2022 tax reminder: Deadlines and concerns to be aware of

As a reminder, several key deadlines are upcoming on May 1 (as April 30 falls on a Sunday):

• 2022 general T1 personal tax filing deadline
• 2022 personal income taxes due for all T1s (including self-employed individuals)
• October 31, 2022, corporate year-end T2 filing deadline
• Final corporate income tax balance due for January 31 or February 28, 2023, year-ends (when the balance is due three (3) or two (2) months after the taxation year ends, respectively)
• 2022 Underused Housing Tax filing deadline (see our Tax Alert for more details on this tax, including recent CRA announcements)

Additional consideration for the 2022 tax year

The Union of Taxation Employees and Public Service Alliance of Canada (PSAC), representing more than 35,000 Canada Revenue Agency (CRA) employees, voted in favour of taking strike action on April 7, 2023. While PSAC and the CRA are scheduled to resume negotiations through mediation from April 17 to April 20, there is still a possibility of a strike if these negotiations are unsuccessful or if a decision is made not to participate in the scheduled mediation meetings by either party. If the strike happens, CRA capacity will be reduced to essential services. The CRA has indicated they will not be extending the filing deadline for any returns regardless of the strike by these employees.

To date, little information has been released by the CRA on the extent of potential service disruptions should a strike take place. However, impacted services may include:

• Access to CRA call centres (personal and business) — e.g., for moving instalments, change of address, questions on tax slips, etc.
• Restricted access to drop boxes for paper filings at tax services offices
• Delayed processing of tax and information returns, election forms, authorization forms, and requests for clearance certificates (particularly those filed by paper)
• Delayed payment of income tax refunds

To minimize the impact of a potential CRA strike, it is recommended that you provide your tax information to your MNP Advisor so they may prepare and file your tax return(s) if you have not already done so.

Contact your MNP Advisor if you have any questions.