Tax Check List and Adding an Authorized Representative to "My CRA"
- M P
- 3 days ago
- 4 min read
2025 INCOME TAX CHECKLIST
1. All information slips such as T3, T4, T4A, T4A(OAS), T4A(P), T4E, T4PS, T4RIF, T4RSP, T5, T10, T2200, T2202, T101, T1163, T1164, TL11A, B, C and D, T5003, T5007, T5008, T5013, T5018 (subcontractors), and all corresponding provincial slips.
2. Details of other income for which no T-slips have been received such as:
- other employment income (including stock option plans and Election Form T1212)
- business income (along with related expenses)
- partnership income
- rental income (along with related expenses)
- alimony, separation allowances, child maintenance
- pensions (certain pension income may now be split between spouses)
- interest income earned but not yet received - example Canada Savings Bonds, Deferred Annuities, Term Deposits, Treasury Bills, Strip Bonds, Compound Interest Bonds
- scholarships, fellowships, bursaries
3. Details of other expenses such as:
- employment related expenses - Form T2200 “Declaration of Conditions of Employment”
- tools acquired by apprentice vehicle mechanics
- business and employment purchases like vehicles, supplies, etc.
- interest on money borrowed to purchase investments
- investment counsel fees
- child care expenses
- alimony, separation allowances, child maintenance (i.e. spousal and child support)
- pension plan contributions
- adoption related expenses
4. Details and receipts for:
- Registered Retirement Savings Plan (RRSP) contributions
- union and professional dues
- tuition fees – either yours or transfers from eligible persons, Forms T2202, or TL11
- interest paid on qualifying student loans is eligible for a tax credit
- charitable donations
- medical expenses (any 12 month period ending in 2025)
- political contributions (both Federal & Provincial)
5. Details of capital gains and losses realized in 2025.
- investment account statements from your bank or broker
- confirmation slips for any securities trades (Summary Realized Gain/Loss Report for 2025)
- summary of all of securities sold - Company, #shares, amt received, original cost, date)
- details on the sale of a principal residence, including the sale amount, the date it was originally purchased and whether or not you will be claiming the Principal Residence Exemption on this property
6. Details of previous capital gain exemptions claimed, business investment losses and cumulative net investment loss accounts.
7. Name of spouse and list of dependents - including their incomes, birthdates and S.I.N.
8. Details regarding RRSP - Home Buyers’ Plan withdrawals and repayments; RRSP - Lifelong Learning Plan repayment.
9. Receipts for 2025 income tax instalments or, payments of tax. (or CRA statement of account)
10. Copy of 2025 personal tax returns (if we did not prepare them), 2025 Notice of Assessments and any correspondence from Canada Revenue Agency (CRA). You may also wish to allow us to have online access to this information with CRA’s online services. Please email us for details on how to authorize us to be your representative.
11. Details of carry forwards from previous years including losses, donations, forward averaging amounts, registered retirement savings plans.
12. Details of any foreign property owned at any time in 2025 including cash, stocks, trusts, partnerships, real estate, tangible and intangible property, etc.
13. Details of your Pension Adjustment Reversal if you ceased employment and were in a Registered Pension Plan or a Deferred Profit Sharing Plan. (T10 slip).
14. If you provided in-home care for a parent or grandparent (including in-laws) 65 years of age or over, or an infirm dependant relative, a federal tax credit may be available.
15. The age limit for maturing Registered Retirement Savings Plans and Deferred Profit Sharing Plans is 71 years of age. Please contact your RRSP holder or investment advisor if you are approaching this age about your conversion options.
“My Account” & “Authorize a Representative” Registration Instructions
THIS IS A 2-STEP PROCESS:
*If you have a “My CRA Account” registered, please skip to STEP 2 of this email – Authorize a Representative
Step1:
How to register for “My CRA Account”.
To get started, go to https://www.canada.ca/en/revenue-agency/services/e-services/cra-loginservices.html
My Account for Individuals
Provide personal information:
• Enter your social insurance number.
• Enter your date of birth.
• Enter your current postal code
• Enter an amount you entered on one of your income tax and benefit returns. Have a copy of your returns handy. The line amount requested will vary, it could be from the current tax year or the previous one. To register, a return for one of these two years must have been filed and assessed.
• Create a CRA user ID and password.
• Create your security questions and answers.
• Enroll in mandatory multi-factor authentication by selecting your preferred method (telephone or passcode grid). For more information, see multi-factor authentication.
After you complete step one of the registration process, you will have access to limited tax information on My CRA Account. A CRA security code will be mailed to you, which you should receive it in 5-10 days.
After receiving your security code, log in to your “My CRA Account” and enter your CRA security code, you will have full access.
*BC and AB clients can register and sign in with an Alberta.ca Account or BC Services Card, even if they have never filed a tax return.
STEP 2: HOW TO “AUTHORIZE A REPRESENTATIVE”:
• Log online to your “My Account” at www.canada.ca
• Select Option 2 - CRA Sign in
• Terms and Conditions “may” appear – select 1 - Agree
• Left side of your My Account home page you will find “Profile”
• Access your “Profile” page and scroll down to “Authorized Representatives”
• Select “ + ADD “
• Select “start”
• ENTER Rep ID : YL5B3B3 (Matthew Perry)
• Select “next”
• Select Level 2 - if level selection “required
• Select “submit”
Please let me know when you have completed your registration.
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