What is a T1 general form?
Updated on December 31, 2024
Deborshi Choudhury, an IRS Enrolled Agent with 17 years of expat tax experience, specializes in U.S. tax preparation, tax planning, and tax advice for U.S. citizens and Green Card holders living and working in the UAE and Canada.
*30-minutes US$347.
Table of Contents
What is a T1 general form?
The T1 General form is a personal tax form filed with the Canada Revenue Agency (CRA) as an annual income tax return. Individuals and business owners such as proprietors and partners use it to report their annual income.
It is a single, general form that can be used for all types of income, such as employment income, investment income, business (proprietorship or partnership) income, and capital gains.
Why do I need a T1 general form?
If you have taxable income in Canada, you need to file a T1 form regardless of your residency status or source of income. This is to report your income, claim deductions, and pay taxes owed.
Additionally, Individuals who are eligible for refundable credits like the Canada Child Benefit will need to file a T1 general form if they wish to claim it, even if they have no taxable income.
What types of income should be reported on the T1 general form?
Here’s what you can report to the T1 form based on your status:
- Canadian citizens or residents: Employment income and other income sources, like investment income, pension income, or capital gains.
- Non-residents: Canadian income through employment or investment in Canadian properties or the Canadian market.
- Self-employed individuals: Business income and expenses.
- Deceased individuals: income earned up to the date of death reported by a legal representative.
Do corporations need to file a T1 general form?
No, a different form will be needed for corporations in Canada, which is a T2 Corporation Income Tax Return.
What information do I need to complete a T1 general form?
Here is a list of details you need to gather to prepare a T1 general form:
- Identification: Your name, address, Social Insurance Number (SIN), and marital status. You also need to disclose your dependents’ information, if applicable.
- Total income: You must declare all your income sources. These may include one or more sources like employment or self-employment income, foreign income, and benefits, if applicable.
- Net income: This is your net income after deductions. You take out all of your allowable expenses from your total income.
- Taxable income: The taxable income is the income left after taking out expenses. Income thus calculated is taxed per your tax rates for the particular year.
- Refund or balance owing: Based on calculations, if you are eligible for a refund, you may mention it in this section. For refunds, you enter a negative amount value; for balance owing, you say a positive amount.
Additionally, the T1 General Form has sections that require entries from other CRA tax forms, but it does not require supporting documents.
Expat US Tax is an expert in US-Canada taxation. Speak with our accountants today.
Where can I get a T1 general form?
You can get a T1 general form online from the CRA website alongside other documents. Make sure to select your province to obtain the correct form.
You can also order a hard copy of the form to be mailed to you on the CRA website or CRA’s forms and publications service.
Can I obtain a copy of the T1 general for the previous year?
Yes, you can just log into your CRA My Account to find your previous year’s T1 General. The CRA website maintains records of your current year and past 11-year T1 forms.
For any record further in the past, you will need to call CRA officers and request your copy.
Where can I send my completed T1 general form?
CRA has made it convenient for you to send your T1 general form online using the NETFILE option. It is the most convenient and rapid method.
If you wish to file it offline, you must send it to your nearest office for processing. The mailing address will depend on your location and residency status. You can check the CRA website for more information on where to mail it.
If you’re working with a tax professional, they can file your return on your behalf using EFILE, a service for authorized tax preparers.
I’ve made a mistake on the T1 form. Can I amend it?
Yes, you can request to amend your T1 general form to the CRA. You will need to receive your Notice of Assessment (NOA) first before you begin to amend your form.
You can then amend it online through your account on the CRA website. You can access it on your CRA account’s “Change My Return” tab.
If you want to amend it by mail, you will need to obtain and complete a T1 Adjustment Request Form (T1-ADJ) and then send it to the nearest office. You need to attach supporting documents for the amendment, including the original forms.
When can I submit a T1 general form?
The T1 General Return is due on April 30th yearly, but you can start submitting it in February of the year following the tax year.
If you are self-employed, you have until June 15 to file, but any taxes owed are still due by April 30.
The due date for federal taxes in Canada depends on the type of return you are filing and how many days remain in the year.
