The 2023 tax season is around the corner and you be prepared for this tax season to maximize your benefits and optimize your tax payments. It’s important to mark your calendar for the following deadlines regarding your personal tax filing:
January 1:
The beginning of contribution room for Tax Free Saving Account (TFSA). This room is $6,500 for 2023. February 21:
The opening of Netfile/efile for 2022 tax filing. February 28:
Deadline for T slips filing by employers, corporations, banks and financial institutions. Most people can file their taxes after they receive their T slips. March 1:
Deadline for RRSP contribution to consider for the 2022 tax year March 31:
Deadline for applying for a one-time top-up to the Canada Housing Benefit
May 1:
The tax filing deadline for personal tax filing is on April 30 each year. When the deadline falls on weekends, the next business day will be the deadline. Therefore, for the 2023 tax season, the deadline for filing 2022 tax returns for personal taxes is May 1, 2023.
June 15:
Deadline for self-employed tax filing and their spouses.
Note that the deadline for any tax owe payment is still May 1.
Residents of cities that have Vacant Tax Filing obligations such as Toronto and Ottawa should file their property vacant tax filing starting Jan 1, 2023. For more information about this visit your home town City’s website.
Mark your calendar for these tax deadlines to do your tax planning and tax filing on time or to contact your accountant or financial advisor for tax planning and tax filing. For more information on what you need for tax filing, you can check our tax checklists.