All you Need to Know About 2022 Personal Tax Filing  

Do not send us sensitive documents or personal information by email. It is too easily hacked by fraudsters expert in identity theft.

Gather all of your documents electronically. Submit them together through ShareFile. It’s easy, quick and efficient. Please group similar documents into a single file whenever possible.

We go through a separate assessment process each time you submit documents. That adds time. Sending us all your information at one time means just one assessment process.

If you are new to ShareFile or need a refresher please view our guide and short training videos below. It isn’t as daunting as it may sound.

We will accept paper documents but they require considerable extra time for our team to sort, scan and save electronically. Doing that yourself through ShareFile is a great time saver.

We understand that for some of our clients providing GGFL with paper documents is the preferred or only solution. Our team will scan and save all documents necessary to prepare the tax return in an electronic format. Our data retention policy of 7 years meets CRA requirements. We will shred all paper documents six months after the filing deadline. Upon request, we can provide you with the electronic files. If you have any questions please speak with your partner.

If you receive a tax slip after your return has been filed don’t worry. Just notify us immediately to avoid penalties and interest. We will adjust your return accordingly.

Each client has a unique tax situation and it can change from year to year.

It’s why we have developed a handy fillable form that tells you what information you need to submit. Completing and sharing this form with us is a great way to help get your tax filing done accurately and on time. Just click on the link below.

GGFL’s Personal Tax Organizer – Fillable

Information you may need to provide includes:

Income
All T4 slips including employment income, pension income (T4A) including RSP, RIF, Old Age Security

Investments:
T3 and T5 slips including: Capital Gain Losses and reporting packages from your broker. Click below to learn more about investment income reporting.

Rental Income
2022-T776-Rental-Statement *Note: Use a separate template for each property.

Business / Professional Income

Self-Employment Schedule for Business (T2125)

Self-Employment Schedule for Physicians (T2125)

Self-Employment Schedule for Dentists (T2125)

Deductions
Medical – click below for full details.

Donations

• RRSP
• Childcare
• Tuition

For other deductions, see the GGFL Personal Tax Organizer.

When your return is complete and ready to be signed, we will send you an email from adobesign@adobesign.com. AdobeSign 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.

If you are new to ShareFile or need a refresher please view our guide and short training videos.

If we are preparing tax returns for you and members of your family please be sure to provide the information in separate data files and clearly label each file with the family member’s name.

To simplify any medical claims, 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 2022. We do not need 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 payment

Other

• Request a detailed prescription summary for 2022 from your Pharmacy. If you provide a summary, do not send the individual receipts.
• Include any travel health insurance premiums paid
• 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.

If you own investments that are not RRSPs, RRIFs, TFSAs and RESPs, please obtain the 2022 Tax Reporting package for each account from your investment advisor including:

• Realized Capital Gain/Loss Report in Canadian dollars
• T1135 Foreign Property report
• Investment management fees (for non-registered investment accounts only)

If you live in Quebec and receive income from a trust that is located outside of Quebec please contact our office.

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 the following:

• T1135 Foreign Property report for 2022 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 at December 31, 2022
• Gross income earned in 2022
• Capital gain or loss on disposition in 2022

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).

We understand that for some of our clients providing GGFL with paper documents is the preferred or only solution.

Our team will scan and save all documents necessary to prepare the tax return in an electronic format. Our data retention policy of 7 years meets CRA requirements. After six months, we will shred all paper documents. Upon request, we can provide you with the electronic files. If you have any questions please speak with your partner.

• Must be an accurate reproduction with the intention of it taking the place of the paper document.
• Must provide the same information as the paper document.
• Significant details of the image cannot be obscured because of limitations in resolution, tonality, or hue.
• For all electronic documents, please double check that the image is easily read and includes all relevant elements of the original document. Documents that are hard to read or cropped will delay your tax file preparation. The best file format for our various tax systems is an Adobe PDF document.

Click here for more information on what CRA considers to be an acceptable format for your documentation.