Personal Tax Filing Resources

You don’t need to be a Canadian citizen to be qualified as a resident of Canada. Anyone (age 18+) who lives in the Canadian territory for longer than 183 days during the tax year is considered a Canadian resident. In addition to the number of days you spend in Canada, the CRA also takes into account your residential ties to Canada when it comes to determining your residential status. 

Significant residential ties to Canada include：

  • a home in Canada
  • a spouse or common-law partner in Canada
  • dependents in Canada

Secondary residential ties that may be relevant include:

  • health insurance with a Canadian province or territory
  • personal property in Canada, such as a car or furniture
  • social ties in Canada, such as memberships in Canadian recreational or religious organizations
  • economic ties in Canada, such as Canadian bank accounts or credit cards
  • a Canadian driver’s license
  • a Canadian passport

We have developed a fillable form that will help you identify what information you need to submit. Completing and sharing this form with us is a great way for us to recognise anything that may have changed in the year as well

If you own foreign investments with an aggregate cost base greater than $100,000, form T1135 Foreign Income Verification Statement must be completed.

Foreign investments include:

  • Foreign bank accounts;
  • Shares or debt of any foreign entity;
  • Shares of a non-resident corporation;
  • Foreign rental properties;
  • Interest in a non-resident trust, partnership, property, or other entity;
  • Shares of foreign companies held in your non-registered investment portfolio.

If this applies to you, please provide us with the following:

  • T1135 Foreign Property report for 2024 from your investment advisor

If your foreign investment is not held by a broker, please provide the following information by country:

  • The maximum cost amount during the year;
  • The cost amount on December 31, 2024;
  • Gross income earned in 2024;
  • Capital gain or loss on disposition in 2024.

Additionally, if either situation below applies to you, please provide us with the details:

  • Any loans or transfers to certain foreign trusts, or a corporation controlled by such trusts;
  • Individuals who, in the year, received distributions from, or are indebted to certain foreign trusts.

Foreign investments do not include assets used in a business, personal use assets, and foreign investments held in registered plans (i.e., RRSPs, TFSAs, and RESPs).

To simplify any medical claim, we recommend that you send us detailed annual statements as follows:

For medical claims covered by your insurance plan:

  • Provide the insurance claim statements for services received in 2024. Please, do not also send the individual receipts or invoices.
  • Receipt for premiums paid to a private plan.

For any medical costs not covered by an insurance plan:

  • Provide the receipt with description of service, date, name of patient and proof of payment.

Other

If a family member’s health has changed during the year, they may qualify for the disability tax credit; their doctor will be able to help with that process.

Request a detailed prescription summary for 2024 from your Pharmacy. If you provide a summary, do not send the individual receipts.

Include any travel health insurance premiums paid.

When your return is complete and ready to be signed, we will send you an email from uptrendconsultingca@gmail.com through SignNow. SignNow is a safe and secure system that protects your information from email fraud.

Click on “Review and Sign” to review the documents and follow the signature tabs to apply your e-signature. Once signed, you can download a copy of your signed documents for your records.

After you get your Notice of Assessment from your first return, you’ll be able to sign up for MY Account.

This CRA website tells you how to sign up for My Account: https://www.canada.ca/en/revenue-agency/services/e-services/cra-login-services/cra-user-password-hel…