January saw the release of the highly anticipated and totally redesigned T1 Personal Income Tax return that we’ll be using to file our taxes for the 2019 tax year.
Lest it catch you by surprise, here’s a primer on what’s changed on the 2019 T1 return.
THE RETURN
As the Canada Revenue Agency put it, “Your income tax package has a new look.” No kidding! Some of the changes include the use of plain language, “where possible,” an increased font size and more white space.
The new tax return (ignoring any schedules) has doubled in size to eight pages for 2019 from four pages in prior years. While you might think that this is solely due to the ever-increasing complexity of our tax code, it’s actually because the CRA has decided to include the calculation of federal tax itself as part of the return. (It used to be calculated separately on Schedule 1, which has been retired, along with its companion worksheet).
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