Here’s what you need to know to get a head start on filing your 2022 taxes

OTTAWA –

The Canada Revenue Agency kicked off its tax season this week by urging Canadians to file their taxes on time — and reminding them that they could be owed cash.

The submitting deadline of April 30 falls on a Sunday this 12 months, so Canadians have till May 1 to complete submitting their taxes. But a looming strike for CRA staff could also be on the horizon.

Here’s a have a look at what you must know, and at among the new advantages it’s possible you’ll qualify for this 12 months.

IT’S FASTER TO FILE TAXES ONLINE

CRA assistant commissioner Gillian Pranke, who’s accountable for this tax season, is encouraging individuals to file their taxes on-line. She mentioned 92 per cent of Canadians filed on-line final 12 months.

“For individuals who are signed up for direct deposit and file electronically, they can expect to get their refund within about eight days,” Pranke mentioned.

For those that file by way of mail, the method of getting a refund can take as much as eight weeks.

THE GOVERNMENT MIGHT OWE YOU MONEY

Canadians who do not file their taxes can miss out on cash they’re owed.

In the autumn, the CRA mentioned about $1.4 billion in uncashed checks was sitting in its coffers.

Pranke mentioned it is a false impression that solely individuals who owe cash ought to file their taxes. “You might be leaving some money on the table.”

NEW AND UPDATED BENEFITS ARE AVAILABLE

The authorities has launched or expanded among the tax credit that Canadians can declare, together with:

• 
  First-time house patrons’ tax credit score. The quantity used to calculate the first-time house patrons’ tax credit score has elevated to $10,000 for houses purchased after Dec. 31, 2021. That means Canadians who purchased their first house final 12 months could also be eligible for a refund of as much as $1,500.
• 
  Home accessibility tax credit score. This credit score is out there for eligible house renovations or alteration bills geared toward making a house safer or extra accessible for an individual with a incapacity. The profit has been enhanced this 12 months, permitting Canadians to say as much as $20,000 in bills.
• 
  Climate motion incentive fee. While the rebate itself will not be new, as of this 12 months, residents of Newfoundland and Labrador, Nova Scotia and Prince Edward Island are newly eligible to obtain the motivation fee that offsets the price of the federal worth on carbon air pollution. Residents of Alberta, Saskatchewan, Manitoba and Ontario proceed to be eligible for the funds.
• 
  Disability tax credit score. The tax credit score, which reduces the earnings tax that folks with disabilities or their members of the family could need to pay, was up to date to cowl people who’ve Type 1 diabetes, efficient starting within the 2021 tax 12 months.
• 
  Simplified northern residents journey deduction. The CRA is launching a pilot mission to make it simpler for northern residents to find out the bottom return airfare, an quantity required to say journey deductions. The simplified course of contains tables that establish the bottom return airfare, which can be found on the federal government of Canada web site.

A STRIKE COULD CREATE SOME DISRUPTIONS

Marc Briere, the nationwide president for the Union of Taxation Employees, mentioned strike votes have been launched and are anticipated to conclude in early April.

Briere mentioned he expects that CRA staff represented by the union will vote overwhelmingly in favour of taking strike motion, which might have an effect on tax submitting this season.

His recommendation for Canadians, he mentioned, is to file their taxes early to keep away from any disruption by a possible strike.

While Pranke wouldn’t weigh in on how a strike would possibly have an effect on tax season, she inspired Canadians to file their taxes on-line, which entails much less guide work to course of.

DON’T BE AFRAID TO ASK FOR HELP — AND BEWARE OF SCAMS

For modest-income earners, Pranke mentioned a variety of assets can be found to assist with the submitting course of, together with free on-line software program.

The CRA has additionally partnered with greater than 3,100 neighborhood organizations that run tax clinics, and extra details about these may be discovered on the canada.ca web site.

And the company’s helpline is out there to those that have missed previous tax filings or are fearful of creating a mistake, Pranke mentioned.

She added a phrase of warning: Canadians must be vigilant to keep away from falling for rip-off calls and textual content messages that declare to be from the CRA.

“When we contact you, we’ll make it clear who we are. And we go to great lengths to protect client information,” she mentioned, including that the federal company by no means sends texts with hyperlinks to click on.

This report by The Canadian Press was first revealed Feb. 22, 2023.