Final Tax Return Information Required:
- Full Name:
- Date of Birth:
- Martial Status:
- Date of Death:
- Copy of Death Certificate:
- SIN #:
- Name of Legal Representative:
- Address of Legal Representative:
- SIN# of Legal Representative:
- Phone Number of Legal Representative:
- Copy of Appointment of Trustee/Executor/Representative
- Register as Representative for Deceased Person (Form RC552 E)
- List of Sources of Income:
- T4A (P) Pension Income
- T4A (OAS) Old Age Security
- Other Pensions
- T5 - Statement of Investment Income - RRIF
- T5008 - Statement of Securities Transactions
- Other
- Deduction & Credits:
- Medical Receipts Home Accessibility Expenses (if applicable)
- Charitable Donations (if applicable)
- Final Tax Return
- income earned up to the date of death
- increases in FMV (fair market value ) of property, investments & belongings
- all credits & deductions the person is eligible for
- Optional T1 - Return for Rights or Things
- for income received after death
- can include income that would otherwise be reported on final return
- may reduce or eliminate tax
- only allowed if income from eligible sources & time periods
- report all income that is eligible here instead of Final return
- T3 Trust Income Tax & Information Return
- Used when the belongings, property, assets & liabilities form their estate
- Income earned by an estate after the date of death is reported for subsequent years until the estate's property is fully distributed to beneficiaries.
- An estate is considered to be a testamentary trust & may qualify for GRE Graduated Rate Estate for tax purposes.
- Due Dates
- CRA will charge a late-filing penalty if there is a balance owing
- Final Tax Return due April 30th
- (if death between Jan 1 - Oct 31) due 6 months following the date of death
- Optional T1 - Return for Rights or Things
- one year after the date of death
- 90 days after NOA or Re-assessed NOA
- IF Balance OWING due same date as the Final Return (generally April 30)
- Clearance Certificate Form TX19 Asking for a Clearance Certificate
- before distributing assets of the estate
- all tax returns must be filed & related NOA (notice of assessment) received
- have paid or secured all income taxes, CPP, EI & any related interest & penalties
- if the person had a GST/HST number Form GST352 is also required
- If a Corporation other information is also required.
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