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Welcome to Stark & Marsh’s Personal Income Tax Resource Center!
We hope to make the 2020 Tax Year the least taxing of them all. On this page you will find a collection of helpful information to assist you as you prepare for the upcoming personal income tax season.
T1 Checklist
Medical Travel Worksheet
Client Portal
Online Bill Payments
Deadline to File Personal Tax Return
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EXTERNAL RESOURCES
Frequently Asked Questions
What are the meal and travel rates for medical travel and moving?
You can either use actual meal and gas expenses (in this case you must keep receipts) or use a flat rate (in this case you do not have to keep receipts, but must be able to provide some sort of documentation to support the trip). The flat rate for trips that originate in Saskatchewan is $0.49/km and meals up to $23 per meal with a maximum of $69 per person per day. You should be aware that to claim travel expenses you must have gone at least 40 km one way and to claim meals you must have travelled 80 km one way.
I use my personal vehicle for business purposes. Can I be paid a tax-free allowance?
Yes. You can be paid an allowance up to $0.59 per kilometre on the first 5,000 km and $0.52 per kilometre after 5,000 km. To claim an allowance, you must keep a log book to record personal and business kilometres driven. For more information, visit:
As an employee, I am required to pay certain expenses for my job. Can I claim these expenses on my tax return?
Maybe. Generally, commission sales people can claim their employment expenses if they were required to pay for them. For other types of employees, if it is stated in your contract that you must provide your own vehicle or pay for some of the work-related expenses, it may be possible. In all cases, a form T2200 Declaration of Conditions of Employment must be filled out by your employer. For more information on employment expenses, please speak to one of our professionals. Another point of interest is that you may be able to get back some of the GST you paid on employment expenses. If you are an employee of a GST registrant and you are deducting expenses from your employment income on your tax return, you can complete form GST370 and include with your return, and you may get a rebate for the GST paid on your expenses.
For 2020 employees may use a new and simplified form T777S, this is for employees that were working at home due to COVID-19. For more information on home office expenses due to COVID-19, please speak to one of our professionals or visit:
https://www.canada.ca/en/revenue-agency/services/forms-publications/forms/t777s.html
How long do I have to keep my tax records?
Six years.
I received a notice from the Canada Revenue Agency (CRA) that I may sign up for Direct Deposit. How do I do this and what is the deadline to sign up?
To sign up for Direct Deposit, simply leave a void cheque with our staff and we will take care of it.
What is the deadline to file my tax return?
The deadline to file is April 30th for most people and June 15th if you or your spouse/common-law partner have self-employment income. Please be aware that any tax due for self-employed individuals is April 30th. As such, it is often a good idea to file by April 30th. Please have your records to us by April 15th, so we have enough time to prepare your tax return and file it on time.
Do I need to report the sale of my principal residence?
Starting with the 2016 tax year, individuals who sell their principal residence will have to report the sale on Schedule 3, Capital Gains of the T1 Income Tax and Benefit Return. Reporting will be required for sales that occur on or after January 1, 2016.
What is form T183 and why does each member of my family have to sign one?
Form T183 states how much tax you owe/are being refunded and authorizes us to e-file your tax return on your behalf. Each person must sign their own copy as each individual is responsible for their own return.
Why does your T183 Form need to be signed each year?
The T183 form provides your approval for Stark & Marsh to e-file your personal tax return. Canada Revenue Agency requires that you sign the T183 form to authorize that you agree with the return before it is e-filed. Once your return has been completed, a member of the Stark & Marsh team will contact you to make arrangements to sign the T183 form and continue the process to get your T1 e-filed in a timely manner.
Questions?
Contact your trusted Stark & Marsh Advisor or an office close to you.