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Here's What You Need To Know To Get A Head Start On Filing Your 2022 Taxes

CP 24 ~ Feb. 22, 2023

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.

The filing deadline of April 30 falls on a Sunday this year, so Canadians have until May 1 to finish filing their taxes. But a looming strike for CRA workers may be on the horizon.

Here's a look at what you need to know, and at some of the new benefits you may qualify for this year.

 It's faster to file taxes online

CRA assistant commissioner Gillian Pranke, who is in charge of this tax season, is encouraging people to file their taxes online. She said 92 per cent of Canadians filed online last year.

"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.

For those who file via mail, the process of getting a refund can take up to eight weeks.

The government might owe you money.

Click here to read the full article.

CURRENT RATES

CURRENT RATES
Term Our Rate Bank Rate
2 YEAR 5.%19 7.35%
3 YEAR 4.59% 7.14%
4 YEAR 4.69% 6.99%
5 YEAR 4.49%* 7.04%
5 YEAR variable 5.55%* 7.20%
15 Aug 2024


*Special conditions apply. Interest rates are provided for information purposes only and are subject to change without notice.

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