Are there any recent tax changes I should consider?
- Home office expenses. If you continued to work from home more than 50% of the time for a period of at least four consecutive weeks, you could claim $2 per day working from home for up to 250 days with no receipts or supporting information. Please include a note stating the number of days you worked from home.
- If you have an online Canadian journalism subscription, please let us know how much you paid in 2022. Then, we can claim a credit for up to $500. Although we don't need receipts, you should retain them if CRA later reviews the claim.
- The Home Accessibility tax credit for renovations that help Canadians stay in their home has increased for 2022. Canadians who are 65+ or disabled are eligible and can claim up to $20,000.
- A deduction of up to $4,000 is available for construction tradespeople and apprentices for temporary relocation costs.
- The federal medical expense tax credit has expanded this year to include amounts paid for several fertility treatments, including fertility treatments, donor banks and surrogacy costs.
- Self-employed people may also be able to claim refundable tax credits up to 25 percent of expenses to improve ventilation or air quality at their workplace.
- The Ontario Staycation Credit: This is a one-time tax credit for Ontarians who’ll be able to claim 20% of their stay in an Ontario hotel, cottage or campground during 2022 up to $1,000 individually or $2,000 as a family. We need a copy of the accommodation receipt, including an HST number.
- If you are a first-time home buyer, please be sure to let us know so we can claim the First Time Home Buyers Tax Credit.
- The Seniors’ Home Safety Tax Credit is a new credit that supports seniors in making their homes safer and more accessible, with a credit of 25% up to a maximum of $10,000 in eligible expenses. The maximum credit is equal to $2,500 per year.
- The Ontario Seniors Care at Home Tax Credit is a refundable personal income tax credit to help seniors with eligible medical expenses, including expenses that support aging at home. The credit equals 25% of your eligible medical expenses up to $6,000 for a maximum credit of $1,500.
- Labour Mobility Deduction (LMD): This new deduction allows tradespeople, apprentices, and employees working in construction to claim meals and lodging expenses paid to earn income at a temporary work location.