It's Tax Time

The team at SB Partners is ready to help you navigate tax season smoothly ensuring that you get every deduction you are entitled to.

Please download the Instruction Letter and Checklist and the other supporting schedules if they are applicable, to get ready to prepare your taxes for 2023. It’s very important to get organized.

Click to download the forms below:

• Instruction Letter and Checklist
• Self Employment Business Income
• Employment Expenses
• Rental Property Income
• Sale of Real Estate
• Tax Credits
• Personal Income Tax Questionnaire for a Deceased Taxpayer

Please note: As of December 31^st, 2023 more trusts (and estates) are required to file tax returns. These changes will catch out many individuals and businesses that may not be aware of their trust-like relationships, exposing them to potential penalties and other consequences for non-compliance. The rules became effective in 2023, with a filing deadline of April 2^nd, 2024. Read more to determine if these changes are relevant to you.

_______

SB Partners will donate to Woodview Mental Health & Autism Services for each family who brings in their tax information before March 18^th, 2024. Completion of your return by April 30^th is guaranteed if all information is received by April 8^th, 2024.

_______

Client Portal

If you are not currently using our Client Web Portal, we encourage you to consider this option as it is a secure, private, and confidential way to provide your information and for SB to deliver your tax return to you. If you would prefer to submit your documents electronically through our Portal, please contact your Partner Administrative Assistant or contact us at (905) 632-5978 for assistance.

We hope that these instructions and tools are helpful. If you have any questions, please call our office at (289) 807-1526.

_______

Tips to Make Tax Season Simpler

1. Keep all your tax receipts in one place throughout the year – this makes it so much easier to find come tax season.
2. Remove receipts, invoices, letters, etc. from envelopes before submitting them. This saves us time, and you money!
3. Did you know that you can combine all your documents into one PDF before uploading them to our portal?
4. It is not safe to send documents to us via email, this is why we use a portal.
5. You don’t need to send us every medical receipt, all we need is a summary document of total medical expenses. You need to keep the invoices in case you are audited. Please use the schedules here Personal Tax Resources | SB Partners for your convenience.
6. If you have changed addresses, you must let SB Partners and the CRA know. We cannot notify them that you have moved!
7. Did you know we cannot submit your return without your signature? Electronic signatures are accepted by the CRA.
8. Avoid missing communications from the CRA if you have a My Account by regularly checking to see if you have received NOA or review letters. The default setting on these accounts is not to send letters by mail. If you are registered for My Account with CRA and opted for online mail, then you will not receive a copy of your NOA in the mail. You will need to download them online through your My Account. If you miss a communication in your My Account, the next time you hear from the CRA will be to tell you your T1 has been reassessed.