McGowan Professional Corporation
Chartered Professional Accountant
*NEW* 2023 Trust Reporting Requirements (Currently on HOLD)
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
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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)