Canada: 2015 Personal Income Tax Organizer

Last Updated: February 23 2016
Article by Crowe Soberman LLP

 The 2015 Personal Income Tax Organizer is designed to assist you in gathering the reporting information and documents necessary for the preparation of your 2015 tax return.

Please complete the attached checklist and send all the necessary information and 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 May 2, 2016. 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, 2016 to file your personal income tax return. However, you and your spouse's tax liabilities are due on May 2, 2016.

New personal tax measures for 2015 that can affect your tax  return:

RRSP Limits

The maximum RRSP contribution for 2015 has increased to $24,930. Your RRSP deduction for 2015 is generally calculated as 18 per cent of your 2014 earned income, less 2014 pension adjustments to a maximum of $24,930 plus unused RRSP deduction room carried forward from prior years.

TFSA Limits

The TFSA annual contribution limit for the 2015 tax year has increased to $10,000.

Withdrawals from RRIF, RPP and PRPP

The minimum amount that must be withdrawn each year from a RRIF, RPP or PRPP has been reduced for 2015 and later tax years. All or part of the amounts withdrawn in excess of the reduced 2015 minimum may be eligible to be re-contributed to a RRIF, RPP, RPP, or to buy a qualifying annuity and deducted.

Interest Paid on Student Loans

Interest paid in 2015 or the preceding five years on qualifying student loans can normally be claimed as a non-refundable tax credit. Interest paid on a Canada Apprentice Loan amount for registered Red Seal apprentices can also be claimed.

Family Tax Cut

For 2014 and later tax years, the calculation of the Family Tax Cut has been revised to take into consideration the unused tuition, education, and textbook amounts transferred from a spouse or common-law partner.

Children's Fitness Tax Credit

For the 2015 and subsequent tax years, the Children's Fitness Tax Credit has been made refundable. The maximum amount of fees eligible for the Children's Fitness Tax Credit for each child continues to be $1,000. The child must have been under 16 years of age (or under 18 years of age if eligible for the disability tax credit) at the beginning of the year in which an eligible fitness expense was paid. You can claim this amount if another person has not already claimed the same fees and the total amount claimed is not more than the maximum allowable if only one parent was making the claim.

Child Tax Credit

For 2015 and subsequent tax years, the Child Tax Credit has been replaced by the enhanced Universal Child Care Benefit. The Child Tax Credit was a federal, non-refundable tax credit for dependent children under 18 who ordinarily resided with the parent(s) throughout the taxation year.

Universal Child Care Benefit (UCCB)

For the 2015 tax year, the UCCB has increased to $160 per month for each child under the age of six, and there is a new benefit of $60 per month for each child aged six through 17.

Child Care Expense Deduction Limits

The child care expense deduction dollar limits have increased by $1,000 for the 2015 tax year. The maximum amounts that can be claimed have increased to $8,000 for each child under seven at the end of the year; $5,000 for each child aged seven through 16 at the end of the year; and $11,000 for each child eligible for the Disability Tax Credit.

Adoption Expenses

You can claim an amount for eligible adoption expenses related to the adoption of a child who is under 18 years of age. For the 2015 taxation year, the maximum amount of eligible expenses for each child increased to $15,255. For subsequent taxation years, the maximum amount will be indexed for inflation.

Parents can claim these adoption expenses in the tax year that includes the end of the adoption period for the child. The adoption period:

  • begins when an application is made for registration with a provincial or territorial ministry responsible for adoption (or with an adoption agency licensed by a provincial or territorial government) or when an application related to the adoption is made to a Canadian Court, whichever is earlier; and
  • ends when an adoption order is issued by, or recognized by, a government in Canada for that child or when the child first begins to live permanently with you, whichever is later.

Lifetime Capital Gains Exemption

For dispositions of qualified small business corporation shares in 2015, the lifetime capital gains exemption has increased to $813,600.

For dispositions of qualified farm or fishing property, the lifetime capital gains exemption has increased to $813,600 for dispositions before April 21, 2015 and to $1,000,000 for dispositions after April 20, 2015.

Mineral Exploration Tax Credit

Eligibility for the Mineral Exploration Tax Credit has been extended to flow-through share agreements entered into on or before March 31, 2016.

