The 2024 tax filing season comes with a few key changes for Canadians who work from home, sold a home or are saving to buy their first one.
Here are some of the significant changes to tax credits and deductions to be aware of, as well as the key dates to know for individuals and business owners.
When is the 2024 tax filing deadline?
Feb. 19 marks the first day the Canada Revenue Agency opens its portal to file for 2023 income taxes; and reminder, in the months ahead you’ll be filing for last year’s earnings as well as any deductions and contributions that will affect taxable income that year.
Individual Canadians have until April 30 to file their income taxes with the CRA.
For those who run their own business or who have a self-employed spouse, that deadline stretches to June 17 this year – delayed two days because the usual June 15 date falls on a Saturday.
But keep in mind that if you owe money to the CRA on your 2023 taxes, the deadline to pay that amount still falls on the earlier April 30 date, regardless of your employment status.
Source: https://globalnews.ca/news/10300435/2024-tax-season-changes-filing-deadline/