2023 tax credits, due dates and when you can file: Your 2023 income tax return guide Apr 9th

All about Canadian investments. Learn the ins and outs and get the latest news.
Latest News

The best high-interest savings accounts in Canada for 2025 + MORE Jan 26th

Savings comparison tool Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance. Advertisement Why trust us MoneySense is an.... More »
 IPO

Gemini is exiting the Canadian market, plus more crypto news + MORE Oct 9th

Welcome to the Canadian Crypto Observer. In this new monthly column, financial journalist and author Aditya Nain will offer perspective on market-moving headlines to help Canadian investors navigate the cryptocurrency market. Regulators sound a wake-up call to crypto exchanges Gone are the day.... More »

BMO, Scotiabank top earnings forecasts but sound wary note for road ahead - The Globe and Mail Aug 27th

BMO, Scotiabank top earnings forecasts but sound wary note for road ahead  The Globe and MailCanada’s Big Banks Expected to See Revenue Boost From Solid Capital Markets  The Wall Street Journal'Uncertainty meter has gone down': Bank execs hope for economic 'green shoots' after .... More »
investment

The best Visa credit cards in Canada for 2025 Apr 4th

Visa credit cards are some of the most widely accepted credit cards in Canada and abroad. And given Visa’s vast selection of cards, it’s easy to find one that suits your needs. So, which should you choose? MoneySense’s guide to the best Visa credit cards in Canada will help you decide.  .... More »

Warning to caregivers: Expect a scavenger hunt Feb 24th

This story is part 3 in a series on financial caregiving for seniors. Read others in this series: 3 signs you need to take control of your parents’ finances Caring for a parent? Get a power of attorney Before my father was diagnosed with dementia, I had a 30,000-foot awareness of my f.... More »
You’ll want to bookmark the MoneySense guide for 2023 personal income taxes. We will be updating it frequently, as information becomes available and deadlines approach. Plus, we get answers from the experts you won’t find anywhere else, thanks to our Ask MoneySense and Ask A Planner columns. But, first, let’s look at the upcoming deadlines.

What’s new for taxes?
New alternative minimum tax changes: As of January 1, 2024, the AMT rate is 20.5% (previously 15%). Essentially, the AMT is a minimum level of tax for Canadians who claim certain deductions, exemptions and/or credits to reduce how much personal income tax they pay. The change doesn’t apply to 2023 income tax returns, though, and thankfully it doesn’t apply to most Canadians.

Deadline extended for underused housing tax (UHT): For residential property owners with vacant or underused real estate who owed the UHT from their 2022 income tax return and have yet to pay it, know that the Canada Revenue Agency (CRA) extended the due date to April 30, 2024, with penalties waived…

Continue Reading On moneysense.ca »

Share

PinIt
Compare insurance quotes through Kanetix.ca - save time and money!