Tax return is filing a statement of one's Income and Expenses including details of assets and liabilities and details of taxes paid (if any). Tax refund is the excess of your withholding and estimated tax payments for the year that you paid over your tax liability. The Federal Government then issues a tax refund if you paid more taxes over the year for your tax bracket.

You did not earn any income for the year you are filing your taxes.

It reports how much employment income, commissions, taxable allowances and benefits, fishing income, or any other remuneration was earned during a given year. It is used to prepare your tax return. This includes your gross income and Canadian Pension Plan (CPP) discounts, EI – Employment Insurance, and Income Taxes, among others. Employers have until the last day of February to send all T4s to CRA and also a copy to all its employees. If you work in more than one company during the year, you will need all your T4s for your income tax return Canadian.

A T4A Canadian tax information slip is a Statement of Pension, Retirement, Annuity, and Other Income. It is prepared and issued by an employer, a trustee, an estate executor or liquidator, a pension administrator, or a corporate director, to tell you and the Canada Revenue Agency (CRA) how much of certain types of income you paid during a tax year and the amount of income tax that was deducted. Use T4As in preparing and filing your Canadian income taxes.

You receive it if you have investment income from mutual funds in non-registered accounts and from certain trusts. In Québec, you receive a relevé 16. The income may come from your own investments or from an estate trust as inheritance tax.

A partnership that receives a T5013 slip, has to report the information on its financial statements for the fiscal period.

This slip is used to report one transaction (or more than one transaction involving identical securities for the same client) you made for a person. There are three slips printed on each T5008 sheet.

You use this form if you own and rent real estate or other property. This form is to report all rental income you received from rented property.

The form is used to report your business / self-employed income and expenses, including self-employed commission sales. Your net business income is posted to your general income and benefit return and included in your taxable income. You must complete a separate T2125 for each business/ self-employment you own.

This must be filed by Canadian resident individuals (for the tax return), at any time of the year, who owned specified foreign property (the sum of all properties) costing more than $100,000.

Some taxpayers might think that the term “foreign property” just refers to real estate, but it encompasses much more. Find below some examples of specified foreign property:
 

• Funds held outside Canada;
• A life insurance policy you own from a foreign issuer;
• Interest you own in any offshore mutual funds;
• Any real estate you own held outside Canada;
• Shares you own in a foreign company;
• Interest you hold in a non-resident trust;
• Bonds or debentures owned from foreign countries.

Even if you don’t own foreign property costing more than CAD$100.000, as a Canadian resident, you must declare all your worldwide income. If you paid taxes on income you earned abroad, you’ll be able to credit them on your tax return.

Certificate sent by the school you studied in, until the last day of February, showing the amount of tuition, education, and textbook paid to a particular educational certified institution during a given year. This Certificate is required to prepare your tax return to calculate the student credits you will be entitled to deduct. Without it, we can not deduct student credit. Not all schools provide the T2202, only certified educational institutions. With T2202, we calculate the student credits. These credits are non-refundable, i.e., they do not generate income tax refund, they only reduce the amount of tax payable to zero. The maximum amount of tuition credits that can be used per year is 15% of what was paid for tuition and textbook, on the federal side of your tax return. However, this credit will only be used if you have sufficient income. If this credit is not used or partially used, it may be transferred to other years or to your spouse. Therefore, you do not get back the values you paid in education for the educational institutions in which you studied. You will receive a non-refundable credit if you have the T2202.

Child care expenses are amounts you or another person paid to have someone look after an eligible child so that you or the other person could:

• earn income from employment;

• carry on a business either alone or as an active partner;

• attend school under the conditions identified under the Educational program;

• carry on research or similar work, for which you or the other person received a grant.

Official receipts of eligible medical expenses. The taxpayer, a Canadian tax resident, may deduct eligible medical expenses from the taxpayer, spouse, and dependents, paid in any period within 12 months ending at the end of the calendar year of which the income tax refers, or those expenses which were not deducted from the previous tax return.

A receipt is a written acknowledgment that a donation was made to a charity. Registered charities can issue “official tax receipts”.

You can be eligible when:

You moved and established a new home to work or run a business at a new location; or
You moved to be a student in full-time attendance in a post-secondary program at a university, college, or other educational institution.

To qualify, your new home must be at least 40 kilometres (by the shortest usual public route) closer to your new work or school. This rule applies even if:

You moved within Canada.
You moved from outside Canada to a new work location in Canada.
You moved from Canada to a new work location outside Canada.
You moved between two locations outside Canada.