Form T1135: Foreign Income Verification Statement

The Form T1135 has been revised to introduce a simplified reporting method for individuals who own specified foreign property with a total cost of more than $100,000 but less than $250,000 throughout the year. The current detailed reporting method will continue to apply to taxpayers who, at any time during a year, held specified foreign property with a total cost of $250,000 or more.

Mobile Application

CRA has updated their mobile app for individual taxpayers. to download.

Important for EFile

It is now mandatory for all tax returns prepared by Crowe Soberman to be e-filed (certain exceptions are provided by CRA).

Filing your tax return electronically is fast, safe, easy and environmentally friendly.

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.
  • Crowe Soberman 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 May 2nd. 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 2015 Personal Income Tax Organizer.

Crowe Soberman 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.

Chartered Professional Accountants
February 9, 2016

Please click here to continue reading Crowe Soberman LLP's 2015 Personal Income Tax Organizer

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

To print this article, all you need is to be registered on

Click to Login as an existing user or Register so you can print this article.

Crowe Soberman LLP
In association with
Related Video
Up-coming Events Search
Font Size:
Mondaq on Twitter
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).
Email Address
Company Name
Confirm Password
Mondaq Topics -- Select your Interests
 Law Performance
 Law Practice
 Media & IT
 Real Estate
 Wealth Mgt
Asia Pacific
European Union
Latin America
Middle East
United States
Worldwide Updates
Check to state you have read and
agree to our Terms and Conditions

Terms & Conditions and Privacy Statement (the Website) is owned and managed by Mondaq Ltd and as a user you are granted a non-exclusive, revocable license to access the Website under its terms and conditions of use. Your use of the Website constitutes your agreement to the following terms and conditions of use. Mondaq Ltd may terminate your use of the Website if you are in breach of these terms and conditions or if Mondaq Ltd decides to terminate your license of use for whatever reason.

Use of

You may use the Website but are required to register as a user if you wish to read the full text of the content and articles available (the Content). You may not modify, publish, transmit, transfer or sell, reproduce, create derivative works from, distribute, perform, link, display, or in any way exploit any of the Content, in whole or in part, except as expressly permitted in these terms & conditions or with the prior written consent of Mondaq Ltd. You may not use electronic or other means to extract details or information about’s content, users or contributors in order to offer them any services or products which compete directly or indirectly with Mondaq Ltd’s services and products.


Mondaq Ltd and/or its respective suppliers make no representations about the suitability of the information contained in the documents and related graphics published on this server for any purpose. All such documents and related graphics are provided "as is" without warranty of any kind. Mondaq Ltd and/or its respective suppliers hereby disclaim all warranties and conditions with regard to this information, including all implied warranties and conditions of merchantability, fitness for a particular purpose, title and non-infringement. In no event shall Mondaq Ltd and/or its respective suppliers be liable for any special, indirect or consequential damages or any damages whatsoever resulting from loss of use, data or profits, whether in an action of contract, negligence or other tortious action, arising out of or in connection with the use or performance of information available from this server.

The documents and related graphics published on this server could include technical inaccuracies or typographical errors. Changes are periodically added to the information herein. Mondaq Ltd and/or its respective suppliers may make improvements and/or changes in the product(s) and/or the program(s) described herein at any time.


Mondaq Ltd requires you to register and provide information that personally identifies you, including what sort of information you are interested in, for three primary purposes:

  • To allow you to personalize the Mondaq websites you are visiting.
  • To enable features such as password reminder, newsletter alerts, email a colleague, and linking from Mondaq (and its affiliate sites) to your website.
  • To produce demographic feedback for our information providers who provide information free for your use.

Mondaq (and its affiliate sites) do not sell or provide your details to third parties other than information providers. The reason we provide our information providers with this information is so that they can measure the response their articles are receiving and provide you with information about their products and services.

If you do not want us to provide your name and email address you may opt out by clicking here .

If you do not wish to receive any future announcements of products and services offered by Mondaq by clicking here .

Information Collection and Use

We require site users to register with Mondaq (and its affiliate sites) to view the free information on the site. We also collect information from our users at several different points on the websites: this is so that we can customise the sites according to individual usage, provide 'session-aware' functionality, and ensure that content is acquired and developed appropriately. This gives us an overall picture of our user profiles, which in turn shows to our Editorial Contributors the type of person they are reaching by posting articles on Mondaq (and its affiliate sites) – meaning more free content for registered users.

