Small Business Week is here! Tap into the Canada Revenue Agency’s entrepreneur-focused resources and information.
As we celebrate Small Business Week from October 20 to 26, the Canada Revenue Agency (CRA) is here to support Canada’s small business community. This week is dedicated to helping you connect, learn, and grow your business knowledge. We’re excited to share tax resources, tools, and services to help you tackle the challenges of running a business and keeping your tax affairs in check.
You asked, we answered! Here are answers to six more of the top business tax information questions.
Earlier this month, we issued a tax tip answering your top seven business tax information questions. Now that the basics are covered, we can turn to more specific questions.
Are you self-employed? The Canada Revenue Agency can help you understand your tax obligations
If you're self-employed, we understand that navigating your tax obligations may seem complicated. But don't worry! The Canada Revenue Agency (CRA) is focused on supporting you. To get ready for tax-filing season, we've put together helpful tips and information for self-employed individuals.
What you need to know for the 2023 tax-filing season
Millions of Canadians file their income tax and benefit returns every year. For the 2022 tax-filing season, Canadians filed approximately 31 million returns and 92% of them were filed electronically. Also, there were over 17 million refunds processed, resulting in a total amount of $37 billion!
We know that having the information you need on hand makes filing easier. Below, you’ll find what you need to know for this year, including what’s new.
New to Canada and filing your taxes? Here are tips to help you!
Are you new to Canada and getting ready to file your first Canadian income tax and benefit return? Don’t worry, the CRA are here to help! They’ve put together tips and information to guide you through the process and answer your questions.
You can also watch their video for newcomers. It’s available in 13 different languages: Arabic, Cantonese, English, Farsi, French, Hindi, Mandarin, Punjabi, Russian, Spanish, Tagalog, Ukrainian, and Urdu.
What you need to know for the 2023 tax-filing season
Millions of Canadians file their income tax and benefit returns every year. For the 2022 tax-filing season, Canadians filed approximately 31 million returns and 92% of them were filed electronically. Also, there were over 17 million refunds processed, resulting in a total amount of $37 billion!
We know that having the information you need on hand makes filing easier. Below, you’ll find what you need to know for this year, including what’s new.
Want to avoid delays at tax time? Use our digital services!
No one likes last-minute delays or waiting on the phone at tax time. You can avoid this by preparing early and using our digital services. You’ll be able to update your personal information and view your tax and benefit information ahead of time.
Filing and payment deadline:
You will be able to file your 2022 income tax and benefit return electronically starting on February 20, 2023. The deadline for most Canadians to file this return is April 30, 2023. Since April 30, 2023, falls on a Sunday, your return will be considered filed on time if the Canada Revenue Agency (CRA) receives it, or it is postmarked, on or before May 1, 2023.
Seniors: We’ve got tips to help you this tax season!
Seniors, we’re here to help make sure you get all the benefits and credits that you may be entitled to! These tips will help you complete your income tax and benefit return and avoid interruptions to your benefit and credit payments.
Filing and payment deadline:
You will be able to file your 2022 income tax and benefit return electronically starting on February 20, 2023. The deadline for most Canadians to file this return is April 30, 2023. Since April 30, 2023, falls on a Sunday, your return will be considered filed on time if the Canada Revenue Agency (CRA) receives it, or it is postmarked, on or before May 1, 2023.
Students: Put more money in your pocket with benefits and credits!
As a student, you may have many questions about taxes. It might even be your first time filing an income tax and benefit return, and that’s okay! We’re here to make tax-filing easier and to make sure you receive the benefits and credits you may be entitled to.
Filing and payment deadline:
You will be able to file your 2022 income tax and benefit return electronically starting on February 20, 2023. The deadline for most Canadians to file this return is April 30, 2023. Since April 30, 2023, falls on a Sunday, your return will be considered filed on time if the Canada Revenue Agency (CRA) receives it, or it is postmarked, on or before May 1, 2023.
Do you have questions about filing as a business for the first time? The CRA is here to help.
The Canada Revenue Agency (CRA) knows that it can be intimidating for new businesses to file their first tax return. That’s why we aim to help small businesses by ensuring they have the information and guidance they need to stay organized and to understand and meet their tax obligations.
Here’s what you need to know if you are a new business and have questions about filing your income tax and benefit return or your T2 corporation income tax return:
Running a business is difficult; understanding your tax obligations doesn’t need to be.
June 15, 2022, is the deadline for self-employed individuals to file their 2021 income tax and benefit return. The Canada Revenue Agency (CRA) wants to remind businesses that we are here to support you and your business in meeting your tax obligations.
