Mark Your Calendar for These Important Tax Dates in Canada in 2022

2022 Canadian Tax Year-Important Dates

This calendar will assist you in staying on top of important tax dates in 2022.

The first day of this tax year is January 1, 2022.

2 March 2022

The deadline for making RRSP contributions for the 2021 tax year has passed.

January 22nd, 2022

The e-file service is currently unavailable due to maintenance.

The 24th of February, 2022

E-filing is now available for Canadian residents and immigrants for the 2021 tax year.

28th of February, 2022

The deadline for employers and the CRA to issue T4s, T4As, and T5s has passed (Canada Revenue Agency).

15th of March 2022, 15th of June 2022, 15th of September 2021, and 15th of December 2022

Due dates for instalments in 2022

It’s important to set up pre-authorized debit payments for 2020 by April 22, 2022, to avoid paying interest on the money.

30th of April, 2022 (extended to 2 May because 30 April is a Saturday)

Individuals have until the end of the year to file their tax returns for 2021 and pay any balances owed to the CRA.

On the 15th of June, 2022

The deadline for self-employed Canadians to file their tax returns for 2021 has passed. If there is a debt owed for 2021, it must be paid before April 30, 2022.

The tax year ends on December 31, 2022.

People in Canada Should Know About Tax Tips

Moving to Canada or going on a work-study trip? The more you learn about your tax obligations, the better off you will be in the long run. The following are some tips to help you.

In this case, you can be either a resident or not.

Because this will affect how much tax you pay in Canada. Everyone who works in Canada will have to pay income tax on their money, but there is a tax-free allowance for people who don’t work.

Residents are taxed on their whole income, regardless of where it comes from. Non-residents must report all of their income, but they only pay tax on income earned in Canada.

Most of the time, if you live in another country regularly, you will be considered a non-resident for tax purposes. If you live in Canada most of the time, you will most likely be classified as a resident for tax purposes.

A “Tax-Free Allowance”

The basic personal tax-free allowance will increase by $579 in 2021. It went up from $13,229 to $13,808, or $579 more than in 2018.

TD1 is a form you will fill out when you start a job in Canada. This form will tell you if you can get this credit, but you may not be able to get it all the time.

You can’t get the personal tax credit if you worked in another country from January to December of the same tax year that you worked in Canada (from Jan to Dec).

There is only one way to get the tax-free allowance: if you make at least 90% of your money in Canada.

Your TD1

TD1 is a form you need to fill out when you start or change your job. Each time you work, you’ll have to fill out two forms: one for the federal government and one for the state where you work. There are a few places where you could get a little lost on this form.

If you worked in another country before you came to Canada, this is the first thing to think about. It’s important to make sure that at least 90% of your income came from working in Canada if you earned tax from another country in the same tax year.

The TD1 form asks you if you spent more than 10% of the year outside of Canada. Whether this is the case, enter a “0” in box 13 and choose “No” when asked if you are a nonresident.

You could also make a mistake if you work more than one job. You must make sure you don’t claim the personal tax credit more than once. If you can claim the credits, please only claim them for one job at a time. You should claim them for the job that pays the most.

Expenses

For some expenses, like work-related and medical expenses, you may be able to get money back from them. If you work for a company, you may be able to claim some of your work expenses.

There are two ways to qualify:

• Your job contract says that you have to pay for the expenses.
• In some cases, you don’t get an allowance to pay for the costs. If you do get an allowance, your employer adds it to your total income.

There are many examples of these costs: transportation costs, the cost of electronic devices, accounting and legal fees, and the possibility of getting back the GST or HST taxes you paid when you bought these items, among other things. Any expenses you incur must be directly related to your job, and you must keep records of them, like invoices and receipts.

Don’t forget to file your tax return

You should file your taxes before the April 30 deadline after the end of the tax year so you can get your tax back. Do you need your social security number and your last pay stub to do this? Then you can file. While the tax deadline is April 30, you can file your return in February after the end of the tax year, which is February.

• If you pay income taxes, you may be able to get back some of your taxes.
• You paid too much into the Canadian Pension Plan.
• You paid too much for employer insurance.

Why should you be organized with taxes?

Learn how CPAs can help their clients with their taxes during the epidemic, as well as the new rules for claiming office expenses and what you need to know when filing returns for an incorporated or unincorporated business.