Tax Information

Filing Deadline

  • Individuals April 30, 2023 

  • Self - Employed June 15, 2023

Basic Personal Amount: the amount of income an individual can earn without paying any federal tax

  • For the 2022 tax year $14,398

  • For the 2023 tax year $15,000

RRSP

  • Contribution Deadline March 01, 2023

  • Contribution Limit: 18% of earned income to a maximum of $29,210 for the 2022 tax year, and $30,780 for the 2023 tax year. 

Tax Free Savings Account

  • 2023 Contribution limit $6,500

  • 2022 Contribution limit $6,000

  • Cumulative TFSA Limit $88,000

First Home Savings Account

  • Annual limit $8,000

  • Lifetime contribution limit $40,000