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An annual tradition, filing taxes is akin to spring cleaning. You might wonder where the year went. Maybe you had a baby, got married, got divorced, got laid off… When you file your 2022 taxes, it is time to reflect on everything and anything from the past year that impacts your tax bill.

Despite the complexity, it remains essential to file (and pay) your taxes on time. Of course, to do that, you need to know when to file. The deadline for filing is different depending on your situation. To help you better understand when to file your 2022 taxes, we’ve broken down the specifics for the most common situations. Let’s take a look. 

Learn how you can file your taxes for free in Canada.

When Can I File My 2022 Taxes In Canada?

Your tax deadline varies based on the type of tax return you’re filing. Typically, any amount owing becomes due and payable on the date of the deadline. To avoid interest, it’s important to know which category represents your return (and to file on time). 

Individual Tax Return Deadline

The earliest you can file your tax returns electronically is in February 2023. The last day to file taxes for the 2022 year is May 01, 2023. Generally, the deadline is April 30th, but it’s moved to May 01st since it lands on a Sunday. Unless you have made other arrangements with Revenue Canada, this is the day any amount owing becomes due. After this time, it will begin to accrue interest.

Do you owe money to the CRA? Check out what you should do if you owe money to the CRA.

Self-Employed Tax Return Deadline

Those who are self-employed have a later deadline, the last day to file is Thursday, June 15, 2023. The deadline also applies to the spouse of self-employed individuals.  

Due Dates For Installment Payments

If you arrange to pay portions of your tax bill throughout the year, the payments must be submitted quarterly. The due dates are March 15, June 15, September 15, and December 15. Failure to meet these deadlines results in needing to pay a higher amount. This applies to both employed and self-employed individuals

Due Dates For Final Tax Returns

This applies to those who are representing the estate of a deceased person. Let’s say you are the Executor of a will. As Executor, you must complete the final tax return of the deceased. If the person died before October 31, 2022, the deadline for the final return is May 01, 2023 (since April 30, 2023, falls on a Sunday). If the person died between November 1st and the end of the year, the return is due six months after the death occurred. 


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What Happens If You Miss The Tax Deadline In Canada?

Missing a deadline is never a good thing — but missing your tax deadline is possibly the worst deadline to miss. In addition to the extra stress you face from racing the clock, filing your taxes late comes with costly expenses. 

Late Tax Filing Penalty

If you miss your tax deadline, then Revenue Canada will charge you five percent of any amount owing. Every subsequent month, an additional one percent is added to the total. For those who are late filing for previous years, the penalty increases to ten percent upfront and an additional two percent every month. The maximum penalty period is 20 months. 

Example: If you owe $2,000 on your income tax bill and you file two months late, you will get a late penalty of $100 (five percent of the total). If you pay the full amount within the month, you will owe $2,100. 

Were you to pay three months late, the added penalty would increase. One percent of $2,000 is $20. It gets added to the total every month, raising the amount to $2,160.

Are you struggling to pay your taxes? Find out if bankruptcy is the right solution for your tax debt.

Late Tax Filing Interest

On top of the penalty fee, Revenue Canada will also charge interest on the amount owing. The percentage of interest depends on the type of taxpayer. For individuals, it is five percent while corporate entities pay one percent in interest. 

2022 Tax Changes You Should Know About 

New deductions have been introduced by the Canadian government. Additionally, there are specific filing protocols if you received benefits due to the COVID-19 crisis. To file your taxes correctly, it’s important to understand the specifics. 

The Basic Personal Amount (BPA) Is Higher

Your 2022 taxes might make you a little richer. The Basic Personal Amount is now $14,398. The government will not tax you on the first $14,398 that you earned.

The Federal Tax Brackets Have Changed

One good think to come out of life getting that much more expensive is this: the federal tax brackets have shifted so that you might catch break. These brackets also affect your provincial tax rate.

The first $13,498 of income you earn is tax free. It is your Basic Personal Amount. These adjusted tax brackets apply to any taxable income you have. That means anything over the BPA.

Federal Tax RateFederal Income Tax Brackets
15%Applicable to taxable income up to $53,359
20.5%Applicable to taxable income over $53,359 up to $106,717
26%Applicable to taxable income over $106,717 up to $165,430
29%Applicable to taxable income over $165,430 up to $235,675
33%Applicable to taxable income over $235,675

Work From Home Tax Benefit

It is a little different this year. A lot of people are still working from home and the allowable deduction is now $2 for each day that you worked from home during the pandemic. If, on the other hand, you kept records of the your expenses, you can report that total instead.

T4A Slip For COVID-19 Benefits

If you received benefits such as the Canada Recovery Benefit (CRB), Canada Sickness Recovery Benefit (CSRB) or Canada Recovery Caregiving Benefit (CRCB), you will receive a T4A slip from Revenue Canada. Those in Quebec will receive an RL-1 with the amount received stated in Box O. While the tax was withheld at the source for CRB payments, the initial CERB benefit did not withhold any amount. As such, you may owe money to the government as a result of these benefits. Whether or not you owe depends on your overall tax return. 

