Confirm my Representative is now available for business owners
The protection of taxpayer information is of the utmost importance for the Canada Revenue Agency (CRA).
What’s new and what to remember when filing your taxes in Ontario this year
Tax season is upon Ontario residents and the Canada Revenue Agency (CRA) is getting ready to answer questions from taxpayers and make it easier and quicker for them to file their 2022 income tax and benefit return.
2023 Tax Season is here!
As we approach the 2023 tax season in Canada, it’s important to start thinking about preparing and filing your taxes for the 2022 tax year. Here are some key reminders and tips to help you get organized and avoid any last-minute stress. Know the deadlines: The deadline for filing your personal income tax return in …
What you need to know for the 2023 tax-filing season
Millions of Canadians file their income tax and benefit returns every year. For the 2022 tax-filing season, Canadians filed approximately 31 million returns and 92% of them were filed electronically. Also, there were over 17 million refunds processed, resulting in a total amount of $37 billion!
We know that having the information you need on hand makes filing easier. Below, you’ll find what you need to know for this year, including what’s new.
Received a T4A slip from CRA? Here’s what you need to know
Did you receive COVID-19 benefit payments from the Canada Revenue Agency (CRA) in 2022? If you did, you should receive a T4A Statement of Pension, Retirement, Annuity, and Other Income slip. These payments are taxable, and you need the information on your T4A slip when filing your income tax and benefit return. Learn More
Design of the Tax-Free First Home Savings Account
In Budget 2022, the government proposed the introduction of the Tax-Free First Home Savings Account (FHSA). This new registered plan would give prospective first-time home buyers the ability to save $40,000 on a tax-free basis. Like a Registered Retirement Savings Plan (RRSP), contributions would be tax-deductible, and withdrawals to purchase a first home—including from investment …
Design of the Tax-Free First Home Savings Account Read More »
Indexation adjustment for personal income tax and benefit amounts
Each year, certain personal income tax and benefit amounts are indexed to inflation using the Consumer Price Index data as reported by Statistics Canada. Increases to tax bracket thresholds, amounts relating to non-refundable credits, and most other amounts below take effect on January 1 of the applicable year. Learn More
Were you invited to file your taxes over the phone?
Every year, CRA send letters to eligible Canadians inviting them to file their income tax and benefit returns with the CRA’s File my Return automated phone service. Learn More
Seniors: We’ve got tips to help you this tax season!
Seniors, we’re here to help make sure you get all the benefits and credits that you may be entitled to! These tips will help you complete your income tax and benefit return and avoid interruptions to your benefit and credit payments Read More
Students: Put More Money In Your Pocket With Benefits And Credits
As a student, you may have many questions about taxes. It might even be your first time filing an income tax and benefit return, and that’s okay! We’re here to make tax-filing easier and to make sure you receive the benefits and credits you may be entitled to.