2021 Personal Income Tax Checklist
(to be filed in 2022)

This smart form will save your information and submit it to your tax preparer.  

You will also receive a copy by email indicating the supporting documentation you need to submit.

If you need more time to complete this form, just click Save and Resume Later (it's on the bottom of every page). Then, you'll be emailed a unique link so that you can pick up where you left off when you are ready.

Let's Get Started!

February 2022

Dear Client:

It’s time to prepare your 2021 personal income tax return. Please read and follow these instructions to help us expedite your return(s) and minimize any questions from the Canada Revenue Agency (CRA). We sincerely appreciate your cooperation and timely response.  

Step 1: 

  • Everyone: Please complete this online form and submit when ready.
  • Self-Employed: Complete the Self-Employed Supplement Checklist. It will automatically appear based on your answers.
  • For those with Rental Income: Complete the Rental Property Checklist. It will automatically appear based on your answers.

Step 2:

We require all tax slips and documentation requested. After you submit this form, you will receive a PDF reminding you of any slips or documentation required. 

There are three ways to submit your supporting documents:

  • Upload your documents via our secure online portal. Just click this link and follow the instructions.
  • Mail to our office by Canada Post
  • Deliver to our office drop box located in our front reception area on the 14th floor

Step 3:

When your tax return is complete, we will email you a secure PDF of the tax return for your review.  You will also receive a T183 form authorizing Stern Cohen to E-file your return. The T183 form must be signed and returned to us before we can E-file your return.

Please remember that late filed returns, late payment of taxes or instalments, and the failure to report income are subject to severe interest and penalty charges by the CRA.

We look forward to providing you with excellent service! If you have any questions, please contact us at your earliest convenience.

Yours truly,

STERN COHEN LLP
45 St. Clair Avenue West, 14th Floor

Other Important Information

CRA Penalties for Incomplete Tax Information:

Significant penalties may be incurred for not reporting all of your income.  While this is nothing new, we would like to caution you that it is now easier than ever for the CRA to electronically match reported income from your tax return to T-slips provided to them.  The CRA is rigorously reassessing and if you have also failed to report an amount in any of your previous returns (for years before 2021) you will be subject to a repeated failure to report income penalty equivalent to 20% of the gross amount not reported.

Therefore, it is very important that you provide us with all of your information.

If you receive additional T-slips after the fact, please notify us as soon as possible so we can file the necessary adjustments.

Deadlines:

May 2, 2022* 
*Since April 30 is a Saturday

Canadian tax returns must be filed for individuals without self-employment income.  Taxes are due for taxpayers reporting self-employment income.

June 15, 2022

Canadian tax returns must be filed for self-employed individuals.
US CitizensApril 18, 2022 for most and April 19, 2022 for those who live in MA or ME due to Patriots’ Day holiday.






Contact Information

Name*
Spouse / Common Law Partner (if applicable)
Daytime
Will you be out of town between now and May 2, 2022? If so, please indicate the date range below. I will be away from:
And I will be back on this date:

History

INSTRUCTIONS:  If the question applies to you OR your spouse, please indicate “YES” by selecting the respective box OR leave blank if not applicable.

1) Is this the FIRST year Stern Cohen is preparing your personal tax return? If yes, please provide a copy of your 2020 tax return and your Notice of Assessment for the 2020 tax year.
2) Did you receive a Notice of Reassessment in 2021 for any prior tax year? If yes, provide a copy of the Notice of Reassessment(s).
3) Are you a Canadian citizen?
Do you authorize the Canada Revenue Agency (CRA) to provide your name, address and date of birth to Elections Canada?
4) Are you a U.S. Citizen or “Green Card” holder?
5) If you are not a US citizen or Green card holder, were you present in the US for at least 31 days during 2021?
6) Did you own foreign property with a cost of $100,000 CAD or more at any time in 2021? If yes, please complete the Foreign Property Questionnaire that will appear next.
Note: This does NOT apply to personal use property (e.g. a home in Florida you do not rent).

FOREIGN PROPERTY QUESTIONNAIRE

The Canada Revenue Agency requires the filing of information forms for taxpayers who hold certain foreign property or have transactions with certain foreign entities. Foreign property includes foreign holdings in a Canadian non-registered investment account. Investments held in your RRSP, RRIF, TFSA, and/or through Canadian mutual funds should not be included.

*There are significant financial penalties for not filing these forms if they are applicable.

Please answer the questions below for each taxpayer and submit this form with your other tax information.

1. Did you hold foreign property with a total cost amount of more than $100,000 CAD at any time during the year? If yes, indicate yes by checking below the type of property held. This includes:
2. Have you ever at any time before 2022 transferred or loaned property to:
3. Have you at any time during 2021 owned 1% or more of the issued shares of any class of a foreign corporation?
4. Have you at any time during 2021 received property of any sort from a foreign trust and/or been indebted to such a trust?

