DEPENDANTS

Include the following if you have dependants:

- Any child care receipts

- Any child/spousal support amounts and

  whether they are deductible/taxable or not

  (It would be advisable to bring in a copy of

  a separation agreement if one exists.)

You may be eligible for the caregiver amount if you have dependants over 18 living with you who are disabled or infirm and depend on you financially. Likewise, you may be eligible for the caregiver amount if you have a parent over 65 years of age living with you. In this last instance, we need to know the parent’s net income in order to determine eligibility.

STUDENT

If you were a full-time or part-time student during the year at the post-secondary school level at a designated educational institution or in a qualifying educational program, you may benefit from special deduction amounts and credits.

If at a designated educational institution within Canada, please ensure to have Form T2202A Tuition, Education and Textbook Amounts Certificate from the institution along with your other tax documentation. Form T2202A documents tuition fees paid and months of attendance in the calendar year. This form is often available by logging in to your online student account with the institution.

We may also require information such as:

- Any unused tuition and education amounts

  carried forward from prior years

- Slips for any scholarships, fellowships, bursaries

  and/or study grants received

- Official receipts for interest paid on qualified

  student loans

- Up  to $5000 of unused tuition amount can to transferred to a spouse, parent or grandparent

INVESTMENTS

Do you have any investments?

If so, we may need information such as:

- Any slips issued by the financial institutions

  for the interest/dividends/capital gains

  earned

- Slips/documentation outlining capital

  gains/losses

- Both your original cost and the proceeds of

  disposition for any assets sold during the

  year for which you do not have a T slip -

  re: capital gains/losses

- Documentation for any investment counsel

  fees paid and/or interest paid to earn

  investment income

Please note that T3's and T5013's (partnership income) can be issued as late as the end of March.

Please ensure that you have all slips before coming to us for preparation of your yearly tax return (check last year's return to verify that you have all information pertinent to investments for the current tax filing year).

SELF-EMPLOYED

Are you self-employed?

We may need information such as:

Please refer to the Worksheet section of our website

RENTAL PROPERTIES

Do you have rental properties?

We may need information such as:

Please refer to the Worksheet section of our website

EMPLOYMENT EXPENSES

Do you have employment expenses?

We may need information such as:

Please refer to the Worksheet section of our website

If you are deducting employment expenses, your employer will have to complete and sign Form T2200, Declaration of Conditions of Employment. Please note that we will not prepare a tax return with deductions for employment expenses unless a properly completed T2200 is presented to us, and this for every individual tax year.

MOVING EXPENSES

Do you have moving expenses?

We may need information such as:

Please refer to the Worksheet section of our website

MEDICAL

If you have any medical expenses to claim for yourself and/or family members, please ensure to have all necessary documentation.

If all prescriptions are obtained from one pharmacy, instead of holding on to the tiny prescription receipts you may obtain a print out of all prescriptions purchased in the year upon request to the pharmacy.

Premiums paid to private health services plans, including travel medical insurance, are a deductible expense. However, if you do have a private service plan it is imperative that you obtain a print out of the yearly claims history from the insurance company.

If you travel at least 40 kilometres (one way) from your home to obtain medical services not available near your home, you may be able to claim vehicle expenses or expenses related to public transportation. Medical travel expenses can be tricky.  If you believe you may be in a situation to claim such expenses, please discuss the circumstances with one of our tax consultants or tax preparers.

PERSONAL INCOME TAX CHECKLIST

Whether an existing or new client of Saveway Tax Services, the following checklist provides some great information and reminders:

(Published with consent from Video Tax News – www.videotax.com)

EMPLOYEES WORKING FROM HOME
IN 2021 - COVID-19

If you were a salaried employee (receiving employment income as documented on a T4 slip) and worked from home in 2022 due to COVID-19, you may be able to claim a deduction on the 2022 personal tax return for work space in home expenses.

Specifically, you may claim expenses related to work from home if you worked more than 50% of the time from home for a period of at least four consecutive weeks in 2022 and your employer did not reimburse all of your home office expenses.

If interested in obtaining greater detail on this deduction, you may refer to the Government of Canada website here.

We request that any client using our drop off service who worked from home in 2022 (employees only – receiving employment income on a T4) and wanting to claim a deduction for certain home expenses complete our special STS Employees Working from Home in 2022 Due to COVID-19 worksheet and include it along with the other tax related documentation upon submission to our office.

If opting to populate the detailed chart on the worksheet (must have a completed and signed form T2200S from employer), please only include the total amount for expenses you paid for the period(s) you worked from home.

Please refer to the Worksheet section of our website.

The worksheet appears on the second side of our drop off questionnaire as well as a standalone worksheet.