With the beginning of the New Year, our team has listed some important dates and numbers to remember to ensure you meet all your wealth planning needs. Please feel free to bookmark this page and refer back to it throughout the year.
Deadline to declare occupancy status for ‘Vacant Home Tax’: February 2, 2023
2022 RRSP Contribution Deadline: March 1, 2023
2023 TFSA Contribution Limit: $6,500
2023 RRSP Contribution Limit: 18% of earning income to a maximum of $30,780
Eligible Retiring Allowance to transfer to RRSP without affecting contribution room: March 1, 2023
Deadline for filing 2022 personal income tax: May 1, 2023
Deadline for paying tax owing: May 1, 2023
Deadline for filing 2022 taxes for self-employed: June 15, 2023
New Account for First Time Home Buyer (First Home Savings Account): Sometime in 2023
Please reach out to your advisor if you have any questions about the above deadlines and contribution limits. It is important to report on time and to avoid over-contributing, which may lead to penalties.