It is significant to note that if a taxpayer chooses the new tax system, they will not be able to take advantage of deductions like Section 80C, Section 80D, and others.
The Quebec government is tabling its 2023 budget Tuesday and, if the CAQ keeps an election campaign promise, it should include a tax cut for many Quebecers. A tax cut was the core commitment in the CAQ's proposed "anti-inflation shield," a set of measures aimed at capping government fees and giving residents an infusion of cash.
As tax season fast approaches, navigating this time of year is no easy feat and with new changes outlined by the Canada Revenue Agency it can sometimes feel too overwhelming. We’re making tax season a little bit easier for you to deal with a list of the newly announced changes that could affect your 2022 taxes.