2016 PERSONAL TAX CHECKLIST

Transcription

1 Kaushal & Company Chartered Professional Accountants Inc. Suite Columbia St. New Westminster, BC V3M 1B2 T F PERSONAL TAX CHECKLIST Full Name: Full Name: Has your martial status changed in 2016? Y/N Has your martial status changed in 2016? Y/N Any additional dependants in 2016? Y/N Any additional dependants in 2016? Y/N Have you moved since the last filed return? Y/N Have you moved since the last filed return? Y/N If yes please provide new address: If yes please provide new address: Are you a Canadian citizen? Y/N Are you a Canadian citizen? Y/N Do you own foreign property with a total cost Do you own foreign property with a total cost of more than CAN $100,000 in 2016? Y/N of more than CAN $100,000 in 2016? Y/N Have you invested in foreign affiliates? Y/N Have you invested in foreign affiliates? Y/N Did you sell your principal residence in 2016? Y/N Did you sell your principal residence in 2016? Y/N Mark an "x" next to items applicable to you: INCOME DEDUCTIONS T4 employment income RRSP contributions T4(OAS) old age security pension Union or professional fees T4A(P) Canada pension Interest expense on investment T4A pension, annuity, other income Carrying charges portfolio fees T4E employment income benefits Child care expenses T4PS employment profit sharing plan Moving expenses* RC62 universal child care benefit Disability amount T5 dividend and interest income Support payments T5013 partnership income T101 exploration & development exp T5018 contract income Employment expenses T2200 required* T3 trust, estate, mutual fund income T4RSP RRSP income CREDITS T4RIF RIF income Public transit amount T5006 labour sponsored funds Child's fitness amount (up to $500) T5007 statement of benefits Child's art amount (up to $250) T4A(RCA) RCA distributions Eligible educator school supply credit Foreign income* First time home buyer amount Capital gain/loss Caregiver amount Other income Disability amount T2201 required Self employment income* Tuition T2202 required Rental income* Interest on student loans Medical expenses *Please complete the required schedules: Donations Foreign property/investments Political contributions Self employment income summary T5006 labour sponsored funds Rental income summary Tax paid by installments Moving expenses Employment expenses summary

2 FOREIGN PROPERTY/INVESTMENTS Funds held outside of Canada: Funds held outside of Canada: Name of bank/entity held at Name of bank/entity held at Maximum funds during the year $ Maximum funds during the year $ Funds as of December 31, 2016 $ Funds as of December 31, 2016 $ Interest income $ Interest income $ Shares/investments outside of Canada: Shares/investments outside of Canada: Name of share/corporation Name of share/corporation Maximum costs during the year $ Maximum costs during the year $ Cost as of December 31, 2016 $ Cost as of December 31, 2016 $ Income (loss) $ Income (loss) $ Property outside of Canada (excludes personal use): Property outside of Canada : Description of property Description of property Maximum value during the year $ Maximum value during the year $ Value as of December 31, 2016 $ Value as of December 31, 2016 $ Rental income $ Rental income $ Loan over $100,000CDN to a non resident: Loan over $100,000CDN to a non resident: Description of loan Description of loan Maximum amount during the year $ Maximum amount during the year $ Amount as of December 31, 2016 $ Amount as of December 31, 2016 $ Income (loss) $ Income (loss) $ SALE OF CANADIAN INVESTMENTS (excluding investments held in RRSP, TSFA, or other registered plans) Name Year of Purchase Date of Sale Currency Units Cost of Shares Outlays & Expenses Proceeds 1) $ $ $ 2) $ $ $ For sale of investments over 2 transactions, please attach the following: 1. Investment year end summary statements as of December 31, Realized gains/loss report from your investment broker page 2

