2023 Tax Season Wrap - Up

We’ve wrapped up another tax season and wanted to share our many thanks to everyone. On behalf of Reschke Fritz LLP, we want to give a big shout out and many thanks to our team for putting in the many and long hours to get us to the end, with smiles on the whole way. We also want to thank our clients who have worked with us and we appreciate and value your continued patronage with us.

The personal tax filing deadline this year was May 1, 2023 with April 30 landing on a weekend. However, there’s still time for self-employed individuals. Any taxes owing were still required to be remitted by May 1, 2023, but the extended filing deadline is June 15, 2023. For the self-employed, generally no penalties will be assessed if the tax return is filed before June 15, 2023. This is the same for self-employed GST. Interest is accrued after this date until payment is made.

This year there is also now another tax return for some that will need to be filed, called the Underused Housing Tax (UHT). This was originally due for filing on April 30, 2023. However, the Canada Revenue Agency (CRA) has extended the deadline to waive Interest and penalties if filed by October 31, 2023. We are monitoring for any changes that the CRA might be making regarding this, and will be following up with our clients in order to ensure filing is made on time.

Please reach out if you have any questions or concerns. Thanks again to everyone involved, and we look forward to the rest of the upcoming year!