Personal Tax Services

Individual Tax may consist of:

  • Individuals (Single / Separated)
  • Couples (Common-Law / Married)
  • Students (18+)
  • Seniors (65+)
  • Single Parent
  • First-time Filers

It is highly recommended to file taxes before the respective yearly deadlines to ensure no late filing penalties incur, also benefits are not interrupted.

Below is a list of documents required to process your taxes/

T-Slips:

  • T4 - Statement of Remuneration Paid (Employment Income)
  • T4A - Statement of Pension, Retirement, Annuity, and Other Income
  • T4E - Statement of Employment Insurance and Other Benefits (EI Benefits)
  • T2202 - Tuition and Enrolment Certificate
  • T3, T5, T5008 - Dividends, Interest and Mutual Funds (Investment Income)
  • T4A-OAS - Statement of Old Age Security
  • T4AP - Statement of Canada Pension Plan Benefits
  • T5007 - Statement of Benefits (Social Assistance / Workers’ Compensation)
  • Any other applicable slips starting with T

Forms / Receipts:

  • Charitable Donation Receipt(s)
  • Rent or Property Tax Receipts
  • Support Payments (Child / Spousal Support)
  • Medical Expenses
  • Professional / Union Dues
  • Professional Certifications
  • Student Loans Interest Payment
  • Home Renovations (Disability)
  • Employment Expenses
  • Child Care Expenses
  • Moving Expenses
  • Home Office Expenses
  • Carrying Charges

Documentation / Records:

  • ART Profile Page
  • Social Insurance Number (SIN) (First time filing with ART)
  • Spouse / Dependent(s) Information (if applicable)
  • Direct Deposit Statement (Bank), if not provided to CRA in the past
  • Disability Tax Credit Certificate, if applicable
  • Declaration of Conditions of Employment, if issued by the employer

Note: If unsure or you do not see information pertaining to a document you possess, feel free to bring it in to inquire.

Sole-Proprietorship / Self-Employment Taxes

If you have a sole-proprietorship or self-employment income, this income will be reported in the respective sections within your personal tax return.

Required Documents

  • ART Profile Page
  • ART Expense Sheet
  • Applicable T-Slips, Receipts and Documentation.
  • Income information in the form of Revenue and Expenses (Invoices and Receipts) for the year.
  • GST/HST Returns (if applicable)
  • Gross income from sales / services
  • Invoice breakdown on sales records/other income

Expenses

Can be referred with ART Expense Sheet here but for breakdown purposes:

  • Advertising
  • Insurance (Business / Car)
  • Meals and Entertainment
  • Professional Fees
  • Interest
  • Bank Charges
  • Office Expenses (Supplies)
  • Salaries and Wages (Payroll)
  • Car Maintenance and Repair
  • Gas
  • Utilities
  • Telephone
  • Travel Expenses
  • Rent/Property Tax

Home Office Expenses

If working from home, you may be able to deduct a certain percentage of expenses from your home office.

  • Property Tax
  • Utilities
  • Home insurance
  • Home maintenance and repair
  • Cable/Internet

Remote Tax Filing

Like an individual tax filing but intead done remotely through online correspondence. As a client you will fill out the ART Profile Page and send us your respective documentation via online attachments through email. Communication and updates can be done through email/phone/text.

Required:

  • ART Profile Page
  • Applicable T-Slips, Receipts and Documentation

Tax Adjustments

In the event where a mistake was made in data entry, forgetting to input a T-slip or a receipt, missed to claim allowable tax credits in past years etc. an adjustment can be done to help correct any potential errors on your return. This may result in a change to your refund in comparison to the initial filing.

Required:

  • Applicable T-Slips, Receipts and Documentation

Tax Planning

Tax planning can be thought of as an analysis of an individual/couple's financial situation to ensure tax efficiency is being applied. It is an ongoing process where we advise you on how to proceed on the current and future years.

Required:

  • Applicable T-Slips, Receipts and Documentation

Prior Years' Tax Filing

Did not file taxes for multiple years or just simply forgot to do so? You can still file for prior years' that you missed and could still be eligible for a refund.

Required:

  • ART Profile Page
  • Number of years you wish to file for
  • Applicable T-Slips, Receipts and Documentation for those years

Tax Returns for the Deceased

With the passing of a loved one, things can get complicated and does not necessarily mean the deceased's tax obligations are over. Additional planning may be required but is dependent upon the deceased individual's circumstances prior to their death.

Required:

  • ART Profile Page
  • Applicable T-Slips, Receipts and Documentation

Foreign Income Reporting

If you have earned income outside of Canada as a Canadian resident that income is taxable. However there are foreign tax credits in play that could reduce the tax owing.

Required:

  • Applicable Receipts and Documentation

Foreign Property Reporting

If you possess foreign assets that are valued over $100,000 CAD and are not reported accordingly, penalties will incur. By reporting it accordingly, penalties can be avoided and ensure you are in good standing.

Required:

  • ART Profile Page
  • T1135 - Foreign Income Verification Statement
  • Applicable Receipts and Documentation

Canadian Tax for Expats

Were you a Resident but currently living outside Canda? Have an investment or property here? You may have to file the tax return.We can help you in determining your residency status and tax filing criteria.

Required:

  • ART Profile Page
  • T1135 - Foreign Income Verification Statement
  • Applicable Receipts and Documentation

Investment Property/ Principal Residence Sales Reporting

If you have sold your Principal Residence or Investment property during the taxation year, you are required to report it to CRA.

Required:

  • Schedule 3
  • Purchase and Sales related info and related documentation.