Tax season 2023: Changes for homeowners, medical expenses and more
Global News
There are a few changes Canadians need to know about before filing their taxes this year. When's the deadline, and what can you claim? Here's what to know.
The official start to tax season begins on Monday, Feb. 20, this year as the Canada Revenue Agency (CRA) opens its portal for Canadians to file.
Before you call up your accountant or wade into the taxation trenches yourself, there are a few changes you should know about for the 2022 tax year.
Bruce Ball, vice-president of tax for CPA Canada, tells Global News that it wasn’t a blockbuster year for changes to tax legislation.
“There are some new things to keep in mind, but there weren’t maybe large changes like there have been in other years,” he says.
For Canadians with medical expenses, those who received COVID-19 benefits and some homeowners, there are some expanded benefits and other filing changes this year that might tip you towards a tax return at the end of the process.
Here’s what experts like Ball are flagging to their clients about filing taxes in 2023.
In a normal year, the deadline for most Canadians to file their taxes is April 30 — but this year, that date falls on a Sunday.
As a result, you’ll have until May 1, 2023, to file your 2022 tax return.