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WEALTH SENSE TAX - 2022
Taxes are a reality of life in all countries of the world. We can plan strategies to defer and avoid taxes but we cannot neglect to file by each year's deadline.
Compiled below are some basic and prevalent tax information to help you better understand and prepare personal taxes in Canada. This is far from exhaustive so be sure to seek professional counsel from a tax specialist.
A printable PDF version is available at the bottom of the page.
2022 Federal Marginal Tax Rate Brackets
up to $50,197: 15%
$50,197 to $100,392: 20.5%
$100,392 to $155,625: 26%
$155,625 to $221,708: 29.38%
over $221,708: 33%
2022 RRSP Contribution Receipts
Contribution made first 60 days of 2022: Received by end of March 2022
Contribution made in remainder of 2022: Received by end of January 2023
Contribution made in first 60 days of 2023: Received by end of March 2023
Common Tax Slips & Reports
T5 (RL-3)
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Reports dividends, interest and foreign income in a non-registered account
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Mailed by February 28, 2023
T3 (RL-16) and Summary of Trust Income
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Reports trust income in a non-registered account
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Mailed by March 31, 2023
T5008 (RL-18) and Trading Summary
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Reports realized gains and losses in a non-registered account
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Mailed by February 28, 2023
Investment Income Summary
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Reports dividends, received and paid interest, foreign income and fees in a non-registered account
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Mailed by February 28, 2023
T5013 (RL-15)
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Reports limited partnership information
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Mailed by March 31, 2023
T4RSP (RL-2)
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Reports withdrawn income from an RRSP account
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Mailed by February 28, 2023
T4RIF (RL-2)
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Reports withdrawn income from a RRIF account
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Mailed by February 28, 2023
T4A (RL-1)
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Reports withdrawn income from an RESP or RDSP account
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Mailed by February 28, 2023