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2023 Canada Tax Checklist: Essential Documents You Need to File Your Taxes
Mark Virgil Lofranco • 9 December 2024
Picture this: tax season is approaching, and you’re frantically trying to gather the documents you need, worried you might miss something important. Sound familiar? That’s why having a tax checklist is essential. It helps you stay organized and ensures you have everything you need to file smoothly.
In this article, we’ll cover all the documents you need to have handy when filing your taxes!
What documents do I need to file my taxes?
When filing your taxes online, you’ll need certain forms and supporting documents to complete your return.
Personal Information
To get started, ensure you have:
- Social Insurance Numbers for you, your spouse, and any dependents
- Dates of birth for family members
- Net income amounts for your spouse and dependents (for claiming credits such as the Canada Caregiver Amount)
- Details of installment payments made to the CRA
- Notice of Assessments from last year
- Your NETFILE access code
Income Slips
Depending on your income, you may need the following forms:
Employment:
- T4 Statement of Remuneration Paid
- RL-1 (for Quebec residents)
Self-Employment:
- T2125 or T4002 for business or professional income
Savings & Investments:
- T5 Statement of Investment Income
- T3 Statement of Trust Income Allocations
Retirement:
- T4A (Pension or retirement income)
- T4A(P) Canada Pension Plan benefits
- T4A(OAS) Old Age Security
Social Benefits & Employment Insurance:
- T4E Statement of Employment Insurance
- T5007 Statement of Benefits (for Workers Compensation or Social Assistance)
Expense Receipts for Credits and Deductions
The CRA offers a variety of credits and deductions. Make sure you keep relevant receipts, bank records, and documents to prove your expenses.
Common receipts include:
- Work-Related Expenses: T2200 for employment expenses, home office receipts, and union dues.
- Family Expenses: Childcare, adoption, or support payments.
- Homeowners & Landlords: Home accessibility expenses, moving expenses.
- Student Expenses: Tuition slips, student loan interest.
- Other Common Expenses: Charitable donations, medical expenses, political contributions.
Does CRA Need Original Receipts?
When filing, the CRA may request receipts and supporting documents later, so hold on to the originals.
Other Documents to Keep Handy
You’ll also need some documents from previous years, such as:
- Last year’s Notice of Assessment
- Tuition and RRSP carryforward amounts
- Loss carryforward amounts
- Other CRA correspondence
Next Steps and More Resources
A checklist keeps you organized and ensures you don’t miss out on potential deductions.
At TurboTax, we offer tools and resources like:
- An income tax calculator to estimate your refund.
- An RRSP calculator to see how contributions affect your taxes.
- A community where you can ask questions and get expert help.
Whether you’re filing independently or need expert support, TurboTax is here to make tax season as easy as possible.
Key Takeaways:
- Keep track of all expenses during the year, including receipts and invoices (especially if you’re self-employed).
- Sign up for a CRA My Account to make the filing process more efficient.
- The CRA requires specific forms and receipts depending on your circumstances and income type.
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