Welcome to your hub of key information for the 2020 tax year, where we’ll update you with new information and dates as soon as we receive them.

Updated October 23, 2020

Important Dates for the 2020 Tax Year

• December 31, 2020 – RESP contribution deadline to be eligible for any applicable grants for 2020
• March 1, 2021 – Deadline to contribute to your RRSP for the 2020 tax year
• April 30, 2021 – Last day to file your 2020 personal income tax and benefit return without penalty
• June 15, 2021 – Last day to file your 2020 personal income tax and benefit return without penalty if you are self-employed

Contribution Receipts and Tax Documents – Approximate Dates for Online Access and Mail-Outs

For information from the CRA website on how to use and understand each document, follow the link on each document type (links open in new windows).

TFSA Contribution Limits

• 2009 TFSA contribution limit – $5,000
• 2010 TFSA contribution limit – $5,000
• 2011 TFSA contribution limit – $5,000
• 2012 TFSA contribution limit – $5,000
• 2013 TFSA contribution limit – $5,500
• 2014 TFSA contribution limit – $5,500
• 2015 TFSA contribution limit – $10,000
• 2016 TFSA contribution limit – $5,500
• 2017 TFSA contribution limit – $5,500
• 2018 TFSA contribution limit – $5,500
• 2019 TFSA contribution limit – $6,000
• 2020 TFSA contribution limit – $6,000
• 2021 TFSA contribution limit – $_________
• TOTAL CURRENT AVAILABLE CONTRIBUTION $69,500 (+ 2021 number)

Access Your Tax Documents Online

If you’re looking for a tax slip or need a replacement copy, you can sign up for e-delivery of your tax documents issued by iA Wealth. These are the same tax documents you’d receive in the mail, but you can instantly view and download them (or print, if you need to).  Please bear in mind, if you did not sign up for this option prior to your tax documents being issued for the 2020 year, you will not have access to documents until the 2021 tax year.  Digital access to your tax documents is particularly handy if you move during the tax year.  Please note, you are able to update your address until January 31 in order to be able to receive your tax receipts to your new address.  If you do not make this change prior to January 31, your tax receipts will be sent to your old address!

How to Switch to e-Delivery

1. From the My Portfolio menu, go to Preferences and Delivery Method
2. In the “Delivery Method” section, select “Online” for any of the three available, or you can select the “Online” button to select this option for all
3. Select “Save”
4. We can also change this for you at our office upon request.

Once you switch, you’ll have access to a PDF archive of your tax documents, beginning with the 2018 tax season, and new ones as they become available.

We’ll let you know when a new tax document is available by email if you have chosen to receive eDocuments emails.

Online Contributions

Remember – you can make online contributions to your iA Wealth RRSP, TFSA and RESP, as well as deposit to your non-registered accounts, any time from your bank account.  Please see below for instructions on this.

1. Log into your online banking account
2. Go to Add Payee or Add Bill
3. Search Hollis Wealth
4. Select Hollis Wealth –Industrial Alliance Securities (NOTE: do NOT use HollisWealth Advisory Services)
5. Add your account number with no dashes
6. Enter the dollar amount you wish to transfer
7. Let your advisor know so we can watch for it!

Frequently Asked Questions

1. I’m ready to file my taxes. Why are my T3s late?
   
   Delivery of T3/RL-16 and T5013/RL-15 packages depends on when the information is provided to us by external issuers. The CRA reporting deadline for issuers to provide their tax information to financial intermediaries (such as RBC Direct Investing) for tax receipt preparation is March 31, 2021. Some external issuers (like mutual fund companies) will mail tax receipts to you directly. Note that late disclosures and amendments by some income trusts and limited partnership units mean you may not receive some tax packages until April. You should not file your tax return until you have received all your required receipts.

2. How do I get my tax documents online?

1. 1. From the My Portfolio menu, go to Documents
   2. Select Tax Slips
   3. Choose your account range
   4. Set your filters (date range and type of document)

Once you switch to online access, you’ll have access a PDF archive of your tax documents, beginning with the season issued after you sign up, and new ones as they become available.

3. Which tax documents are available online?
   
   The following tax documents that are issued by HollisWealth are available online, if you are signed up for eDocuments:

• • Registered accounts: T4RSP, T4RIF, T4A, RL-1, RL-2, NR4
  • Non-registered accounts: T5, RL-3, NR4
  • T3s and T5s issued by HollisWealth (mutual fund dealers will send and report their own – PLEASE NOTE:  we do not receive copies of these!)
  • Split corporations: T5 Additional, RL-3, NR4
  • Limited Partnerships: T5013, RL-15
  • Income Trusts: T3, RL-16, NR4

4. My Trading Summary doesn’t show my full book value. Why?
   
   Your Trading Summary shows the proceeds of any sale or maturity that took place in your account during the year, including the book value. Book value is not displayed for some types of transfers and deposits, including:

• 
  
  • External transfers from outside HollisWealth where the delivering institution did not provide the book value
  • Deposits of physical stock certificates
  • Transfers of Limited Partnerships and compound GICs

5. For RRSP contributions, do I get one or multiple receipts?
   
   You will typically receive one consolidated receipt for all contributions made in the last 10 months of 2020. For contributions made in the New Year, contribution receipts will be mailed weekly.