Here’s what you need to know to get a head start on filing your 2022 taxes
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 may be owed money.
“For individuals who are signed up for direct deposit and file electronically, they can expect to get their refund within about eight days,” Pranke said.The government might owe you moneyIn the fall, the CRA said about $1.4 billion in uncashed checks was sitting in its coffers. — Home accessibility tax credit. This credit is available for eligible home renovations or alteration expenses aimed at making a home safer or more accessible for a person with a disability. The benefit has been enhanced this year, allowing Canadians to claim up to $20,000 in expenses.
— Simplified northern residents travel deduction. The CRA is launching a pilot project to make it easier for northern residents to determine the lowest return airfare, an amount required to claim travel deductions. The simplified process includes tables that identify the lowest return airfare, which are available on the government of Canada website.
While Pranke would not weigh in on how a strike might affect tax season, she encouraged Canadians to file their taxes online, which involves less manual work to process.For modest-income earners, Pranke said a range of resources are available to help with the filing process, including free online software.
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