Family

7) Did you (or your spouse or common-law partner) have any children in 2021? Did you adopt a child in 2021? If yes, provide the name(s), date(s) of birth, and social insurance number(s) (if available) for each child in the next field.
8) Did you (or your spouse or common-law partner) have a change of marital status in 2021? (E.g. Did you marry, enter into a common-law relationship, get separated or divorced?)
9) Are we preparing your spouse or common-law partner’s 2021 return?
10) Was your spouse or common-law partner self-employed in 2021?
11) Are you (or your spouse) eligible for the disability tax credit? If yes, provide form T2201 – the disability credit form must be signed by a doctor if one has not been provided to CRA in prior years.
12) Is there anyone dependent upon you because of their age or disability? If yes, provide the name, address, social insurance number, date of birth, disability certificate form (if not provided in prior years), details of relationship, and income information for each dependent.

Income

13) Did you pay income tax instalments during the year? If yes, provide the most recent statement of account.
14) Did you earn employment income? If yes, provide T4 slip(s) and/or details regarding any foreign employment income (e.g. US W-2 slip).
15) Did you exercise any employee stock options? If yes, provide strike price of option(s) exercised and value of underlying stock on date stock options were granted.
16) Did you earn self-employment income? If yes, provide a financial statement (if prepared) OR a summary of related income and business expenses. OR you can provide required details in the Self-Employed Supplement Checklist that will appear based on your answer.
17) Did you earn investment income (e.g. interest, dividends or royalties)? Provide T3 and T5 slips. Provide details of mortgage, private loan payment, or other investment income for which no T5 was issued.
18) Did you earn income from foreign investments? If yes, provide details of income earned, foreign tax paid (including foreign tax return filed if applicable), and any foreign tax slips (e.g. US 1099-INT).
19) Did you hold any cryptocurrency in 2021? If your answer is yes to this or the next question, your tax preparer will reach out to you.
20) Did you have any transactions* in cryptocurrency in 2021? *This includes transfers from one cryptocurrency to another cryptocurrency, transfers from cryptocurrency to cash, and vice versa.
21) Did you own an interest in any partnership? If yes, provide details of the original investment, income/loss allocations, contributions/ distributions since inception, T5013 slips (or US K1 slip).

Property

22) Did you own rental property? If yes, FOR EACH PROPERTY, please provide a financial statement (if prepared) OR a summary of related income and expenses OR complete the Rental Income Supplement Checklist that will appear at the end of this checklist.
23) Did you dispose of shares, bonds, real estate (other than your principal residence) or other properties? If yes, please provide the proceeds of disposition, adjusted cost base (ACB) or a gain loss report from your investment advisor. Provide supporting legal documents for any dispositions of real estate.
24) Did you dispose of your principal residence?
During the period you owned the property disposed of in 2021, did you hold any other property that may qualify as your principal residence (e.g. cottage or a home that you previously treated as your principal residence)? If yes, please contact our staff for further discussion. If no, we will designate the property disposed of in 2021 as your principal residence for all years owned.

Other Income & Expenses

25) Did you receive pension income or withdraw money from an RRSP, RRIF or RDSP? If so, provide T4A (OAS), T4A (P), T4A, T4RSP, T4RIF slips (as applicable) and gross amount of any foreign pension income received and any foreign tax paid.
26) Did you receive/pay spousal or taxable child support?
27) Did you receive any other income? If yes, provide details and supporting documentation.
28) Were you an employee who incurred authorized employment expenses like auto, travel, parking, meals, etc? If so, please provide the details of these expenses with form T2200 from your employer.
29) Were you an employee (not claiming employment expenses with form T2200 from your employer) and did you work from home?

*This question is for those who are employees who worked from home BUT it does not apply if you are an employee claiming authorized employment expenses with form T2200 from your employer.

Due to the COVID-19 pandemic, the rules and calculations for claiming home office expenses have changed significantly for 2021. 

If an employee worked more than 50% of the time from home for at least four consecutive weeks in 2021, AND expenses were incurred for employment without reimbursement, the new temporary flat rate method (or simplified method), allows the employee to claim $2/day for each day worked from home (to a maximum of $500 - 250 working days - in 2021). 

Multiple people working from the same home can each make a claim. 

Or, if you have more expenses to claim, you can choose the detailed method. The detailed method requires:

  •  supporting documentation of all expenses, 
  • a T2200S form from your employer, and
  • a detailed calculation of your home office expenses. 
Based on the description above, which method would you like to use?
Multiple people working from the same home can each make a claim. Supporting documentation is not required by the CRA.

The detailed method requires you to provide:

  •  supporting documentation of all expenses, 
  • a T2200S form from your employer, 
  • and a detailed calculation of your home office expenses.

If you qualify and you would like to use the detailed method, please calculate your expenses using the CRA's online calculator. 

You can find it on this link: 

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-229-other-employment-expenses/work-space-home-expenses/calculate-expenses.html

Then, please provide us with the results via the "Print preview" button on the CRA website at the end of the process. You must "Save as PDF" and download the document.

Your professional fees may be higher if you require assistance from our staff to complete the CRA calculator on your behalf.


