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Last-Minute Tax-Time Checklist

By the Inspired Investor team

Published March 29, 2023 • 2 Min Read

Tick tock! The tax-season timer is on. You still have time to file your taxes, but time flies when you’re procrastinating. Perhaps you’ve had to engage in some last-minute scrambling in previous years? We’ve been there!

There’s no time like the present to start gathering what you’ll need to do your taxes. To help you stay on task, here’s a handy checklist:

  • Personal data, including your social insurance number
  • Income tax slips – for most Canadian residents, these are T-slips (T4s, T5s, etc.); residents of Quebec also receive RL-slips (RL-1, RL-2, RL-3, etc.)
  • Records of any additional income, like a self-employment income statement
  • Receipts for tax deductions, such as RRSP (Registered Retirement Savings Plan) contribution receipts, childcare or caregiver expenditures, medical expenses or charitable donations
  • Tax data from previous years, such as your RRSP contribution limit or repayments required under the Home Buyers Plan
  • Details regarding any tax installments paid throughout the year
  • Tax package sent by the Canada Revenue Agency, which includes your filing access code

Visit the RBC Tax Centre for important dates, definitions, tax receipts, documents and more help getting organized for your 2022 taxes.

+ Disclaimers

Financial planning services and investment advice are provided by Royal Mutual Funds Inc. (RMFI). RMFI, RBC Global Asset Management Inc., Royal Bank of Canada, Royal Trust Corporation of Canada and The Royal Trust Company are separate corporate entities which are affiliated. RMFI is licensed as a financial services firm in the province of Quebec.

The material in this Tax Checklist is intended as a general source of information only, and should not be construed as offering specific tax, legal, financial or investment advice. Every effort has been made to ensure that the material is correct at time of publication, but we cannot guarantee its accuracy or completeness. Interest rates, market conditions, tax rulings and other investment factors are subject to rapid change. You should consult with your tax advisor, accountant and/or legal advisor before taking any action based upon the information contained in this Tax Checklist.

This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.

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