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Dec 5, 20201 min

What to Prepare for Tax Time - Personal Tax Returns

Updated: Jan 10, 2021

Although tax season just finished for most of us, the next one is just around the corner.

This year in Canada, you will be able to claim a bit more on your personal return if you had to work from home due to COVID. To be prepared, you can put together your tax paperwork in advance.

At a minimum:

  • T-slips

  • Expenses related to your COVID allowed expenses

  • Student loan repayment paperwork (specifically in regards to the interest you paid on the loan)

  • Rental income and expenses

  • Medical receipts

  • Donation receipts

If you plan to complete your return yourself - two great DIY programs out there are:

  • SimpleTax

  • TurboTax

Both programs are simple to use

  • Reasonably priced

  • Prices include e-filing with the CRA

  • Both programs can pull your data from the CRA to make sure that you haven't forgotten any T-slips

If you would rather have help from a firm like ours, give us a shout via email at info@oeosolutions.com or give us a call at +1.587.997.6636 and we would be happy to help you out.

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