Get Canada T1159 E 2019-2025

The Canada T1159 E form is essential for individuals electing under Section 216 of the Income Tax Act for reporting rental income and timber royalties. This guide provides clear, step-by-step instructions on how to complete the form online, ensuring every user can navigate the process confidently.

Follow the steps to fill out the Canada T1159 E efficiently.

1. Press the ‘Get Form’ button to access the form and open it in your preferred digital document editor.
2. Begin by filling in your identification information. Print your name and address clearly in the designated fields. Enter your social insurance number (SIN), temporary tax number (TTN), or individual tax number (ITN).
3. Indicate your date of birth, ensuring you use the format specified in the form. If this return is for a deceased individual, input their date of death in the provided area.
4. Next, provide your email address to receive notifications from the Canada Revenue Agency. Confirm that you agree to the terms regarding this notification.
5. Transition to the income section and report your gross rental income and timber royalties. Make sure to enter the net income accurately as well.
6. In the deductions section, list any RRSP deductions and support payments made. Specify any other allowable deductions in the corresponding line.
7. Calculate your taxable income by subtracting the total deductions from your total income, making sure to enter '0' if the result is negative.
8. Proceed to fill out Part 1 of the federal tax section based on your taxable income. Follow the instructions carefully, depending on the income brackets provided.
9. Complete Part 2 of the federal tax to determine your total payable. Be sure to include any minimum tax carryover and non-resident surtaxes as applicable.
10. Review for any additional entries, such as tax remitted for the recapture of capital cost allowance. Compute your refund or balance owing based on the submitted figures.
11. Finalize by certifying the accuracy of the information provided. Sign the form and include the preparer's information if necessary.
12. Once you have completed all fields, save your changes, then you can download, print, or share the completed form as needed.

Start filling out your Canada T1159 E online today to ensure a smooth filing process.