2023. 1. 25. 19:21ㆍ■ 국제/CANADA
The 2022-2023 Canada Tax Brackets Are Out — Here's What It Means For Your Taxes (msn.com)
The 2022-2023 Canada Tax Brackets Are Out — Here's What It Means For Your Taxes
It changes every year, but only slightly. How nice!
www.msn.com
The 2022-2023 Canada Tax Brackets Are Out — Here's What It Means For Your Taxes
Between provincial taxes and federal taxes, it can feel like you're being pulled in eighteen different directions, all of which want your cold hard cash. Unfortunately, the best I can do for you is clarify Canada's income tax brackets for the coming filing period, which hopefully will help you come to terms with your impending taxation situation.
What are Canada's income tax brackets for 2022-2023?
As with Quebec taxes, Canadian taxes are marginal, meaning you'll pay a different rate on different amounts of income. For 2022, income above $50,197 but below $100,392 is taxed at 20.5%. Income between $100,392 and $155,625 is taxed at 26%, and income between $155,625 and $221,708 is taxed at 29%. Any income you made above $221,708 in 2022 will be taxed at 33%. For a full table of the tax brackets since 2020, visit the CRA's website here.
When should you start preparing to file your federal taxes?
You can prepare to file your taxes as early as now, as long as you have the required information from your employer. There are plenty of ways to file your federal taxes, including:
- "NETFILE and EFILE Certified tax software (electronic filing)
- Authorize a representative
- Community volunteer tax clinic
- Discounter (tax preparer)
- File my Return - Automated phone line (by invitation only)
- Tax filing assistance from a CRA agent"
When are Canadian taxes due?
Like every year, taxes should be due on April 30. This year, that date falls on a Sunday, so the true filing deadline is May 1, 2023.
Related video: Tax-filing season gets underway, with some changes (KPAX Missoula, MT)
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