Tax Guide & Checklist | Friesen Accounting

Frequently Asked Questions

"Do I need to make an appointment?"

Yes! We do require you to book an appointment. Please wait until you have ALL your tax slips and information! Once you're ready, call us at 780 928 3277.

Please note that February 1 - April 30 is our busy season! We ask for your patience during this time!

"When do you start taking appointments?"

Appointments start February 18!

"Do you accept new clients?"

Yes! We look forward to meeting you!

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"When is my tax return due?"

April 30, 2025 for most taxpayers

If you don't have any farming or business income, and all your income is on tax slips such as T4s, you need to file and pay any amounts owing by April 30, 2025 to avoid interest and penalties.

If you are self-employed with a farm or a business, you need to file by June 16, 2025. However you are still required to pay any balance owing by April 30, 2025.

Note that if you don't have any amount owing on your tax return and you file late, you will not be charged penalties however you may stop receiving your benefit and credit payments such as GST and the Canada Child Benefit.

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"What do I need to bring?"

We've compiled a checklist to help you gather what you need to file your tax return. See below!

Please note that while we've done our best to make this list as complete as possible, please bring in anything not covered here if you believe you need to report it on your tax return. We'd be happy to review it with you!

"How much will I get back?"

Without seeing all your documents and entering it into our program, we aren't able to determine your refund or balance owing amount. This is due to the complex calculations required.

Here's what you need to provide:

Do I need to make an appointment?

Personal Information

your personal information, including your SIN

photo ID, if we have not filed for you before

spouse/common-law's tax return, if we are not filing their return

dependent(s) information

last year's Notice of Assessment, if we did not file the return

any relevant letters from CRA

banking information, if you want to start or change direct deposit

Tax Slips

You are required to bring *ALL* of your slips to avoid a 20% penalty from CRA. If you get a slip after filing, bring it to us and we'll adjust your tax return. Slips you may receive include (but are not limited to) the following:

T4 (employment income)

T4RIF (RRIF withdrawal)

T4RSP (RRSP withdrawal)
T4FHSA (FHSA withdrawal)

T4PS (profit share)

T2202 (tuition fees), for you or a dependent. (If you don't have a paper copy of this slip, bring your university log-in and we can print it for you.)

T3 (investment income)

T5 (investment income)

T4A (CERB, UFA, Co-op)

T4E (EI benefits)

T5018 (sub-contractors)

T4A(OAS) (Old Age Security)

T4A(P) (Canada Pension Plan)

T5007 (WCB / AB Seniors Benefit / social assistance / AISH)

all corresponding provincial slips and any other slips you have received

Details of Income

Self-Employed Income

details of any employment income that is not on your T4 slips

business income*

farming income*

partnership income

internet business activities and web address

*Do you own a farm or business? You may be interested in our accounting record books! They are easy to use and help us be quicker and more accurate when filing your return - plus they are FREE for our clients! Pick one up anytime at our office. Click here for more information.

Other Income

rental income, including all amounts received from the sharing economy (AirBnB, Uber, etc)

interest income that is not on your T5 slips

tips earned

Co-op equity statement (T4A is also required!)
real estate sales - lots, land or second property

investment income reports (Wealth Simple, Q Trade, bitcoin, stocks)

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Expenses and other information

Moving Expenses

Moving expenses, if you moved more than 40km closer to work and had, or will have, income after the move

Foreign Property

Details of foreign property (stocks, cash, trusts, real estates, etc) owned at any time in the year that is valued over $100,000CAD

Employment Related

Employment related expenses - you must provide form T2200 provided and signed by your employer
Tools acquired by apprentice mechanics or other tradespeople. Limit is $1000.
Union or professional dues that are not on your T4 slips

Loans

Interest on student loans (only provincial and federal student loans qualify)
Interest on money borrowed to purchase investments or earn income (RRSP loans do not qualify)

RRSPs

RRSP investment purchase receipts. If you contribute monthly, bring the current year January and February receipts as well (these may only be received in March), and last year's January and February receipts if they did not get claimed.

Medical Expenses & Disabilities

Medical expenses - provide all receipts for prescriptions, glasses, eye exams, dental expenses, ambulance, Blue Cross or similar plan premiums. Click here for a full list of eligible medical expenses.

Medical travel - if travel was required due to the service not being available locally, provide trip receipts and signed doctors' letters (blank forms can be picked up at our office) that states you were required to travel, and whether you required someone to travel with you.

Disability Tax Credit for you or a family member - provide form T2201 signed by a doctor. Note that the application process can take a long time and the tax credit can only be claimed once approved. Eligible diseases/conditions include (but are not limited to) diabetes, cystic fibrosis, kidney dialysis, down syndrome, blindness, confinement to wheelchair and mental disabilities. Click here for a complete list.

Disability supports expenses

Northern Residents & Travel

Northern Residents - provide at least your January or December utility bills or rent receipts, or your property tax bill. This is *required* even if you are only claiming travel.
Northern travel - provide receipts for fuel, hotels, campground fees, parking fees, meals, etc. Credit card or bank statements are acceptable if they show the city of purchase. You can claim travel expenses of up to the amount in Box 32 of your T4, or a standard $1200 per family member under 18.

Children in the household claiming a portion of the northern residence or travel need a letter signed by a parent (letter can be picked up at our office, must be signed before your appointment) and a copy of utility bills, rent receipts or a property tax bill in the parents' names.

(Note - To speed up your appointment time, you can fill out our trip details form for each of the trips you would like to claim prior to filing. This is not required.)

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Children

Child care expenses, only if incurred when you went to work
Adoption related expenses

Home

Home office expenses - you may be eligible to claim home office expenses *if* you worked from home 50% or more of the time over a consecutive 4 week period
First time home buyers' tax credit, if you purchased your first home. Provide legal documentation of the purchase.

*Did you buy or build a new house? You may be eligible to receive some GST back. Contact our office for more details.

First Home Savings Account (FHSA) receipts, if you contributed. Maximum contribution is $8000 per year.
Sale of your home. Provide the year you purchasd it, the selling price and legal address.
Home accessibility tax credit - provide receipts for renovation costs that improve mobility and reduce risk *if* you are over 65 years old or claim the Disability Tax Credit.
Underused Housing Tax (UHT). If you own residential property and are a non-resident or have a non-resident partner, you may have to file a UHT return. Returns are due April 30.
Multigenerational Home Renovation tax credit. You can claim up to $50,000 in renovation expenses to create a self-contained secondary unit for a family member who has the Disability Tax Credit or is over 65 years old.

Teachers

Educator school supply tax credit for licensed teachers - provide receipts for eligible school/classroom supplies (up to $1000) and a letter from your employer confirming they were for use in the classroom.

Donations

Charity donation/contribution receipts (must be a registered charity). Small donations can have a significant benefit. Personal donations may have more benefit than those made by your corporation. US charities do not qualify unless you have US income. *Note - Government of Canada announced its intention to allow donations made in January and February 2025 to be applied to the 2024 tax year. This is not yet approved, and it is uncertain when or if it will be approved.*
Political donations receipts.

Clergy residence