2019 Tax Season Milestones

January:  Speak to tax adviser and HR department to reduce tax withholding at source: file TD1 Tax Credits Return and T1213 Request to Reduce Tax Withholdings at Source.  Investors: Make TFSA deposit for each adult in family; replenish withdrawals from last year.  Jan 16: Defer stock option benefits annually if exercised before Mar. 5, 2010.  Jan 30: Interest payment on inter -spousal due.  Jan 31: T10 PAR slip due to restore RRSP room in case of exit from DPSP or RPP

February:

 Feb 28: T4, T5 slips due; receive enrollment notice in courses if RRSP LLP withdrawal made in prior year

 Assemble self-reported income, income from tips, casual employment, no-slip interest income, receipts for discretionary deductions and credits

March:

 March 1: RRSP contribution deadline

 March 15: Quarterly tax instalment deadline

 March 31: T3 slips out, File Tl-OVP for Excess RRSP, PRPP, SPP Contributions. April 1 In 2019.

April:

 April 5: GST/HST Credit payment, WITB Advance

 April 15 US tax filing deadline. US persons in Canada Tax filing, Form 8938, 4868

 April 30 Tl individual tax filing deadline

 Form T1135, if not filing a tax return

 T1ADJ - Late elections for pension income splitting for 2014 expire April 30, 2018

May:

 Review: Wills and POAs, estate plans with insurance

 File Objections/appeals on tax reassessments

June:  June 15: Tl proprietorship filing deadline, quarterly tax instalment remittance, Closer Connection Exception Statement for Aliens (IRS Form 8840); extension to file US tax return* June 17 in 2019  June 30: File TFSA Return July 2 in 2019  June 30 - Form RC243 TFSA Return and RC243-Schedule A - Excess TFSA Amounts, RC312E -Reportable Transactions Return - July 2 in 2019

July:  Investors: Do a Portfolio review  Businesses: business valuation, consider crystallizing CGE  Pre-Retirement Review: Postponement of OAS or CPP  Retirees: Review RRSP meltdown strategies  Investors: Review need to make quarterly instalments  Education funding: Invest CCB, RESP  Real Estate: Cottage/Home Valuations August:  Debt Management: Back to school expense planning review  Audit Risk Management: Correct tax filing errors and omissions 2009 - 2018  File for CWB prepayment September:  Sept. 15: Quarterly tax instalment due (September 16 in 2019)  Sept. 20: CCB payment  Sept. 30: Cash Flow & Debt Management Review; trace tax deductible interest to source of borrowing  Health Risk Management Plan: Insurance Needs Review October:  Oct. 1: Build or buy home if Home Buyer Plan withdrawal made from RRSP last year  Oct. 15 US Tax filing (if Form 4868 extension is filed)  Review Attribution Rules and Tax on Split Income  Income Splitting Plan: Create spousal investment loans, make Spousal RRSP contributions  Tax Loss Harvesting Plan: To offset capital gains income  Donations Plan: Review transfers of securities to charity to avoid capital gains tax and receive donation credit November:  Review portfolio to re-balance investments  Education Plan: Maximize contributions to RESP December:  Dec. 15/31 final tax installment remittances (Dec. 16, 2019)  Dec. 27: Final Tax loss selling, transfer of shares to charity  Dec. 31: Final opportunity to adjust prior filed return (2009), last chance to make donations.  Dec. 31: last day to contribute to own RRSP if age 71, make RESP, RDSP contributions, apply for matching grants and bonds.