2024 Tax Return Checklist - Canada
Getting ready for tax season can feel overwhelming, but with the right checklist, it’s a breeze. Here’s a simple guide to help you gather everything you need:
1. Income Slips (Proof of Earnings)
These slips tell the CRA how much money you earned and from where. Collect the ones that apply to you:
Employment Income: T4 slips
Other Income: Employment Insurance (T4E), Old Age Security (T4A-OAS), or Canada Pension Plan (T4AP)
Investments: Interest, dividends, or mutual funds (T3, T5, T5008)
Education: Tuition and Enrollment Certificate (T2202)
Pensions and Assistance: T4A, T5007, or RC210 (Advance Canada Workers Benefit)
First Home Savings Account: T4FHSA
Plus any other income slips you receive.
2. Important Documents
These items provide context for your taxes or confirm eligibility for credits:
Last year’s Notice of Assessment (NOA) or Reassessment
CRA Correspondence you’ve received
Property Sales: Details of any home, stock, or bond sales
Receipts for northern resident deductions, rental income/expenses, or business expenses
Certificates for tax credits like the Disability Tax Credit (DTC) or T2200 (Declaration of Conditions of Employment).
3. Receipts (Tax Deductions & Credits)
Receipts help you claim deductions or credits, so don’t skip these!
RRSP contributions
Child/spouse support payments
Professional dues or union fees
Work-related costs: Tradespeople tools, teacher supplies, home office expenses
Big purchases: Medical expenses, home renovations (for seniors or disabled), multigenerational home upgrades
Charitable donations or political contributions
Education costs: Exams for certification or student loan interest
Childcare, adoption, or moving expenses
Subscriptions to digital news.
4. Special Situations
Make sure to include documents for:
Volunteer Credits: Firefighter or search and rescue volunteer certifications
Employment Conditions: T2200 or written certifications for eligible educators
Labour Mobility Deduction for tradespeople.
Pro Tips for Staying Organized
Use a folder system to separate income slips, receipts, and important documents.
Check your CRA account for any documents already available online.
Mark your calendar for the tax filing deadline to avoid penalties!
Rather have someone else handle everything for you, this year? Trust our team of experienced tax accountants to prepare and EFILE your tax return, so you can get the maximum credits, with the minimum hassle. We’ll collect all of your slips and other details from the CRA, so you can relax this tax season.
This blog post is intended to provide general information only and should not be construed as tax advice or opinions. Always consult a qualified accountant before making any decisions regarding your tax situation.
