Tax return: Check list | 2021

 April 30, 2021

I like to put together a blog about my tax return, so I can work on return better and more efficiently. 

Here are some highlights:

1. RRSP - $2640 in total 2020, every month two payments, one is $100 to Scotia US 500 index, one is $120 to Canada index fund. 
2. T4 
3. T5 - No T5 form - Scotia saving accounts used to have interest close to $200 in 2019
4. Simpletax.com free service

I used the feature of SimpleTax to import tax slips from my CRA account, and tax form are filled automatically. 

I spent half hour to go over the filled forms and tax slips. Capital loss is around $700 dollars. 

Reference: 

2019 tax return

I have to learn better to manage myself. I download tax document from Scotiabank.com, but the documents related to my RRSP and T5 are not good enough for me. I need to come out the total amount I deposited.

Here are highlights for my preparation:

1. Use simpletax software
2. Download all scotia bank 2019 and 2020 checking account statements;
3. Manually go over monthly statement and check my RRSP deposit information. 
4. Enter my T4 information on simpletax.com
5. My RRSP limit is $52,056.00 based on CRA website
6. Review my auto deposit information on CRA website
7. My refund is $1074.25 dollars
8. Take picture of T4 document and save it on my github
9. Take picture of my $3000 dollar deposit on RRSP - Scotia Canada index fund statement
10. My RRSP contribution is $5280, from March to December 2019 is $4620, January to March 2020 is $660.
11. Download tax return 2019 report from simpletax.com
12. Find all deposit slips from January 2019 to Dec. 2019. 
13. Need to check hours worked in total, vacation days in total, sick days in total

Actionable Item

1. Add T5 $263.22 to my tax return, now tax return is 50 dollar less; $1021.45
2. I also look up checklist for tax return for Canadian and US residents.