2021 Personal Tax Season

We hope you are all doing well and managing during through another year of the pandemic.  As we are, hopefully, nearing the end of the pandemic, we remind you that personal tax season is around the corner.  There are a few things that we need you to do prior to sending in your information.

  • Complete and sign our Engagement Letter,
  • Complete our Tax Checklist,
  • Complete the Foreign Reporting Checklist if you have foreign assets.

Visit Personal Taxes to access the documents noted above and some useful newsletters on various topics including personal tax information.

We encourage everyone to provide us with their tax information as soon as possible so that we have adequate time to process the information and review your return for potential tax planning opportunities.  Please note that we cannot guarantee timely completion of your tax returns unless we receive all of your information by April 4, 2022, at the latest.  If your personal tax situation has changed significantly this year and you would like to review your information with us, please call to make an appointment for a phone or virtual meeting with one of our senior staff.

We highly recommend the use of our firm’s client portal to send your information to us.  The portal is secured with an SSL certificate and is housed on our premises.  If you don’t already have a portal setup, please contact Nicole, our Client Relations Coordinator, to have one set up for you.  If it’s not possible for you to send your information to us either by our client portal, by email, courier or Xpresspost (which provides a tracking number), please call ahead to let us know when you are planning to come so we know when to expect you.

The deadline for RRSP contributions is March 1, 2022.  If you need assistance with how much to contribute to your RRSP, please contact us.

The Tax-Free Savings Account (TFSA) contribution limit for 2022 is $6,000.  The benefit of a TFSA is that the income earned in this account is not subject to tax, assuming that you are not a U.S. citizen.  Please contact us if you would like more information on these accounts.

If you have not reviewed your will for a long time or if you have had a significant change in your circumstances, now is a good time to provide us with a copy of your will so that we can review it with you and provide you with any estate planning suggestions.

We appreciate your continued business and look forward to working with you in 2022.