Requirement to File - Individuals

KNOWLEDGE EXPECTED OF: Both CFP^® Professionals and FPSC Level 1^® Certificants

Identify when an individual must file an income tax return for a given year.¹
Identify when an individual may wish to file an income tax return for a given year.¹
Identify that an individual required to file a tax return will do so using a T1 General Income Tax and Benefit Return.
Identify the deadline by when an individual is required to file a T1 General Income Tax and Benefit Return.
- For an individual taxpayer and their spouse where neither are self-employed²
- For a self-employed taxpayer and their spouse²
- For a deceased taxpayer²

Glossary of Verbs (mouse over to see definition)

Define

To state exactly the meaning of

Identify

To be aware of / to recognize and correctly name / to locate an appropriate resource

Explain

To make clear the meaning of / to describe something in more detail or reveal relevant facts or ideas related to it

Compare

To note the similarities and differences between two or more things

Estimate

To determine an approximate value for

Calculate

To find the value using mathematics

Convert

To change from one form or purpose to another

Evaluate

To reach a conclusion or make a judgement through careful study

Interpret

To give the meaning of / to construe or understand / to translate orally

Read more about the Taxonomy used in the FP-BoK