30) Did you contribute to an RRSP? If yes, provide RRSP contribution slips.
31) Did you or your spouse purchase your first home in 2021? If yes, provide details on the purchase as you may be eligible for the First-Time home buyers’ credit.
32) Did you pay professional or union dues? If yes, provide the receipts.
33) Did you incur childcare expenses? If yes, provide receipts for daycare, camp, babysitting costs including the name and social insurance # of babysitter (if applicable).
34) Did you have any new or outstanding debt to finance business or investment activities? Provide explanation as to the purpose of the loan and interest paid for the year.
35) Did you relocate in 2021 more than 40 kms closer to a new place of work, business location or to attend a post-secondary program as a full-time student? If yes, provide receipts for all expenses, net of any reimbursements incurred including meals and lodging en route, moving company or truck rentals, temporary lodgings, cost for cancelling an unexpired lease or costs for selling your house.
36) Did you incur accounting fees, investment counsel fees or investment management fees with respect to your investments? Did you incur legal or accounting fees to respond to the Canada Revenue Agency (CRA) or to object to a tax assessment? If yes, provide receipts for amounts paid. Note: Fees paid in connection with a registered investment account (e.g. RRSP, RRIF, TFSA, RDSP, RESP) are not deductible.
37) If you were 65 or older in 2021, did you pay for public transit services operated by the government of Ontario or one of its municipalities? If yes, provide receipts, a presto card summary and/or passes to support the amounts paid in 2021. (Note: This only applies to individuals 65 or older. The previous transit credit available to all taxpayers was eliminated as of July 1, 2017.)
38) Were you or a dependent enrolled in post-secondary education? If yes, provide a T2202A slip (or TL11A for a foreign post-secondary institution.)
39) Are any of your dependents transferring unused tuition? If so, your tax preparer will contact you.
40) Did you pay interest on a student loan? If yes, provide total interest paid on student loans throughout the year. Interest must be paid to OSAP or a similar provincial or federal student loan program to be eligible for a tax credit.
41) Did you make charitable or political donations? If yes, provide the official donation receipts.
42) Did you incur any medical or attendant care expenses?

If yes, please provide all receipts for the expenses. 

TIP: Do you have multiple expenses from ONE service provider? 

SAVE TIME by asking them for a "Statement of Account" for 2021. 

For example, if you frequently purchase medicine at Shoppers Drug Mart you might have 30 receipts in a year.  A "Statement of Account for 2021" from Shoppers (or from any of your frequent service providers) will save you and Stern Cohen time documenting your expenses. If you have a Statement of Account, you can provide the annual/total amount (instead of listing each charge). Keep the separate paper receipts as backup.  

BONUS: If the CRA questions any of your personal medical expenses, the Statement of Account is a solid supporting document. The CRA tends to decline receipts which only show the owing amount, causing time-consuming back and forth communications.

43) Did you incur expenses in 2021 to improve the safety and accessibility of your home for someone 65 or older or someone that is eligible for the disability tax credit? If yes, you may qualify for the Federal Home Accessibility Tax Credit. Provide receipts for expenditures incurred.
44) Did you pay property taxes or rent during the year? Provide property tax receipt or rental receipts. Receipts must provide the municipality and amount paid or landlord, address and total rent paid.

Checklist for Self-employed Individuals

Is the business address the same as your home address?
CA$
Are you registered for HST?
Is Stern Cohen preparing the HST return?
Do your web pages or website(s) generate business or professional income?

Expenses:

Please provide a financial statement (if prepared);

OR a summary of related income and business expenses for the following categories;

OR indicate totals for each category in the form below. 

Indicate HST totals separately (on the right hand side).


CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
Please specify if you received any of these subsidies in 2021:
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
Do you use a motor vehicle for business use?
Did you buy or lease a new vehicle? If yes, please provide a copy of the purchase and sales agreement or lease agreement.
For calculation of expenses related to a motor vehicle, please indicate the cost of the following expenses:
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$

Capital Assets

Did you purchase capital assets for your business in 2021? (e.g. furniture, equipment, computers)

Home Office

Did you have a home office?
Did you meet one of the following criteria: a) The home office is where you work more than 50% of the time; OR b) The home office space is used only to earn your business income, and you use it more than 50% of the time to meet your clients, customers, or patients.

Home Office Expenses

For calculation of business-use-of-home expenses please indicate the following expenses:

CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$

Supplement for Rental Income

This rental property checklist is a guide to organize your rental income and expenses for the calendar year. 

Based on your paid invoices and cancelled cheques, please record total amounts (per property) on this form (or send separately). 

Please indicate HST totals separately.

For Canada Revenue Agency audit purposes, receipts for all expenditures should be available and are the responsibility of the taxpayer. 

Multiple Rental Properties?

In this case, we recommend you provide your tax preparer with a summary for each property. You can use the checklist below to see all of the relevant expense categories.

Are you registered to collect HST because of commercial rent being charged?
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
CA$
Save and Resume Later
Progress
Form secured by Formstack
Form secured by Formstack
Powered by Formstack Create your own form ›
Cancel
Confirm