Provincial COVID-19 One-Time Payouts

Some good news for your wallet. Any one-time COVID-19 payout that your province paid you in tax free for 2022. You do not have to report it on your income tax

Canada Pension Plan Maximum Contributions Are Higher

The maximum pensionable earnings for the Canada Pension Plan (CPP) is now $64,900, and the basic exmption is $3,500. That means slightly more money for you in your old age.

TFSA Limit Went Up

The annual limit on tour Tax Free Savings Account (TFSA) is higher. If you have had a TFSA since the beginning (2009) and did never made a deposit, your eligible amount is a maximum of $81,500

RRSP Limit Increased

You still can only contribute 18% of your annual income to your registered retirement savings plan (RRSP). However, there is a maximum amount that any Canadian, regardless of income, can put in their RRSP. This year, the maximum is $29,210.

Have you received any COVID-19 benefits? Check out how to file your taxes if you received COVID-19 benefits.

Ways To File Your Taxes In Canada 2023

There are multiple ways to file your taxes, thanks in large part to evolving software in our increasingly digital world. Because of the convenience factor, it is easier to file your taxes in a way with which you are comfortable, be that on paper or online. Options include:

  • Mail-In Paper Returns: If you are more comfortable with filing taxes in the traditional manner, you can still do your taxes on paper and mail them to the government. You can order the paperwork online or download it and print off the documents. 
  • CRA FIle My Return Service: A service available for low-income individuals, it lets you file your taxes using the automated phone service. Those who qualify will receive paper correspondence from Revenue Canada to inform them of this program’s availability. 
  • Filing Online Using Software: Using either EFILE or NETFILE, you can file your taxes online. EFILE is used by tax professionals working on your behalf. NETFILE is the program approved by Revenue Canada that lets you file your own taxes. There are many different software programs available, ranging in cost-effectiveness and user-friendliness. 
  • Voluntary Tax Clinics: The Community Volunteer Income Tax Program has clinics throughout the country, meant to help those with lower income and basic tax returns. Experienced tax professionals facilitate the returns; and, due to the ongoing pandemic, the services are available by online video, telephone, and dropped-off paperwork. 

There are many ways to file your taxes, even if you’re cutting it close to the deadline. If you are working on a budget, there are many no-cost ways to file. Many approaches take little more than a few minutes, provided you have a straightforward return. The added ease of filing can help you avoid missing a deadline. 

When Will You Get Your Tax Refund?

If you electronically file your taxes before the deadline, the CRA will generally provide your tax refunds within 2 weeks. However, if you file by paper, your tax refund can take up to 8 weeks to reach you. Do keep in mind that these numbers are estimates and the CRA does not guarantee you will receive your refund within the period mentioned. Moreover, if the CRA requires additional information or if you’re getting audited, your refund may be delayed further.

Per the Income Tax Act, it is every Canadian’s legal responsibility to file and pay their taxes. Everything from the public healthcare system to roads to schools is funded using these taxes. By filing your taxes on time, and paying any owed amount promptly, you’re not only doing your civic duty, but you are also saving yourself from hefty penalties and interest costs. The sooner you file your taxes for 2022 the sooner you can plan for any owed amounts. It’s easier than ever to file your taxes. Once the task is done, you can rest easy knowing that you are settled up for earnings in the previous year. 

2022 Tax Season FAQs

What happens if the tax due date falls on a holiday or weekend?

Since due dates in 2023 fall on a weekend (or holiday), the CRA extends the deadline to the next business day. If you mail in your tax forms, be sure that they are either postmarked by the deadline or received in advance. Those who file returns electronically must transmit the complete taxes by midnight, at their local time, on the date of the deadline. Late filing incurs a penalty and interest fees. 

Do I have to file my taxes? 

Individuals who don’t owe any taxes, and who meet certain criteria, may not have to file a return. However, if you made $400 in self-employment income, you need to file and pay tax. That said, if you made less than this amount, you aren’t obligated to file a return.

What’s the deadline for my RRSP contributions?

The deadline for RRSP contributions is usually March 1, 2023. You can add to your Registered Retirement Savings Account at any point, though it only qualifies for a refund if you added money before the deadline. 

How do I pay my taxes?

Paying your taxes is fairly straightforward, with multiple ways to remit amounts owing. Options include using PayPal, Interac e-Transfers, or paying through your online banking service. You can establish a pre-authorized debit to let the government take the money directly from your account. Other options include paying by credit card, at the bank or any Canada Post location, or sending in a cheque by mail. If you plan to pay by credit card, try to use a cashback or other rewards card to get all the benefits you can. 

What happens if I don’t get my T4 slip on time?

Generally, employers will send you your T4 slip by the end of February. However, if you do not receive it, you can contact your employer to ensure they have your correct contact information. If your employer is simply slacking on their duties, you can try to obtain the form yourself by going to your CRA MyAccount. Sometimes your employer may directly submit it to the CRA.
Corrina Murdoch avatar on Loans Canada
Corrina Murdoch

Corrina Murdoch has been a dedicated freelance writer and editor for several years. With an academic background in the sciences and a penchant for mathematics, she seeks to provide readers with accurate, reliable information on important topics. Working as a print journalist for several years, Corrina expanded her reach into the digital sphere to help more people gain insight into the realm of finances. When she's not writing, you can find Corrina swimming and spending time with family.

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