Q. What do you need to do before filing your taxes?
A. You’ll need to gather a number of documents; that can include the following:
- If you’re an employee, a T4, Statement of Remuneration Paid form, which shows how much your employer paid you.
- If you’re retired, a T4A - Statement of Pension, Retirement, Annuity and Other Income, which shows you much you earned in retirement payments.
- If you made money from investing, you’ll need a T5 - Statement of Investment Income, which shows items such as dividends, interest from bonds or money you loaned, and much more.
- If you received Employment Insurance (EI), a T4E - Statement of Employment Insurance and Other Benefits.
- If you received Worker’s Compensation or Social Assistance, a T5007 - Statement of Benefits.
- Receipts: You’ll need these to claim expenses such as public transit, child care, and moving and medical expenses.
- All your receipts for your RRSP contributions: In addition to a Notice of Assessment, you’ll need to have all your RRSP receipts – and there are often more than one. The first receipt will likely cover your contributions from March to December, the other for January and February. Have them both so you can add them up and have proof of how much you contributed in total.
- Other documentation: You’ll need to bring a Notice of Assessment to determine how much you can contribute to your RRSPs.
Q? What is the deadline for filing my taxes?
A. April 30 — if you have a balance owing.
June 15 — If you or your spouse or common-law partner ran a Sole Proprietorship business within the year. But you still have to pay your taxes by April 30th if you owe money to the government.