T1 - Filing Personal Tax Return
T1 - Filing Personal Tax Return
Full Curriculum
Full Curriculum
Standard Plan
Standard Plan
Introduction
Introduction
Course structure, goals, and introduction with the teachers.
Course structure, goals, and introduction with the teachers.
General
General
Basics of filing a tax return: from CRA system registration to income, tax, and credit calculations.
Basics of filing a tax return: from CRA system registration to income, tax, and credit calculations.
Work with tax software
Work with tax software
Practical skills using tax software (ProTax), filling out forms, and integrating data for returns.
Practical skills using tax software (ProTax), filling out forms, and integrating data for returns.
Newcomers
Newcomers
Tax requirements for newcomers: residency status, income for non-residents and Canadian citizens.
Tax requirements for newcomers: residency status, income for non-residents and Canadian citizens.
Employment income
Employment income
Main types of income in Canada: employment income, forms T4, T4A, RL-1, T2200, T777, TL-2.
Main types of income in Canada: employment income, forms T4, T4A, RL-1, T2200, T777, TL-2.
Other income
Other income
Additional income categories such as T5008, RRSP, and RESP, and their impact on the tax return.
Additional income categories such as T5008, RRSP, and RESP, and their impact on the tax return.
Pension income
Pension income
Declaring pension income, including T4A(P), OAS, and other reports.
Declaring pension income, including T4A(P), OAS, and other reports.
Deductions
Deductions
Basics – Key tax deductions, including Canada Pension Plan (CPP), workers’ compensation, and other social benefits.
Basics – Key tax deductions, including Canada Pension Plan (CPP), workers’ compensation, and other social benefits.
Saving accounts
Saving accounts
Benefits of savings accounts like RRSP, FHSA, TFSA, and RESP, and how to use them effectively.
Benefits of savings accounts like RRSP, FHSA, TFSA, and RESP, and how to use them effectively.
Advanced Plan
Advanced Plan
Everything in Standard plan plus….
Everything in Standard plan plus….
Foreign property
Foreign property
Declaring foreign property, required forms, and examples of how to fill them out.
Declaring foreign property, required forms, and examples of how to fill them out.
Principal residence
Principal residence
Declaring proceeds from the sale of a principal residence.
Declaring proceeds from the sale of a principal residence.
Moving expenses
Moving expenses
Tax deductions for moving expenses, including the necessary forms.
Tax deductions for moving expenses, including the necessary forms.
Northern Residents deduction
Northern Residents deduction
Applying deductions for expenses in remote areas of Canada.
Applying deductions for expenses in remote areas of Canada.
Final tax return
Final tax return
Final tax return: deadlines, forms, and estate matters.
Final tax return: deadlines, forms, and estate matters.
Investment income
Investment income
Declaring investment income, including dividends, interest, and capital gains.
Declaring investment income, including dividends, interest, and capital gains.
Foreign income
Foreign income
Reporting rules for foreign income, currency conversions, and required forms.
Reporting rules for foreign income, currency conversions, and required forms.
Accounting and bookkeeping
Accounting and bookkeeping
Recordkeeping, preparing financial statements, and using bookkeeping templates.
Recordkeeping, preparing financial statements, and using bookkeeping templates.
Rental income
Rental income
Declaring rental property income, expense tracking, and specific tax deductions.
Declaring rental property income, expense tracking, and specific tax deductions.
Self-employed
Self-employed
Overview of reporting for self-employed individuals: types of income, expenses, and special tax forms.
Overview of reporting for self-employed individuals: types of income, expenses, and special tax forms.
Sales tax overview
Sales tax overview
Overview of sales taxes, including GST, HST, and provincial taxes.
Overview of sales taxes, including GST, HST, and provincial taxes.
Pro Plan
Pro Plan
Everything in Standard and Advanced plan plus….
Everything in Standard and Advanced plan plus….
Registrations
Registrations
How to properly register a business, GST/HST numbers, and set up tax status to meet CRA requirements.
How to properly register a business, GST/HST numbers, and set up tax status to meet CRA requirements.
Advanced Filing software
Advanced Filing software
Working with professional tax filing software and automating tax processes.
Working with professional tax filing software and automating tax processes.
Client management
Client management
Effective methods for managing client data, communication, and workflow organization.
Effective methods for managing client data, communication, and workflow organization.
Client Engagement
Client Engagement
How to properly draft service agreements, structure tasks, and maintain transparency with clients.
How to properly draft service agreements, structure tasks, and maintain transparency with clients.
Engagement with CRA
Engagement with CRA
Skills for interacting with CRA: responding to inquiries, resolving tax issues, and guiding through audits.
Skills for interacting with CRA: responding to inquiries, resolving tax issues, and guiding through audits.