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*NEW* 2023 Trust Reporting Requirements

The CRA has implemented new tax legislation related to Trusts that has a very broad application which will apply to many arrangements where there has not been a reporting requirement in the past. You need to understand your filing requirements and let us know if you fall under these new reporting rules.

Client Resources

T1 Forms

T1 Engagement Letter 2023 (PDF format)

Personal Tax Return Checklist 2023 (PDF format): This checklist must be completed and sent with your signed engagement letter.

Personal Tax Return Organizer 2023 (PDF format): Use this to help yourself organize documents annually.

T1 New Client Form 2023: This form helps us get all the information needed to set up your return and enter you into our system.

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General T1 Forms

Professional Income (T2125) and Business Income (T2125) (PDF format) : Required to report you self-employed income/business activities for the year including home-office and auto expenses.

Rental Property Income  (PDF format): Applicable if you have rental properties. Do not use for home-office expenses. Self employed individuals should put home office information on the T2125 and employees on the T777.

Statement of Employment Expenses  (PDF format): Applicable if you have employment expenses such as home office, auto expenses, entertainment, etc. Do not use this if you are self-employed (signed T2200 form required).

Declaration of Conditions of Employment   (PDF format): Required for T777 schedule above.

Moving Expenses  (PDF format): Applicable if you moved for work or educational reasons you may claim your moving expenses.

Medical Expense Deduction  (Excel format): Applicable for all medical expenses you may want to claim including meals and mileage for medical travel.

Final and Trust Return Checklist  (PDF format)

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Financial Calculators

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Get in touch with  a professional accountant in Lloydminster for all your accounting and bookkeeping needs.

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