Tax Information


Filing Deadline

  • Individuals: April 30, 2024 

  • Self - Employed: June 15, 2024

  • Deadline to pay your taxes: April 30, 2024 * Including those are who self employed  

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

  • For the 2023 tax year $15,000

RRSP

  • Contribution Deadline: February 29, 2024

  • Contribution Limit: 18% of earned income to a maximum of $30,870 for the 2023 tax year, and $31,560 for the 2024 tax year. 

Tax Free Savings Account

  • 2024 Contribution Limit: $7,000

  • 2023 Contribution limit: $6,500

  • 2022 Contribution limit: $6,000

  • Cumulative TFSA Limit: $95,000

First Home Savings Account

  • Annual limit: $8,000

  • Lifetime contribution limit: $40,000