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TAX TIP Seniors: We've Got Tips To Help You This Tax Season!

Tuesday, 24 January 2023 04:18.PM

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.

If you or your spouse or common-law partner are self-employed, you have until June 15, 2023, to file on time. Filing your return before the respective deadline will allow you to avoid interruptions to any benefit or credit payments you may be entitled to.

If you owe money, your payment is due on April 30, 2023. Your payment will be considered on time if the CRA receives it, or a Canadian financial institution processes it, on or before May 1, 2023.

Get benefits, credits, and claim other expenses

When you file your return, you may be eligible for benefits and credits that put more money in your pocket. You can find out what benefits and credits you're eligible for and how to apply on our Tax credits and benefits for individuals page.

You may also be eligible to receive the Guaranteed Income Supplement (GIS). It's a monthly benefit for old age security pension recipients who have low income and are living in Canada. If you already receive the supplement, by filing your return on time, you'll avoid interruptions to your payments and you won't have to reapply.

If you owe money this year, you may be able to claim deductions, credits, and expenses on your tax return to reduce the amount of tax you have to pay. Find out what you can claim on our Claiming deductions, credits, and expenses page. You may also be able to take advantage of pension income splitting.

Register for direct deposit and file online

You can register for direct deposit and file online to get any refund you may be eligible for faster. To file online, the CRA has a list of certified tax software products that are easy to use, fast, and secure, some of which are free!

When you file using NETFILE-certified software, you may be able to use:

• Auto-fill my return. This is a secure service that allows individuals and authorized representatives using certified tax software to automatically fill in parts of an income tax and benefit return with information that the CRA has available at the time of the request. This service can retrieve information from the current year and six years prior. Once Auto-fill my return has populated the return with the information, make sure that all the proper fields on the return are filled in and that the information provided is true, accurate and complete before you file your return.
• Express NOA. This is a secure service that allows individuals and authorized representatives to view their notice of assessment (NOA) in their certified tax software and in My Account, immediately after the return has been received and processed by the CRA.
Electronic returns are generally processed within two weeks. Individuals who file online and are registered for direct deposit may get their refund in as little as eight business days. However, for paper returns, our service standard is to process them within eight weeks of receipt.

Learn about online filing, deadlines and more with our Get ready to do your taxes page. The CRA will update this page in late January 2023.

Register for My Account
You can register for My Account at My Account for Individuals. It's the fastest and easiest way to view and manage your tax and benefit information. If you own a business, you can register for My Business Account.

Get free tax help

If you have a modest income and a simple tax situation, volunteers at a free tax clinic may be able to do your taxes for you. Free tax clinics are available in person and virtually. To find out if you're eligible, and to find a tax clinic, go to our Free tax clinics page.

Climate action incentive payment

The Climate action incentive payment (CAIP) is a tax-free amount paid to help individuals and families offset the cost of the federal pollution pricing. You may be eligible for the CAIP if you are a resident of Alberta, Saskatchewan, Manitoba, or Ontario.

To get the CAIP, you and your spouse or common-law partner (if applicable) must each file an income tax and benefit return for the year and be an eligible individual. The CRA will automatically determine your eligibility when you file your return. If you have a spouse or common-law partner, only one of you can get the CAIP for the family. The CAIP will be paid to the spouse or common-law partner whose return is assessed first. No matter which one of you receives the CAIP, the amount will be the same.

If you are eligible to receive the CAIP, we recommend that you and your spouse or common-law partner (if applicable) file your 2022 returns electronically by March 10, 2023, to help in receiving the April 14, 2023, issuance. If you don't receive the April issuance, the payment will be included in a subsequent payment after your return is assessed.

The CAIP also includes a supplement for residents of small and rural communities.

Pending Parliamentary approval: This year, you may also be eligible for the CAIP if you are a resident of Newfoundland and Labrador, Nova Scotia, or Prince Edward Island. The same eligibility rules and filing requirements mentioned above will apply. You will not be eligible for the April 2023 payment because the federal fuel charge will only apply to these provinces as of July 1, 2023. If you are eligible, you will automatically receive your first payment in July 2023.

Quickly see if you have any uncashed cheques from us

Select "Uncashed cheques" on the My Account "Overview" page. If you have an uncashed cheque, ask us for a duplicate payment by selecting and completing the displayed form. Send us the completed form using the "Submit documents" digital service.

Protecting you from scams and fraud

To avoid scams and fraud, be aware of when and how the CRA might contact you. The Scams and fraud page provides information on the ways that the CRA may contact you, including by phone, email, mail and text message.

We strongly encourage you to monitor your CRA accounts regularly for any suspicious activity. You can find valuable information on how to secure your CRA accounts on our Security of your CRA My Account and My Business Account page.

Other resources

For more information, visit these pages:

• All deductions, credits, and expenses
• Taxes when you retire or turn 65 years old
• Questions and answers about filing your taxes (The CRA will update this page in late January 2023)

SOURCE: Canada Revenue Agency

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