What Info Do I Need to File my Tax Return Online?

If you're filing your taxes by yourself online, you probably want to try and get it over with in one shot. In other words, stop the pain as quickly as possible 😉

So, what do you need to prepare?

Here are the major sections of a tax return, which indicate the information you need on-hand.

Personal information

• Are you a Canadian resident? 
• If you're new to Canada, what date did you arrive and what was your foreign income before arriving (in Canadian dollars)?
• Have you been a student recently? 
• Are you a parent? What's the SIN number of your spouse?
• Do you need to retroactively file taxes for any of the past 3 years?

Income

• Are you salaried or self-employed? If you're salaried, have your T4 form accessible
• Do you have a side hustle? If so, have your income and expenses ready
• Do you have non-registered investments (meaning not a TFSA or RRSP)? If so, have your T3 and T5 forms ready
• Do you earn rental income?
• Tip: If you’ve already filed your taxes online, your T4, T3 and T5 form data should auto-populate

Deductible Expenses

• If you're a parent, what are your childcare expenses so that you or a spouse can work?
• If you're a student, know your tuition costs and the interest you pay on your student loan
• Did you pay out-of-pocket medical expenses greater than 3% of income?
• Do you have a form T2200 for work-at-home expenses?
• If you’re self-employed, have all of your deductible expenses ready

Tax Credits and Deductions

• What were your RRSP contributions this year?
• The software will check if you’re applicable for other Federal and Provincial credits

If you have lingering questions about filing your taxes, check out these other articles:

• An Easy, Cheap and Reliable Way to File Your Taxes
• What to Do With Your Tax Refund/ Taxes Owed
• Commonly Forgotten Tax Deductions