BRITISH COLUMBIA – Tax season is upon British Columbia residents and the Canada Revenue Agency (CRA) is getting ready to answer questions from taxpayers and make it easier and quicker for them to file their 2022 income tax and benefit return.
The deadline for most British Columbia residents to file their income tax and benefit returns for 2022 is April 30, 2023. Since this date is a Sunday, a return will be considered filed on time if the CRA receives it, or it is postmarked, on or before May 1, 2023. A payment will be considered made on time if the CRA receives it, or a Canadian financial institution processes it, on or before May 1, 2023.
Updates to Benefits, Credits, and Services
Simplified Northern Residents Travel Deduction – The CRA is launching the Simplified Northern Residents Travel Deduction, a pilot project to make it easier for northern residents to determine the lowest return airfare, one of the three amounts required to claim the travel deduction come tax time. Available on canada.ca/lowest-return-airfare, the simplified version features tables that identify the lowest return airfare amount found from airports with regularly scheduled commercial flights to a designated city. The airfare tables contain more than 135 airports, almost all of which are located in the prescribed zones.
Canada Dental Benefit – The new interim Canada Dental Benefit is available to eligible families earning less than $90,000 per year. It provides financial support for parents and guardians of children under 12 years old if they receive dental care in Canada and do not have access to private dental insurance. For more information, go to Canada Dental Benefit.
One-time top-up to the Canada Housing Benefit – The government introduced a one-time $500 payment to help lower-income renters facing housing affordability challenges. Applications are open until March 31, 2023. For more information go to One-time top-up to the Canada Housing Benefit.
First-time home buyers’ tax credit – The amount used to calculate the first-time home buyers’ tax credit has increased to $10,000 for a qualifying home purchased after December 31, 2021.
Home accessibility tax credit – For 2022 and later tax years, the annual expense limit of the home accessibility tax credit has increased to $20,000.
Disability tax credit – For 2021 and later tax years, an individual diagnosed with type 1 diabetes is considered to have met the two times and 14 hours per week requirements for life-sustaining therapy. For more information go to Disability tax credit.
Payment arrangements – If you cannot pay an existing debt in full, you may be eligible for a payment arrangement. Payment arrangement options have been expanded to reflect current realities. The Payment Arrangement Calculator has also been added to My Account and My Business Account. This self-service tool allows you to submit a potential payment arrangement without having to contact the CRA. If the proposed payment arrangement does not meet the CRA payment policy, a CRA officer will reach out to complete the arrangement.
You will be able to file your 2022 income tax and benefit return electronically starting on February 20, 2023.
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