Tax Bulletins
CLIENT UPDATE – Federal Budget 2022
April 8, 2022 On April 7, 2022 (Budget Day) Finance Minister Chrystia Freeland announced the budget, “A Plan to Grow Our Economy and Make Life More Affordable” (Budget 2022). Budget 2022 projects a deficit for the 2022-2023 year of $52.8 billion. The deficit is projected to decline to less than $10 billion over five years.…
Read MoreThings You Should Know for the Upcoming Tax Season
Registered Retirement Savings Plan (RRSP): Contribution deadline: March 1, 2022 Note: contributions made by this date can be deducted form your 2021 taxable income. Maximum Contribution Limit: $27,830 Your RRSP deduction limit for 2021 can be found on your 2020 Notice of Assessment. 2021 Combined Marginal Tax Rates – Federal and Provincial (approximates per https://www.taxtips.ca/taxrates/on.htm):…
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