2023 Benefit Payment Dates
While the dates are not yet available on the Canada Revenue Agency site, it's a good time to remind Smart Canucks that on January 1, 2023 you may need to update your own personal payroll information on the TD1 forms at work via whoever does payroll or the payroll department. You could even print that form off the CRA site and prepare it at home to sign at the workplace in 2023. Make a copy for your own records too.
It looks like CRA is encouraging taxpayers to print off forms from their site but 2023 TD1s are not yet posted. Search Canada Revenue Agency - Canada.ca
Why? You may have a change in marital/common-law status, have changes to your minor dependents in your household, personal tax credits change based on age (once you turn 18 or 65-impacts your CPP contributions from your pays), have tuition credit claims or pension credit amount claims, or you moved to a different province where now you can claim a senior transit tax credit (Ontario, must be 65+ and have a registered transit card to make the claim) or have a job that allows you to claim a work-related supplies expense where you have to provide work clothes or school supplies, for example, that your employer does not provide but makes as a condition of your employment. And if your job suddenly provides or stops any medical coverage, your medical expenses that you claim will affect your non-refundable tax credit for medical costs not covered by an insurance plan.
Yes, if you moved prior to December 31 for residency reasons, you may even have a different tax package to use to reflect the changes in provincial or territorial tax benefits and credits.
Add the review to your late 2022/early January 2023 planner/agenda/smartphone calendar! :idea:
1 Attachment(s)
Climate Action Incentive payment amounts for 2023-24
Climate Action Incentive payment for 2023-24 benefit year begins in April with increased payments and three new provinces (NL, NS, PEI) receiving payments starting in July.
Attachment 377883
