- Notify the payroll department of your employer(s) if you have changed your address throughout the year
- Notify the payroll department of your employer(s) if your tax code has changed due to marriage, separation, divorce, citizenship status, delivery of a disabled child or became a student
- Notify the payroll department of your employer(s) if you have reached the age of 65 or if you have applied for early CPP benefits; you will then be no longer subject to CPP premiums
- Declared bankruptcy during the year? The Trustee must file your pre-bankruptcy return
- If a taxpayer is deceased a "terminal" return still must be filed; usually arranged by the Executor
- If a business has failed throughout the year, be sure to file a final return. If the business was a corporation, you may be entitled to the Available Business Investment Loss (ABIL)
Helpful Hint: If you own a business, consider hiring your child. You may deduct the cost of the salary as long as the work your child does is necessary and the salary is reasonable considering your child's age and the amount you pay is what you would pay someone else.
All records MUST be kept for six years! |
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