Air quality improvement tax credit: Self-employed individuals and partnership members can claim a refundable tax credit of 25% of their total expenses to improve ventilation or air quality at their place of business.People who are self-employed may benefit from two newly introduced tax concessions: In a related change, certain expenses incurred in Canada for a surrogate or donor are now considered medical expenses of the individual. Medical expense tax credit for surrogacy and other expenses: The list of eligible medical expenses was expanded as of 2022 to include amounts paid to fertility clinics and donor banks in Canada to obtain donor sperm or ova to enable a child’s conception by the individual, their spouse or common-law partner, or a surrogate mother on their behalf.Labour mobility deduction for tradespeople: Under this new deduction, eligible tradespeople and apprentices working in the construction industry may deduct up to $4,000 in eligible temporary relocation expenses per year (see Form T777 for more information).Reduce the risk of harm to a qualifying individual when inside a dwelling or accessing it.įor 2022, the annual expense limit increased to $20,000.Gain access to, or be mobile or functional within, an eligible dwelling, or.Home accessibility tax credit: This non-refundable tax credit is available for eligible home renovation or alteration expenses that allow a qualifying individual to:.First-time home buyers’ tax credit: The amount used to calculate the first-time home buyers’ tax credit has increased to $10,000 (from $5,000) for a qualifying home purchased after December 31, 2021.Note that benefits repaid after Decemcan only be deducted in the year in which the repayment is made. Once the form is filed, the CRA will automatically reassess the prior year return(s) and apply the deduction so the taxpayer does not need to request changes separately. Split the deduction between their 2022 return and the return for the year that they received the benefit.Deduct a repayment made in 2022 on their 2020 or 2021 return (depending on when they received the benefit) instead of their 2022 return, or.Request to deduct federal COVID-19 benefits repayment in a prior year: The CRA has created a new form - T1B Request to Deduct Federal COVID-19 Benefits Repayment in a Prior Year - for those who want to:. ![]() The following changes apply to 2022 T1 personal tax returns for individuals, which are generally due on May 1 this year (because April 30 is on a Sunday). ![]() WHAT’S NEW FOR 2022 PERSONAL TAX FILING SEASON? Changes for individuals The CRA has also released its T1 package for the 2022 tax year. Looking ahead, if we find out about other developments that you should consider when preparing personal tax returns, we’ll provide updates on our Canadian tax news webpage. Personal tax changes for individuals in 2023 and later years.Reminders about existing rules to consider when completing 2022 personal income tax returns.What’s new for 2022 personal tax filings for individuals, including self-employed people.In this blog, we highlight key considerations for this year’s filing season in the following areas:
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