The 2011 Personal Income Tax Organizer is designed to assist you
in gathering the reporting information and documents necessary for
the preparation of your 2011 tax return.
Please complete the attached checklist and send all the
necessary information documentation to us AS SOON
AS POSSIBLE as we need time to prepare, process, check and
deliver your tax return by the filing deadline of April 30, 2012.
Please ensure that all documentation provided is complete.
This will allow for quicker processing and efficiency.
Note that if you or your spouse carried on a business in the
year, you have until June 15, 2012 to file your personal income tax
return. However, you and your spouse's tax liabilities are due
on April 30, 2012.
NEW PERSONAL TAX MEASURES FOR 2011 THAT CAN AFFECT YOUR TAX
The maximum RRSP contribution for 2011 has increased to $22,450.
Your RRSP deduction for 2011 is generally calculated as 18% of your
2010 earned income, less 2010 pension adjustments to a maximum of
$22,450 plus unused RRSP deduction room from carried forward prior
Children's art amount
For 2011 and subsequent years, the budget proposes a new
non-refundable tax credit based on eligible expenses paid for the
cost of registration or membership of your or your spouse's or
common-law partner's child in a prescribed program of artistic,
cultural, recreational or developmental activity.
Tuition amount – Examination fees
For examinations taken in 2011 and subsequent years, the budget
proposes to amend the tuition amount to include certain examination
fees paid to take an occupational, trade or professional
examination that is required to obtain a professional status
recognized by federal or provincial statute, or to be licensed or
certified as a tradesperson, to allow the person to practice a
profession or trade in Canada.
Now available on the web
Get more information on the most pressing tax issues at
www.soberman.com where you will find our latest news and
features, including our Tax Letters and Tax Tips.
IMPORTANT FOR EFILE
Filing your tax return electronically is fast, safe, easy and
environmentally friendly. All eligible tax returns
will be e-filed.
The benefits of using EFile Online are:
Individuals who have their returns e-filed can generally expect
to have their returns and refunds processed within two weeks. You
can get your refund even faster if you use direct deposit.
Soberman LLP receives an electronic acknowledgement that the
return has been received.
If you have to pay, you can e-file your return early and not
pay the amount owing until April 30th. Your payment can be made by
telephone, Internet banking, ATM or by using the remittance form.
In many cases, taxpayers receive their notice of assessment before
the payment is due.
Many of our clients feel they do not need a complete copy of
their tax return, which often consists of 20 to 30 pages. Most are
satisfied with a Jacket Outline, which is a
two-page summary of the tax return showing all line items. If you
require more information after receiving the Jacket Outline, simply
give us the line number, and we can provide the relevant schedules
or the complete return by mail or email.
Clients will be provided with a Jacket Outline unless otherwise
specified in this 2011 Personal Income Tax Organizer.
Soberman LLP will store your returns electronically in a secure
environment that can be easily accessed when, or if, required.
If you have any questions regarding the organizer, or wish to
discuss any aspect of your personal tax situation, please contact
us at your earliest convenience.
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