Your Guide to Gathering Tax Documents (Part 1/5)

Getting ready for tax season can feel overwhelming, but a simple way to start is by collecting all your necessary documents. Think of it as a treasure hunt for tax slips!

What to Look For:

• Income Slips: These are the most important. Keep an eye out for your T4 (from your employer), T4A (for pensions or other income), T4E (for Employment Insurance), and T5s (for investment income).

• Deduction & Credit Slips: If you contributed to an RRSP, you'll receive a slip. For students, the T2202 slip is for tuition fees.

• Medical & Donation Receipts: Don't forget to keep receipts for medical expenses and charitable donations. These can help lower your taxable income.

  
  

Having these documents ready will make the filing process much smoother and ensure you don’t miss any important information.

Source:https://www.canada.ca/en/services/taxes/income-tax/personal-income-tax/get-ready-taxes.html