When you can start filing?🕐
At this point you started compiling documents already. Good for you. The start date to start filing is Feb 19, 2024. Just wait until you have all your documents from your employer, contractor, bank institutions, charities, political parties, your pharmacy!
When you can start sending us your documents?🕐
As soon as you are ready! Please let us know of any changes: new babies, new houses, if your marital status has changed, etc.
When is the last day to send your documents?🕐
We are closing on April 15, 2024! Please get ready before the due date. We will be contacting our clients.
How you can send us the documents? 🤷♀️
Go to our website: www.dcastro.ca and Click on the CLIENT PORTAL button, you will be directed to the E-courier.ca 📲 message, just type your email address, a description and attach your documents. And say Hi!!
We use E-courier as our SECURE deposit box to keep all your documents safe and secure. All your messages are processed by encrypted email and files are kept confidential, because your privacy is important to us! No password required to send the documents and you will get a confirmation message as soon as we receive the message and when is opened.
All our processes are Online, from receiving documents, to preparing, sending back for review, signing and filing. We use encrypted and secure emails.
What's new for the 2023 tax season?
The main changes are:
- Disability tax credit – For 2021 and later tax years, an individual diagnosed with type 1 diabetes is deemed to have met the two times per week and an average of at least 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 for the 2022 taxation year.
- Labour mobility deduction – 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.
- Medical expense tax credit (for surrogacy and other expenses) – The list of eligible medical expenses has been expanded to include amounts paid to fertility clinics and donor banks in Canada to obtain donor sperm or ova to enable the conception of a child by the individual, the individual’s spouse or common-law partner, or a surrogate mother on behalf of the individual.
- Request to deduct federal COVID-19 benefits repayment in a prior year – You are able to claim any benefits repayment you made in 2023. 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).
- Increase in unpaid tax penalty: From now on the penalty for unpaid tax after the due date (April 30) is 10% + 2% of the blance for each month you are late!
Solution? 👉 File on time and save the regular amount you have to paid to keep the costs down!
- Tax brackets have changed due to inflation: In an attemp to account for inflation and the rising of cost of living the federal tax brackets and various contributions and limits have been increased. The Basic Personal amounts for 2023 is now $15,000. These changes mean that Canadians may get a bigger refund and they may be paying less taxes as they went lower on the previous year's tax brackets.
- The COVID "work from home" expense is not longer available
To help you compile the documents we added the 2023 Personal Tax Checklist with the documents you may need to prepare and file.
Be proactive, send us a message today to secure your spot!