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Form T1 GENERAL Income Tax and Benefit Return - Canada
What Is T1 General Form?
T1 General Form, Income Tax and Benefit Return , is an official statement Canadian residents use to report their income tax. Use this document to list all sources of your personal income - employment income, dividends, capital gains, etc. - throughout the year of the report. You must compute your taxes not only to schedule tax payments and find out your tax liability, but also to request refunds in case there was an overpayment of taxes and claim benefits and credits you are eligible for - the tax authorities may not collect taxes from you but will offer you financial assistance using the information you submit.
Alternate Names:
- Canada Tax Return Form;
- T1 Tax Form.
This form was released by the Canadian Revenue Agency (CRA). The latest version of the document can be found below, with all previous editions obsolete. A sample 2017 version of the T1 General Form can be downloaded through the link below. The current version of the form can only be accessed via the official CRA website through this link.
How to Fill Out T1 General Form?
Follow these steps to prepare the Canada Tax Return Form:
- State your full name, social insurance number, date of birth, and preferred languages. Write down your mailing address and email address. Describe your residence and record the date you became a Canadian resident if that happened in the reporting year. Indicate your marital status and provide your spouse's personal information if necessary. If you are writing this return on behalf of the deceased individual, you have to record their details instead and add their date of death.
- Check the appropriate boxes to confirm you are a Canadian citizen, you want to provide the Elections Canada records with your relevant information, you have income that can qualify for tax exemption in accordance with the Indian Act, or you have a foreign property of value more than $100,000.
- Provide a breakdown of your income. You have to state all the sources of income you have earned in the taxable year - wages, retirement and child care benefits, employment insurance and social assistance payments, rental income, partnership dividends, scholarships and grants, self-employment income. Add all the amounts to figure out your total income.
- Calculate the adjustments - they include child care expenses, business investment losses, development expenses, pension deductions - and compute the net income by deducting the adjustments from the total income.
- Find out the taxable income - net income minus all the deductions listed on the fifth page of the form. Calculate the federal tax in several steps - compute the federal non-refundable tax credits, the federal tax applied to the income, and net federal tax. Figure out the provincial tax and use the result to find out your potential eligibility for a refund or a responsibility to pay money to the tax authorities.
- Confirm the statements in the document are true and complete, sign and date the tax return, and add your telephone number. If the form was prepared by someone else, this person must indicate their name as well.
Download Form T1 GENERAL Income Tax and Benefit Return - Canada
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