Forms and Schedules
Please note that we are not necessarily intending you to complete each document. These forms and schedules are only intended to provide a comprehensive list and overview of what may be included in your tax return. Please disregard what you feel may not be relevant to your personal tax situation.
- Engagement Letter (mandatory)
- Foreign Reporting Checklist (mandatory)
- Personal Tax Organizer (mandatory)
- Self-Employed Business Activity Checklist
- Commission / Employment Expenses Checklist
- Rental Activity Checklist
- One-Time Credit Card Payment Authorization Form
Responsibility for Filing
We appreciate the opportunity to work with you and advise you on income tax matters, including the preparation of your tax return. Legislation allows the Canada Revenue Agency (“CRA”) to impose penalties upon you as the taxpayer, and upon us as a tax return preparer, for failure to observe due care in reporting on your income tax returns.
In order to ensure an understanding of our mutual responsibilities, we ask all clients for whom we prepare tax returns to confirm our arrangements by signing the enclosed engagement letter and returning it with your tax information. Please ensure your spouse and children sign as well if we will be preparing their returns.
Please remember that Canadian taxpayers who hold specified foreign property (income generating) with a cost amount of more than $100,000 in total at any time in the tax year must disclose this to CRA. Please ensure you review our Engagement Letter and Foreign Reporting Checklist.
It’s our responsibility to prepare your tax return accurately according to the law with the information that you have provided. It is your responsibility to provide us with all the information required to prepare complete and accurate returns. You should retain all the documents, receipts, cancelled cheques and other data that form the basis of your income and deductions as we will not be retaining them. These may be necessary to prove the accuracy and completeness of the return to the CRA. You have the final responsibility for the income tax return and, therefore, you need to review it carefully and notify us of any issues needing to be addressed.
Your 2020 tax return (other than for self-employed) must be filed by April 30, 2021. However, you must have your 2020 tax information to our office by April 1, 2021 to ensure it is filed on time. We are required to file your 2020 personal return electronically.
Self-employed individuals have until June 15, 2021 to file their tax returns; however, the CRA will impose interest on any unpaid tax from April 30, 2021. Therefore, we recommend you have your return prepared before April 30, 2021 so that any liability can be paid as required in order to minimize interest charges.
Please review your 2019 tax return to determine the sources of income and expenses that you reported. This will be a good indication of what information you should be accumulating for your 2020 tax return. Also, consider any new sources of income or deductions you had in 2020.
We have included a Personal Tax Organizer to help jog your memory. We have also included a Self-Employed Business Activity Checklist, Rental Activity Checklist, Commission/Employment Expenses Checklist and Foreign Reporting Checklist should you have any related income or expenses to declare.
Please forward your information to our office as soon as possible. If you need to discuss any specific matters, please call to discuss or to arrange an appointment.
We are utilizing a portal-based system to deliver personal tax returns. The portal presents a convenient web application for reliable and secure file exchange and storage of confidential documents. You can securely upload your tax information and when we complete your tax return, you can securely download your tax documents. Please contact us if you did not sign up for a portal last year so we can have this set up for you this year.
Once we have completed your tax returns we will email you Form T183 – Authorization to E-file. We are required by CRA to have the form signed and on file before electronically filing your return. Please ensure you indicate your confidential e-mail address on the personal tax organizer. We will e-mail these forms to you unless you indicate otherwise. Please review, sign, and return the form as soon as possible so we may electronically file your return.
In order for us to obtain information from the CRA we are required to have Form T1013 – Authorizing or Cancelling a Representative filed with the CRA. If we do not already have one on file for you, we will forward one to be signed and returned.
It is very important to make the required quarterly installments to minimize installment interest and/or penalties. If you are required to remit quarterly income tax installments, your first payment for the 2021 calendar year is due by March 15, 2021.
Payment for preparation of your personal tax return is payable upon receipt of your return.
You can make your payment by personal cheque, cash, debit (in office only), Visa or MasterCard.
Tax returns will not be E-filed or released until payment is received in full.
If you have any questions regarding the filing of your personal income tax return, please do not hesitate to contact us.