T1 – How You Should Prepare: A Complete Guide for Canadians

Every spring, millions of Canadians begin thinking about their personal income tax return, also known as the T1 Income Tax and Benefit Return. While it’s easy to procrastinate until the deadline, the best tax season strategy is preparation. With the right documents, a clear checklist, and a bit of planning, you can reduce stress, avoid mistakes, and potentially maximize your refund.

At DDL & Co., we help individuals and families make tax season smoother with proactive planning and accurate preparation. Whether you’re filing for the first time or are a seasoned taxpayer, this guide will walk you through how to prepare for your T1 return with confidence. If you’re also interested in professional support, we’d love to help you learn more about tax planning and preparation.

Cover the Basics

Understand What the T1 Return Is and Why It Matters

The T1 General is the standard form Canadians use to file their personal income tax return each year. It reports your total income, deductions, credits, and calculates your tax payable (or refund). Filing this return is not just a compliance requirement, it’s also how you claim government benefits and credits like the GST/HST credit, Canada Child Benefit, and other tax-linked programs.

Even if you didn’t earn much income this year, filing your return keeps your benefit entitlements and Carryforward amounts current with the Canada Revenue Agency (CRA).

Know the Key Deadlines

The CRA sets strict deadlines every tax season:

• April 30 – Deadline to file your T1 return and pay any balance owing for most individuals.
• June 15 – Extended filing deadline for self-employed individuals and their spouses/common-law partners (but any balance owing is still due April 30).

Marking these dates on your calendar early helps you avoid late-filing penalties and interest.

Start Gathering the Right Documents

Preparation starts with organization. Before you even open your tax software or appointment book, collect these core pieces of paperwork:

Personal & Identification Information

• Social Insurance Number (SIN) and your spouse’s/common-law partner’s SIN
• Current mailing address and contact info

Income Slips
These are issued by employers, financial institutions, benefit issuers, etc. Common slips include:

• T4 – employment income
• T4A – pensions, retirement, or other income
• T5 – investment income
• T3 – trust income
• T5007 – workers’ compensation or social assistance

Most slips
should arrive by the end of February, though some (like T3 slips) may come later in March.

Receipts for Deductions & Credits
These reduce your taxes or increase your refund:

• RRSP and First Home Savings Account (FHSA) contribution receipts
• Medical expense receipts
• Charitable donation receipts
• Tuition and education amounts (e.g., T2202)
• Childcare expense receipts

Previous Year Tax Materials

• Last year’s Notice of Assessment – an essential reference for many carryforward amounts
• Previous tax return, if applicable

Having this documentation organized before you begin will save time and reduce errors.

Keep Your Records – Even After Filing

When you file, the CRA doesn’t require you to send all your receipts (especially for electronic filings). However, you must keep all supporting documents for at least six years, because the CRA can ask to see them later for review or audit.

This means storing your slips, receipts, statements, and tax returns (including Notices of Assessment) in a secure place, either digital or paper, that you can access throughout the retention period.

Choose How You’ll File

There are a few options for submitting your T1 return:

Online filing
Use a CRA-certified electronic filing service to file your return online using approved tax software.

Paper Filing
You can still file a traditional paper return by mailing your T1 package to the CRA. This method takes longer to process, but is useful if you prefer paper.

Tax Professional / EFILE
If your situation is complex (e.g., self-employment, rental income, or investments), a professional tax preparer can file electronically on your behalf using CRA’s EFILE system.

Whether you file yourself or choose professional help, making a plan early simplifies the process and reduces surprises.

Don’t Wait for the Last Minute

Tax season is predictable, and preparation is the best way to make it productive. Starting early lets you:

• Organize documents systematically
• Identify any missing slips or information
• Maximize your eligible deductions and credits
• Avoid late penalties and interest

If you’re feeling overwhelmed, remember you don’t have to go it alone. Our team at DDL & Co. specializes in personalized tax planning and preparation tailored to Canadians.

Ready to take the stress out of tax season?
Start preparing now, and you’ll thank yourself later.