 or later

·        Allowable amount medical expenses for other dependents

·        Charitable donations

·        Political contributions

·        Overseas employment tax credits (T626)

·        Federal foreign tax credits (T2209)

 OTHERS

·        Last year T1 Notice of Assessment

·        To claim any income or deductions, receipts are required

·        Income taxes paid in installments

 

 

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