What's New For Tax Year 2022?
Tax law changes that affect most taxpayers:
- Request to deduct federal COVID-19 benefits repayment in a prior year
By default, your repayment will be deducted on your 2022 tax return.
You may use form T1B, Request to Deduct Federal
COVID-19 Benefits Repayment in a Prior Year, to request to have the
amount of federal COVID-19 benefits that you repaid in
2022 deducted on your 2020 or 2021 return or split
between your 2022 return and the return for the year that
you received the benefit. The CRA will then automatically
reassess your return(s) to apply the deduction so that you
do not need to make a separate request to change your
prior year return(s).
- Air quality improvement tax credit
If you were self-employed or a member of a partnership in
2022, you may be eligible to claim a refundable tax credit
equal to 25% of your total ventilation expenses to improve
ventilation or air quality at your place of business.
- Disability tax credit
For 2021 and later tax years, an individual diagnosed with type 1
diabetes is deemed to have met the two times and 14 hours per
week requirements for life-sustaining therapy.
- First-time home buyers' tax credit
The amount used to calculate the first-time home buyers'
tax credit has increased to $10,000 for a qualifying home
purchased after December 31, 2021.
- Home accessibility tax credit
The annual expense limit of the home accessibility tax
credit has increased to $20,000.
- Labour mobility deduction for tradespeople
The labour mobility deduction provides eligible
tradespeople and apprentices working in the construction
industry with a deduction for certain temporary relocation
expenses. Eligible individuals may be able to deduct up to
$4,000 in eligible expenses per year. If you are eligible, use form T777 to claim this deduction.
Provincial Tax Changes
Changes have been made to the education property tax credit, seniors school tax rebate and school tax credit for homeowners.
The renters tax credit is a new refundable credit for renters of residential properties. This replaces the renters component
of the education property tax credit.
- Nova Scotia
A new refundable tax credit - children's sports and arts tax credit, has been introduced.
You can claim fees paid in 2022 that you or your spouse or
common-law partner paid to a person or partnership for the
registration or membership of a qualifying child in an
eligible program or a club, association, or similar
organization, whether inside or outside of Nova Scotia.
The maximum amount that can be claimed for 2022 is
$500 per child.
The temporary Ontario seniors' home safety
tax credit and Ontario jobs training tax credit has been extended for 2022.
A temporary, refundable Ontario staycation tax credit has
been introduced for individuals or families who have
qualifying expenses for leisure accommodation in Ontario
in 2022. Ontario residents can claim a credit for 20% of their
2022 qualifying expenses for leisure accommodation in
Ontario of up to $1,000 as an individual or up to $2,000 as
A refundable Ontario seniors care at home tax credit has
been introduced to help low- to moderate- income seniors
with their cost of eligible medical expenses. Tax Chopper calculates this credit
automatically based on your age and income.
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