We are only able to provide the material on the Mondaq (and its affiliate sites) site free to site visitors because we can pass on information about the pages that users are viewing and the personal information users provide to us (e.g. email addresses) to reputable contributing firms such as law firms who author those pages. We do not sell or rent information to anyone else other than the authors of those pages, who may change from time to time. Should you wish us not to disclose your details to any of these parties, please tick the box above or tick the box marked "Opt out of Registration Information Disclosure" on the Your Profile page. We and our author organisations may only contact you via email or other means if you allow us to do so. Users can opt out of contact when they register on the site, or send an email to with “no disclosure” in the subject heading

Mondaq News Alerts

In order to receive Mondaq News Alerts, users have to complete a separate registration form. This is a personalised service where users choose regions and topics of interest and we send it only to those users who have requested it. Users can stop receiving these Alerts by going to the Mondaq News Alerts page and deselecting all interest areas. In the same way users can amend their personal preferences to add or remove subject areas.


A cookie is a small text file written to a user’s hard drive that contains an identifying user number. The cookies do not contain any personal information about users. We use the cookie so users do not have to log in every time they use the service and the cookie will automatically expire if you do not visit the Mondaq website (or its affiliate sites) for 12 months. We also use the cookie to personalise a user's experience of the site (for example to show information specific to a user's region). As the Mondaq sites are fully personalised and cookies are essential to its core technology the site will function unpredictably with browsers that do not support cookies - or where cookies are disabled (in these circumstances we advise you to attempt to locate the information you require elsewhere on the web). However if you are concerned about the presence of a Mondaq cookie on your machine you can also choose to expire the cookie immediately (remove it) by selecting the 'Log Off' menu option as the last thing you do when you use the site.

Some of our business partners may use cookies on our site (for example, advertisers). However, we have no access to or control over these cookies and we are not aware of any at present that do so.

Log Files

We use IP addresses to analyse trends, administer the site, track movement, and gather broad demographic information for aggregate use. IP addresses are not linked to personally identifiable information.


This web site contains links to other sites. Please be aware that Mondaq (or its affiliate sites) are not responsible for the privacy practices of such other sites. We encourage our users to be aware when they leave our site and to read the privacy statements of these third party sites. This privacy statement applies solely to information collected by this Web site.

Surveys & Contests

From time-to-time our site requests information from users via surveys or contests. Participation in these surveys or contests is completely voluntary and the user therefore has a choice whether or not to disclose any information requested. Information requested may include contact information (such as name and delivery address), and demographic information (such as postcode, age level). Contact information will be used to notify the winners and award prizes. Survey information will be used for purposes of monitoring or improving the functionality of the site.


If a user elects to use our referral service for informing a friend about our site, we ask them for the friend’s name and email address. Mondaq stores this information and may contact the friend to invite them to register with Mondaq, but they will not be contacted more than once. The friend may contact Mondaq to request the removal of this information from our database.


This website takes every reasonable precaution to protect our users’ information. When users submit sensitive information via the website, your information is protected using firewalls and other security technology. If you have any questions about the security at our website, you can send an email to

Correcting/Updating Personal Information

If a user’s personally identifiable information changes (such as postcode), or if a user no longer desires our service, we will endeavour to provide a way to correct, update or remove that user’s personal data provided to us. This can usually be done at the “Your Profile” page or by sending an email to

Notification of Changes

If we decide to change our Terms & Conditions or Privacy Policy, we will post those changes on our site so our users are always aware of what information we collect, how we use it, and under what circumstances, if any, we disclose it. If at any point we decide to use personally identifiable information in a manner different from that stated at the time it was collected, we will notify users by way of an email. Users will have a choice as to whether or not we use their information in this different manner. We will use information in accordance with the privacy policy under which the information was collected.

How to contact Mondaq

You can contact us with comments or queries at

If for some reason you believe Mondaq Ltd. has not adhered to these principles, please notify us by e-mail at and we will use commercially reasonable efforts to determine and correct the problem promptly.