2025 Canada Check List

For Canadian Returns, no extension is available. Please send information as early as possible.

The deadline to file your 2025 tax return and pay your taxes is April 30, 2026.
If you are self-employed, the deadline to file your tax return is June 15, 2026.  However, all taxes owed must be paid by April 30, 2026.

Residential Ties:  During 2025, did you sever residential ties with Canada? Please provide the date of your family's departure. 

Principal residence reporting:  If you sold your principal residence, converted it into a rental property, or departed from Canada during the year, please provide the following:
- Year of acquisition and original purchase price.
- Period occupied as principal residence.
- Sale price, if the property was sold.
- Fair market value of the property as of the date you severed residential ties with Canada/converted into an income producing property.

Personal Information:
Please ensure we have the following information in our files.
1. Social Insurance Number (SIN) for all persons in your family.
2. Dates of birth for all persons in the family.
3. Are you (and family members) Canadian citizens?  Would you like to be added to the voters list?
4. Current address.
5. Prior 2 years' income tax returns. (New clients only)
6. If you were not present in Canada for the entire year, please provide the number of days you were in Canada, include specific dates.


Sources of Income:

EMPLOYEE INFORMATION
- All income for the year as outlined on form T4(s) and W-2(s)
- Employment expenses (T2200)

SELF-EMPLOYMENT INFORMATION (T2125)
- Income as outlined on T4A(s), forms 1099(NEC),1099(MISC) and/or 1042-S
- Income records for amounts not included on T4A(s) or 1099(s)
- Expense records paid in 2025 which relate to your self-employment business
- Business-use asset information for amortization purposes (Cost, date placed in service)

SAVINGS & INVESTMENT OR DIVIDEND INFORMATION
- Interest and dividend income (T3, T5 and other sources)
- Income from sale of stocks or other property (T5008)
- Date of acquisition and records of cost or basis in property you sold
- Record of estimated tax payments made
- Details of capital transactions for the year (sales of stocks, bonds, other capital property)

RENTAL INCOME (T776)
- Property address
- Purchase date and cost of rental property
- Capital improvement vs repairs
- Gross rental income
- Expenses – mortgage interest, property taxes, insurance, repairs, management fees
- Record of estimated tax payments (NR-6)

RETIREMENT INCOME
- Pension, RRSP, RRIF and IRA/annuity income as outlined on forms T4A, 1099-R or 1042-S.
- Social security or Canada Pension Plan income as outlined on Form 1099-SSA(s) or T4A(OAS)/ T4A(CPP)

OTHER INCOME
- Gambling income (records showing income and expenses)
- Hobby income and expenses
- Prizes and awards
- Royalty or trust Income
- Record of alimony paid/received with name of ex-spouse and their tax identification number.


Types of Deductions

MEDICAL EXPENSES 
- Amounts paid for medical insurance, medical expenses for yourself and/or each dependent.

CHARITABLE TAX CREDIT
- Amounts paid to qualified charitable organizations - receipts are required

CHILDCARE EXPENSES
- Fees paid to a child care service provider, day nursery schools, day camp and daycare centre - receipts are required
- Fees paid to an independent caregiver - receipts are required and it must include caregiver`s SIN (Social Insurance Number)
 
HOME OFFICE EXPENSES DEDUCTION
-If you work from home, and wish to deduct home office expenses on your taxes, you’ll need to use the detailed method which requires additional information and calculations.

EDUCATIONAL EXPENSES
- Full time and part time post-secondary - T2202A from educational institutions
- Outside Canada - Form TL11A tuition slip
- Records of any scholarships and/or fellowships you received
- Student loan interest slip

RETIREMENT & OTHER SAVINGS
- RRSP contributions receipts
- Details of contributions to FIrst Home Savings Accounts. (FHSA)
- Details of contributions to Tax Free Savings Accounts. (TFSA)
- Investment expenses

Foreign Financial Information Reporting (Form T1135) If you are a resident of Canada, do you have assets outside of Canada with a value over $100,000? (Do NOT include personal use real estate or retirement accounts, only business, rental property and/or other foreign investments are reportable)

If so, please provide:
a) Nature and value of each asset or group of assets;
b) For each of the above investments, please indicate:
- Bank or investment name;
- Address
- Account number (if any)
- Maximum investment value during the year
- Income earned from this investment in 2025.

The above list is not intended to be comprehensive, but should serve as a general checklist for you. In many situations, other income or expense items may be relevant, as well as moving expenses, tuition fees and other issues.