Income and deductions
Mandatory inventory adjustments only apply to this type of inventory
Inventory that has been purchased
This is an indicator that a surgery is cosmetic and cannot be claimed as a medical expense
GST was charged on the procedure
Using check-marks in Profile should be done at this stage in the life of a T1
The review stage
When doing a farm, print the 5 year comparative of these schedules before entering information
1163 or 2042
Its better to reduce RRSP contributions than to include this in income because RRSP contribution room is preserved
Home Buyers Plan repayment
You may have to override the federal and provincial schedules to claim this credit on the "right" parent
Disability tax credit
Looking at these on the prior year's lead sheet can be essential to completing the current year return correctly
Special notes for next year
This action is required in Profile if spouses live in different provinces
Uncouple the return
Use the client import tool to download these, but check the client summary to make sure they imported correctly
Instalments
These types of credits can be claimed for either spouse but there are no carry forward provisions
Political contributions
Make sure we fill out these if a balance is owing on the tax return. Use a pen if you're the reviewer
Remittance advices
When looking at Tslips, this bank often appears as 'Government of Alberta'
ATB Financial
If these are received by the tax payer, make sure you indicate if the taxpayer was a full time or part time student
Scholarships
Donations to these are deductible charitable donations even those they do not have registered charity numbers
Municipalities
Check these to the client summary and the latest NOA. Remember that losses used in 2018 won't be in the number on the 2018 NOA.
Capital losses carried forward
If a client is registered for GST, look for these forms to include in the final package
GST returns and remittance forms
Form T1158 is used to register an agreement with CRA in order to start making this type of claim
Spousal support claim
Tax owing for a family can be reduced by looking at federal and provincial tax credits to ensure these are split efficiently
Charitable donations receipts
Missing information can be caught by looking at this schedule before completing a T1
Comparative
The new home GST rebate starts to be ground down for homes over this amount. At $450k it hits zero.
$350,000