Your 2020 Personal Tax Return

We are writing this letter to assist you in getting your “tax stuff” together for us, so we can do our work to meet the April 30, 2021 filing deadline.  

Please download our 2020 T1 Checklist, as it should assist you.

1) Please deliver your tax information to us by Monday, April 5, 2021 to ensure we meet the filing deadline. Failure to deliver the information to us may result in additional charges. Information is encouraged to be uploaded securely on our firm website.

2) Please tell us if you sold a property in 2020 which was your primary residence. New rules require taxpayers to disclose this information to CRA (selling price and year of acquisition).

3) For efficiency purposes, your 2020 tax return package will be mailed out in May if not picked up, and all signatures will be electronic this year.

4) Please provide us with your investment advisor’s name and phone number as it is more efficient if we call them directly with questions.

5) We need a copy of your 2019 Notice of Assessment. This is required for any pertinent carry forward information (i.e. Capital Gains/Losses/RRSP Limits etc.)

6) Please tell us if you or any of your family members for which we are completing a tax return owned FOREIGN PROPERTY at any time during 2020 with a total COST of more than $100,000 CDN. We can explain this further if you have questions surrounding this topic.

7) If you or a member of your family was a first time home buyer in 2020, please provide us with the details as this may qualify for a tax credit.

8) For prescriptions, please contact your pharmacy for an annual print-out which is more efficient than having all the various slips and adding them up. This will also improve accuracy as nothing will be missed.

9) Re COVID-19 Working from home. If you worked more than 50% from home for a period of at least 4 consecutive weeks, you may be eligible for a new tax deduction. Please provide the total number of days you worked from home.

As you know our workload increases during March and April, so we appreciate getting the information as early as possible.

Ian Thompson

David has been a terrific support to me. He is responsive and gets to the point—both of which are qualities of utmost importance to me. David is a great guy, just like his dad Alan.