2025 Tax Document Checklist for IT Contractors and Tech Consultants

Filing a T1 return as an IT contractor or tech consultant involves more than T4A slips and a bank statement. This checklist covers the documents needed to prepare your 2025 return accurately, including the T2125 self-employment schedule, GST/HST reconciliation, and any corporate return if incorporated.

Income Documents

• All T4A slips (one per client that paid you CAD $500 or more)
• Invoices and payment records for any clients who did not issue T4A slips
• Foreign income records: USD or other currency amounts received from U.S. or other non-Canadian clients (include bank statements showing deposits and exchange rates used)
• Any T4 slips from salaried positions held during the year
• Investment income slips (T5, T3) if applicable

Cross-check: Total T4A amounts plus direct invoices should match total business revenue reported on your T2125. A discrepancy between T4A amounts and your books is a common source of CRA matching reviews.

Business Expense Documents

Receipts and statements for all business expenses claimed on T2125:

• Software and subscriptions: Cloud services, development tools, productivity software, domain and hosting fees
• Professional fees: Accountant, lawyer, professional association dues, continuing education
• Home office: Rent or mortgage interest, property taxes, heat, electricity, and internet (see home office calculation below)
• Vehicle: All vehicle expenses if a business-use calculation applies (see mileage log below)
• Equipment: Computers, monitors, peripherals purchased during the year (eligible for immediate expensing or CCA depending on cost and election)
• Phone: Business-use portion of monthly phone plan
• Bank charges: Monthly fees and transaction charges on business accounts
• Advertising: Website costs, LinkedIn Premium if business-use, any paid promotion

Home Office Calculation

• Total square footage of your home (including all rooms)
• Square footage of dedicated workspace
• Annual totals for rent (or mortgage interest + property taxes + insurance) and utilities

The workspace must be used exclusively for business. A dedicated room is required. Prepare a simple sketch or note the room dimensions.

Mileage Log (If Claiming Vehicle Expenses)

• Total kilometres driven in 2025 (January 1 odometer to December 31 odometer)
• Total business kilometres with a log showing: date, destination, purpose, and km per trip
• All vehicle expense receipts: fuel, insurance, maintenance, lease payments, or vehicle purchase details if purchased during the year

GST/HST Documents

If registered for GST/HST:

• Total GST/HST collected from all clients (should reconcile to invoices)
• Input tax credit receipts: GST/HST paid on all eligible business expenses
• Prior GST/HST return filings and CRA correspondence

If not yet registered: Total 2025 taxable supplies (your gross revenue). If you exceeded CAD $30,000 in any calendar quarter or across four consecutive quarters, registration may have been required during the year.

Prior Year Documents

• 2024 Notice of Assessment
• Carry-forward amounts: business losses, RRSP contribution room, home office expense carry-forwards
• Capital cost allowance (CCA) schedules from prior year T2125 if you have depreciable property

Corporate Return Documents (If Incorporated)

If you operate through a corporation, your personal T1 return and the T2 corporate return require coordination:

• Corporate bank statements and bookkeeping records
• Salary and dividend amounts drawn from the corporation (confirmed against T4 issued by corporation and dividend resolutions)
• Corporate financial statements
• Shareholder loan balance at year-end

RRSP and Other Personal Items

• RRSP contribution receipts (contributions made January 1 to March 1, 2026 can apply to 2025)
• Charitable donation receipts
• Medical expense receipts (total annual family medical expenses)
• Prior year RRSP carry-forward room (on 2024 Notice of Assessment)

Timeline