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Year 2023 tax checklist

By the end of this questionnaire you will have an option to upload all supporting documents you have.  
Note: Make sure you have all documents from your Financial Institiutions. They often mail slips late.

Important: We require one form per person per tax year for whom we are preparing income tax return. 

Prosimy o wypełnienie oddzielnej formy dla każdej osoby.

Thank you/dziękujemy;

Kasia Mucha

Cloud Accounting & Workflow Management / Tax Return Centre
3520 Glenhaven Beach Road
Innisfil, ON, L9X 2Z3

Tax Checklist - Income

Please ensure to upload all income slips including but not limited to...

• All T4 slips
• Investment income slips – Such as T5, T3, T4RSP, T4RIF, T4PS, T5008
• Pensions – Old Age Security T4A(OAS), Canada Pension T4AP, other pensions and annuities T4A, foreign pension
• Employment Insurance Benefits – T4E
• Social Assistance / Workers Compensation Payments T5007
• Self-Employment / Business Activities - Worksheet required-let us know
• Self-Employment / Commission Activities - Worksheet required-let us know
• Rental Income - Worksheet required-let us know
• Other income

Medical expenses

If you paid for healthcare expenses, you may be able to claim them as eligible medical expenses on your income tax return. 

You may deduct only amount of your total medical expenses that exceed 3% of your income.  Sample: if total income is $30,000 - you need to have receipts which total is higher than $900.

The Medical Expense Tax Credit is non-refundable tax credit, which means that it can be subtracted from tax owed, but cannnot create refund for you. Same idea for donations.

The medical expenses include a wide range of products, procedures and services, such as: medical supplies, optometrist, dental care, chiropractor, travel insurance, etc

You can claim medical expenses from previous years, given that it has not been claimed previously. You are allowed to pick your 12 month period (to maximize claim). As long as the end of the 12 months falls within the tax year you are reporting, you are free to choose the best time frame for your situation.

Did you work from home due to Covid-19 pandemic?

As an employee, you may be able to claim a deduction for home office expenses (work-space-in-the-home expenses, office supplies, and certain phone expenses). This deduction is claimed on your personal income tax return.

You are eligible to claim a deduction for home office expenses for the period you worked from home, if you meet all of the criteria:

• you worked from home in 2022 due to the COVID-19 pandemic or your employer required you to work from home
• you worked more than 50% of the time from home for a period of at least four consecutive weeks in 2022
• the expenses are used directly in your work during the period

 What counts as a work day?

• days you worked full-time or full-time hours from home

You have a choice of two options to calculate subsidy

Temporary flat rate method

If you worked more than 50% of the time from home for a period of at least four consecutive weeks in the year due to the COVID-19 pandemic, you can claim $2 for each day you worked from home during that period. You can then also claim any additional days you worked at home in the year due to the COVID-19 pandemic. The maximum amount that can be claimed is $500 per individual in 2021. This method can only be used for the 2020, 2021 and 2022 tax years.

Detailed method

This method allows you to claim the actual amounts you paid. It includes calculating the size of your workspace based on the square footage of your home. Note that you will need supporting documents like receipts and utility bills.

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On the next page you will choose which metod you want to use.

Tax Checklist - Deductions

Please ensure to upload receipts including but not limited to...

• Childcare – with supporting receipts and SIN of the caregiver
• Adoption costs
• Tuition Receipts – T2202 (Note - no other receipts for school expenses are deductible)
• RRSP Contributions (for Mar - Dec of the current tax year or 1st 60 days of the subsequent year)
• Child or Spousal Support – with a copy of the agreement if not previously provided
• Professional Fees or Union Dues (not included on T4)
• Medical Expenses - Worksheet required for more than 5 slips
• Charitable Donations (not included on T4)
• Interest on Student Loans
• Political Contributions
• Employment Expenses - Form signed by employer required [T2200]
• Tool Expenses - Form signed by employer required - [T2200]
• Carrying charges and interest expenses on investment
• Rent receipt with the amount and landlord information or property tax paid
• Moving Expenses – only if moving for work/school - worksheet required - [T1-M]
• Other

Auto expense form

You can deduct expenses you incur to run a motor vehicle you use to earn business income.

If, for instance, 60% of your mileage is for business purposes (40% personal), you can deduct 60% of the expenses related to the vehicle.

Motor vehicle expenses include interest on loans to purchase automobiles, capital cost allowance, automobile leasing costs, and operating expenses such as fuel, oil, maintenance and repairs, licence and insurance costs, and car washes.

If you also use a motor vehicle for personal use
Then you can only deduct the portion of the expenses that are directly related to using your vehicle for earning income – except for parking fees and the cost of supplementary business insurance for your vehicle; you can claim the entire cost of those expenses.

Parking costs are not included as motor vehicle expenses

Allowable motor vehicle expenses – Salaried employee expenses

You can deduct your motor vehicle expenses if you meet all of the following conditions:

• You were normally required to work away from your employer's place of business or in different places.
• Under your contract of employment, you had to pay your own motor vehicle expenses.
• You are not considered to have paid your own motor vehicle expenses if your employer reimburses you or you refuse a reimbursement or reasonable allowance from your employer.
• You did not receive a non-taxable allowance for motor vehicle expenses.
• Generally, an allowance is non-taxable when it is based solely on a reasonable per-kilometre rate.
• You keep with your records a copy of Form T2200, Declaration of Conditions of Employment, which has been completed and signed by your employer.

Tools expenses

If you were a tradesperson in the tax year, you may be able to deduct the cost of eligible tools you bought in that tax year to earn employment income as a tradesperson and as an eligible apprentice mechanic. Maximum deduction is $500.00 and you can not use them for any other purpose

To qualify, your employer must sign form T2200 confirming that you needed the tools for employment.

Home Office expense form

You can deduct expenses for the business use of a workspace in your home, as long as you meet one of the following conditions:

• it is your principal place of business
• you use the space only to earn your business income, and you use it on a regular and ongoing basis to meet your clients, customers, or patients

You can deduct part of your maintenance costs such as heating, home insurance, electricity, and cleaning materials. You can also deduct part of your property taxes, mortgage interest, and capital cost allowance (CCA). To calculate the part you can deduct, use a reasonable basis, such as the area of the workspace divided by the total area of your home.

If you use part of your home for both your business and personal living, calculate how many hours in the day you use the rooms for your business, and then divide that amount by 24 hours. Multiply the result by the business part of your total home expenses. This will give you the household cost you can deduct. If you run the business for only part of the week or year, reduce your claim accordingly.

Thank you for submitting your survey. If more information is needed we will contact you.

We will proces your income tax return as soon as possible. When finished, you will receive documents for approval and to be signed. Your Income Tax Return will be submitted to CRA after receiving signed documents and payment.

You may contact us during office hours, Monday - Friday: 9:00 AM till 7:00 PM. Saturday 10:00 till 4:00 PM.

If for any reason you need to upload more documents, please use email address below.

Kasia Mucha Cloud Accounting & Workflow Management 705-294-1590 info@cloudaccounting.plus