As far as tax-filing goes, 2020 (remember that?) was the year the dog ate our homework. The Canada Revenue Agency (CRA) extended the deadline, and the government introduced benefits to help Canadians make ends meet. Three tax seasons later, we’ve settled into a new normal—where “homework” is not only literal, but also tax-deductible.
But do those tax-filing extensions still apply? Does inflation affect your tax return? And when did CRB end, again? Here’s a checklist to get you started. For a list of every tax and benefit that’s changed this year, visit the Canada Revenue Agency (CRA) website.
Normal deadlines are in place
|How are you filing?||Filing deadline||Payment deadline|
|If you're filing as an individual||April 30, 2023*||April 30, 2023*|
|If you, your spouse or common-law partner are self-employed||June 15, 2023||April 30, 2023*|
|If you're filing on behalf of your corporation||
Six months after the end of the corporation’s tax year
Generally, corporations have to pay their taxes in instalments, either monthly or quarterly.
*April 30 is a Sunday this year. Your return will be considered filed on time if the CRA receives it, or it is postmarked, on or before Monday, May 1, 2023.
Home office expenses
At the start of the pandemic, the CRA allowed Canadians to claim up to $400 per year for expenses incurred while working from home. In 2021, the CRA increased that amount to $500 per individual—and it remains at $500 for the 2022 tax year.
You don’t need any supporting documents from your employer to make the claim. Anyone who meets the eligibility criteria can claim $2 a day, up to $500 for the year. If you want to claim the actual amounts you paid (on printers, paper, and all your other office costs) you’ll need receipts and a completed and signed Form T2200S / Form T2200 from your employer.
Compare the two options to see how they apply to your 2020, 2021 and 2022 tax returns.
New year, new tax bracket
Inflation was unusually high in 2022, and the CRA has boosted tax brackets by 6.3% to offset some of that sprawl.
Here are the Federal tax bracket rates for 2022:
- 15% on the first $50,197 of taxable income
- 20.5% on taxable income between $50,197 and $100,392
- 26% on taxable income between $100,392 and $155,625
- 29% on taxable income between $155,625 and $221,708
- 33% on any taxable income over $221,708
Additional Covid-related support
Though three of the most common pandemic-related benefits have now closed, you or your family may have received the Canada Recovery Caregiving Benefit (CRCB) or the Canada Recovery Sickness Benefit (CRSB) in 2022. If so, you’ve likely already received a T4A tax slip from CRA and must report the benefits as income when you file this year’s return.
|Canada Recovery Benefit (CRB)||Canada Recovery Caregiving Benefit (CRCB)
||Canada Recovery Sickness Benefit (CRSB)|
Closed to retroactive applications on December 23, 2021.
You can no longer apply for this benefit.
Individuals unable to work during the pandemic because they must look after a child or family member who needs supervised care.
Closed to retroactive applications on July 6, 2022.
Employed or self-employed individuals who are sick or need to self-isolate due to the Covid-19 pandemic.
Closed to retroactive applications on July 6, 2022.
Your 2022 tax year checklist
Whether you do it yourself or work with a team of experts, here’s a list of everything you should double-check before filing your 2022 taxes.
Here are a few things you’ll need to have on hand.
☐ Last year’s tax return and CRA Notice of Assessment for you, your spouse or common law partner, and any dependents
☐ Records of any tax instalments you paid throughout the year
☐ A list of assets held outside of Canada
☐ Charitable donation receipts
☐ Political contribution receipts
☐ Medical receipts for any treatments you had in 2022
TIP: You can access your CRA Notice of Assessment online by creating a MyCRA account and using the mobile app to view your documents.
About your family
Parents can use tax credits to claim many of the substantial (and growing) costs of raising a family. Be sure to account for everyone and everything.
☐ Tuition slips (T2202A) for yourself or for a child
☐ Childcare expense receipts
☐ Medical receipts for your family's 2022 treatments
About Your income
Do you have income from more than one source? Give yourself enough time to track down all the details.
☐ Employment income (T4)
☐ Employee profit sharing (T4PS)
☐ Employment Insurance slip (T4E)
☐ Pension, retirement and annuities income slips (T4A)
☐ Registered plan income (T4RSP & T4RIF)
☐ Dividends from your incorporated practice
☐ Old Age Security (T4A-OAS)
☐ Canada Pension Plan slips (T4A [P])
About Your investments
If your investments are consolidated with one investment firm or advisor, you should receive all of this information automatically. Ask your advisor if this information is available online.
☐ RRSP contribution receipts
☐ TFSA contribution amount (available through MyCRA)
☐ Investment income tax slips (T5)
☐ Income from trusts (T3)
☐ Income from partnerships (T5013)
☐ Capital gains and losses summary (T5008 or Statement of Securities Transactions)
☐ Receipts for investment advice
☐ Receipts for interest paid on investment loans
Considerations for all lawyers
As a lawyer, you may be entitled to the following deductions related to personal and professional expenses. If in doubt, consult a tax expert or ask your firm’s payroll provider for advice.
☐ Professional and union dues
☐ Moving expenses if you relocated for work in 2022
☐ Home office expenses - be sure to double-check recent changes to home expense benefits due to Covid-19. If you’re claiming your actual expenses (the money you spent on a computer, printer, office supplies), you’ll need receipts and a Form T2200S / Form T2200 signed by your employer.
☐ Mileage (tracked in a logbook)
We’re here to help
Talk to your Lawyers Financial advisor If you’d like help finding a tax expert in your area, or advice on how to invest your tax refund.