We always want to educate our clients and keep them in the loop on Canadian tax changes! So with that said, here are 7 Canadian 2023 tax changes and factors that you may want be aware of:
1. New tax brackets. 2. Basic personal amount increase. 3. First-time Home Buyers' Tax Credit doubled. 4. Old Age Security income limits changed. 5. Canada Pension Plan earning and contribution increase. 6. RRSP dollar limit increase. 7. COVID-19 benefit repayment.
If you are interested in discussing any of the specifics and finding out how they may impact you, please contact our team today. If you would like our assistance with your tax filing this year, we can help with that too! Just let us know and we'll be glad to help.