3 SELF EMPLOYMENT INCOME Please attach additional forms if more than 1 self employment source Name of Business Type of Business % Ownership % Ownership by Spouse % % Ownership of Other Partners % Name and SIN of Other Partners Do we need to prepare your GST return? Y / N GST Number Gross Sales $ Business Use of Home Expenses GST Collected (if applicable) $ Area of home used for business sq ft Total area of home sq ft Opening Inventory $ Heat $ Purchases $ Electricity $ Direct Wages $ Insurance $ Subcontractors $ Maintenance $ Mortgage Interest $ Advertising $ Property Taxes $ Meals and Entertainment $ Other please indicate $ Insurance $ Interest $ Motor Vehicle Expenses Business Fees, Licenses, Dues $ Kms for business purposes km Office Expenses $ Kms in total km Supplies $ Fuel $ Professional Fees $ Insurance $ Management Fees $ License and Registration $ Maintenance and Repairs $ Maintenance and Repairs $ Salaries, wages $ Parking Fees $ Property Taxes $ Other please indicate $ Travel $ Telephone and Utilities $ Purchase of a Vehicle for Business Purposes Other please indicate $ Date Acquired: Cost of Vehicle $ Purchase of Equipment for Business Purposes Make, Model, Year of Vehicle Type of Equipment Date of Purchase Lease of a Vehicle for Business Purposes Cost $ Date Lease Commenced Type of Equipment Date Lease Terminates Date of Purchase Total Lease Charges $ Cost $ page 3

4 RENTAL INCOME Please attach additional forms if more than 1 rental property Name of Property Owner(s): Type of Rental: Commercial / Residential Address of Rental Property: % Ownership % % Ownership by Spouse % Name and SIN of Other Partners: % Ownership of Other Partners % Name and SIN of Other Partners: % Ownership of Other Partners % Is this the Final Year of Operation? Y / N Gross Rents $ Personal Usage of Rental Property % Advertising $ Insurance $ Interest $ Office Expenses $ Professional Fees (legal and accounting) $ Management and Administration Fees $ Strata Fees $ Salaries and Wages $ Property Taxes $ Repairs & Maintenance $ Travel $ Utilities $ Other please indicate $ For sale of Real Estate, Depreciable Properties, and Other Properties (including sale of principle residence) please include the following: 1. Purchaser's Statement of Adjustments (document indicating your purchase of the property) 2. Seller's Statement of Adjustments (document indicating the sale of your property) page 4

5 MOVING EXPENSE DEDUCTION Applicable for relocation for employment/educational purposes of at least 40km Purpose of move: Employment/Education Purpose of move: Employment/Education Address of old residence: Address of old residence: Address of new residence: Address of new residence: Method of travel Method of travel Expenses (exclude reimbursed amounts): Transportation of items Storage cost of items Cost to cancel old residence lease: Cost to maintain old residence vacant: Other (please specify) Expenses (exclude reimbursed amounts): Transportation of items Storage cost of items Cost to cancel old residence lease: Cost to maintain old residence vacant: Other (please specify) Nights of accommodation: Accommodation cost: Number of meals: Average meal cost per meal: Nights of accommodation: Accommodation cost: Number of meals: Average meal cost per meal: NORTHERN REISDENTS DEDUCTION Address of prescribed zone: Address of prescribed zone: Period from (year, month, date) Period to (year, month, date) Period from (year, month, date) Period to (year, month, date) page 5

6 EMPLOYMENT EXPENSES Please provide us with an employer signed T2200 in order to claim the expenses Expenses: Accounting and legal fees $ Advertising and promotion $ Food, beverages, and entertainment $ Lodging $ Parking $ Supplies postage, stationery, office supplies $ Other please describe $ Motor Vehicle Expenses: Information regarding the vehicle used to earn employment income: Make Model Year Kilometres driven in the tax year to earn employment income Total kilometres driven in the tax year km km Fuel gasoline, propane, oil $ Maintenance and repairs $ Insurance $ Licence and registration $ Car lease payments $ Car lease interest $ Other please describe $ Work space in the home expenses: Area of home used for workspace Total area of home sq ft sq ft Electricity, heat, and water $ Maintenance $ Insurance (commission employees only) $ Property taxes (commission employees only) $ Please note that rent, mortgage payments, and mortgage interest amounts are not deductible. page 6