The Liaison Officer Service
The CRA offers free Liaison Officer services to owners of small businesses and self-employed individuals to help them understand their tax obligations. A visit from a Liaison Officer is 100% confidential: the information you choose to discuss with them will not be shared with other areas of the CRA, or anyone else.
June 15, 2022, is the deadline for self-employed individuals to file their 2021 income tax and benefit return
The Canada Revenue Agency (CRA) is here to support you and your business in meeting your tax obligations.
If you are a self-employed individual, or if your spouse or common-law partner is self-employed, you have until June 15, 2022, to file your 2021 income tax and benefit return.
What are my tax obligations as a self-employed individual?
If you earned self-employment income from a business that you operate yourself or with a partner, you have to report that income by filing a tax return.
When you're self-employed and you operate your business, you must pay the following:
personal income tax
Canada Pension Plan contributions
Employment Insurance premiums if you are eligible and have registered to participate
Reporting your income also means that the CRA will have the most accurate information on file to determine if you are eligible for provincial and territorial tax credits and benefits, the GST/HST credit and the Canada child benefit.
Businesses: Looking for ways to better understand and meet your tax obligations? The CRA is here to help!
The Canada Revenue Agency (CRA) is committed to helping small and medium businesses by ensuring they have the information and guidance they need to stay organized and to better understand and meet their tax obligations.
Here’s what you can do to make sure you’re doing everything right:
File and pay on time
Organize your records and documents
Resources for you – the CRA is here to help
Before you call: Find the answers you need for the 2022 tax-filing season
Every tax season, thousands of people call us each week. They are looking for answers to their questions, trying to find information and wanting to solve any problems they have in doing their taxes.
We get it! We’re here to help you, and we want to offer you the best service possible, whether online or over the phone. We track the questions people ask us each year and use that information to design new services and improve our processes so you have better access to the tax and benefit information you’re asking for.
File your return by the deadline: Last-minute tax-filing tips to help you
The 2021 tax-filing deadline for most individuals is April 30, 2022
Since April 30, 2022 falls on a Saturday, your tax return will be considered filed on time if:
we receive it on or before May 2, 2022; or
it's postmarked on or before May 2, 2022.
You have until June 15, 2022, to file your tax return if you or your spouse or common law-partner are self-employed. Please visit our Are you self-employed? The Canada Revenue Agency can help you understand your tax obligations tax tip for helpful information.
If you owe taxes to the Canada Revenue Agency (CRA), your payment will also be considered paid on time if we receive it, or it is processed at a Canadian financial institution, on or before May 2, 2022.
Do you live in northern Canada? Find out about northern residents deductions!
If you lived in one or more prescribed zones for a continuous period of at least six consecutive months beginning or ending in the tax year, you may be eligible to claim the northern residents deductions on your income tax and benefit return. The northern residents deductions consist of a residency deduction and a travel deduction. If you are eligible, these deductions reduce the amount of income you pay tax on, so they will reduce your overall income tax debt.
Empower yourself to do your own taxes
Learn about your taxes is a new self-guided online course from the Canada Revenue Agency (CRA) for youth, new residents, and individuals who have never done their taxes before. It is also a great learning tool for anyone who needs a refresher on taxes. And, it includes lesson plans for educators who want to use the course in the classroom.
Canadians have told us they need help understanding how to do their taxes. Following public consultations, the CRA also identified a knowledge gap among young Canadians about the role and value of taxes. This free online learning tool will help all Canadians gain confidence in doing their taxes on their own.
Confirm a representative using My Account or My Business Account
This tax season, there’s a new way to confirm authorized representatives using My Account or My Business Account. Whether you’re an individual or a business, this easy, two-step digital process will help you protect your tax information and make authorizing new representatives more efficient and secure.
How to confirm a new representative using My Account or My Business Account?
Follow these steps to confirm a new authorized representative or to accept changes to the authorization level of an existing representative using the new “Confirm my Representative” service.
Make sure you maximize the benefits you are entitled to if you are First Nations, Inuit, or Métis
If you are First Nations, Inuit, or Métis, you are subject to the same tax rules as any other resident in Canada unless your income is considered tax exempt under section 87 of the Indian Act. To continue getting your benefit and credit payments, you need to do your taxes, even if your income is tax exempt or you had no income at all. Here are a few tips to help you get the benefits and credits to which you are entitled.
Did you buy, build, sell or renovate a home in 2021? Here’s what you need to know
If you bought, built, sold or renovated a home in 2021, we’re here to help you with your tax affairs. Here are some helpful tips and information to get you ready for this tax-filing season.
Claim $5,000 on your tax return: The home buyers’ amount (line 31270) is available if:
you (or your spouse or common-law partner) acquired a qualifying home in 2021; and
you did not live in another home that you or your spouse or common-law partner owned in the current year or any of the previous four years.