The CRA Just Revealed Everything You Need To Know About Your 2022 Taxes In Canada
These will for sure make tax time easier this year.👇💰
With tax time in Canada just around the corner, there are tons of things that you need to know before you start filing this year.
Thankfully, the Canada Revenue Agency (CRA) recently explained everything you need to know to get your taxes in on time and in a way that saves you the most money possible.
First and foremost, this year's tax deadline is April 30, 2022. That not only means you need to have your taxes filed by then, but you also need to have all the money you might owe paid to the CRA by then.
However, because it's a Saturday, the agency will accept anything that was sent in on or before, or was postmarked for on or before, May 2.
So, make sure you keep that date top of mind in the coming months!
To make hitting that deadline a bit easier, the CRA is encouraging folks to file their taxes online. All you need to do is sign up for a secure account with them and you'll be on your way to doing all your taxes by yourself.
Speaking of convenience, for the first time ever, the CRA has created an online course to teach taxpayers about taxes and how to file on your own. It's full on course, with video lectures and quizzes that takes around two hours to complete.
The agency is also encouraging Canadians to plan ahead and "file your income tax and benefit return as soon as you can." They say this will help you to receive any refunds quicker, avoid interruptions to any benefits or credit payments you're owed and help you to get help faster if you need it.
On top of that, there are a bunch of credits and expenses that Canadians can claim on their taxes this year. You may qualify for a climate action incentive payment, the Canada Workers Benefit, home office expenses and more, all of which could save you some money this April.
Finally, the CRA wants everybody to look out for scams and fraud at tax time. You should use strong and complex passwords, monitor your account for any unusual activity and sign up for official email notifications of changes to your account.
Hopefully, with these tips, you're tax time will be a little more basic and a little easier. Good luck!