Tax Deadlines

Reminder: There are several key deadlines approaching on May 1st, 2023 (since April 30th falls on a Sunday): 

• 2022 T1 personal tax filing deadline
• 2022 personal income taxes payment deadline for all T1s (including self-employed individuals)
• If you're corporations fiscal year-end is October 31, 2022, the corporate year-end T2 filing deadline is May 1, 2023 (6 months after the end of your corporations fiscal year)
• 2022 Underused Housing Tax filing deadline

Additional Considerations

The Union of Taxation Employees and Public Service Alliance of Canada (PSAC), who represent more than 35,000 employees of the Canada Revenue Agency (CRA), have recently voted in favour of a strike action scheduled for April 7, 2023. Although PSAC and the CRA are set to resume negotiations through mediation from April 17th to April 20th, there is still a possibility of a strike in case these negotiations are unsuccessful or either party decides not to participate in the scheduled mediation meetings. In the event of a strike, CRA's capacity will be limited to essential services, and the filing deadline for any returns will not be extended by the CRA, regardless of the strike by these employees.

Although the extent of potential service disruptions in case of a strike is not yet clear, it is expected that the following services may be impacted:

• Access to CRA call centres (personal and business) for services such as tax instalments, change of address, and questions on tax slips etc.
• Restricted access to drop boxes for paper filings at tax services offices
• Delayed processing of tax and information returns, election forms, authorization forms, and requests for clearance certificates (particularly those filed by paper)
• Delayed payment of income tax refunds

To minimize the impact of a potential CRA strike, it is advisable to provide your tax information to Versa  as soon as possible so they can prepare and file your tax return(s). This way, you can avoid any potential delays or disruptions caused by the strike.

For any questions or concerns, don't hesitate to reach out to Versa for assistance.