Tax Planning - Start Early! - Peter Kupovics, CPA, CMA, MBA

You should plan ahead so that you are prepared to file y

our tax return next yearwithout too much difficulty.One of the most important things to do during the year is to store all tax-related documents in one place. If you have a filing cabinet, have one or more folders for these documents, including:

your tax returns and supporting documents for previous years
notice of assessment and any other correspondence from the Canada Revenue Agency
records of tax installments made
records of repayments to Home buyers’ Plan or Lifelong Learning Plan
medical and dental cost receipts
transit pass receipts
receipts related to children’s activity and arts tax credits
charitable donation receipts
wage statements
RRSP donation receipts
records of RRSP or RRIF withdrawals
records of investment purchases and sales in non-registered accounts (transaction confirmations)
investment account monthly statements

For more information visit the Tax Tips website

Tax Planning – Start Early!

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