Preparing Your Income Tax Returns, 2023 Edition for 2022 Returns

File your returns with accuracy by staying up-to-date on recent tax changes with the most current tax preparation guide. Critically-acclaimed by tax professionals, Preparing Your Income Tax Returns is updated annually and provides the most comprehensive coverage and in-depth analysis of the rules for personal tax returns available.

Features & Coverage:

Why do tax professionals across Canada come back to Wolters Kluwer year-after-year? It's simple. We provide the most comprehensive tax resource available anywhere. Federal and provincial income and capital taxes are exhaustively detailed. Descriptions of forms and analysis of necessary information are organized by topic. Preparing Your Income Tax Returns will give you the professional expertise, confidence, and time-saving efficiency you need to deliver your best returns.

The 2023 edition for 2022 returns contains a special section on relevant filing tips regarding COVID-19 measures, as well as updated content reflecting the 2022 Federal Budget, Legislative Proposals from February 4, 2022, April 29, 2022 and August 9, 2022, and Bill C-19.

What's New in the 2023 Edition:

• Bill C-19 measures from Budget 2021, 2022 and other proposals, such as:

  • Labour mobility deduction

  • Increase to the Home Accessibility Tax Credit

  • Expansion of the Disability Tax Credit

  • Changes to the Climate Action Incentive program

  • Addition of post-doctoral fellowship income to the calculation of “earned income” for the purposes of RRSPs

  • Immediate expensing regime

  • Capital Cost for clean energy equipment

  • Technical amendments due to the creation of the Luxury Items Tax Act

• Legislative Proposals from February 4, 2022:

  • Mutual Fund Trusts — Allocations to Redeemers by Exchange Traded Funds

• Legislative Proposals from April 29, 2022:

  • Hybrid mismatch rules

• Legislative Proposals from August 9, 2022, including measures from Budget 2021 and 2022:

  • New Tax-Free First Home Savings Account

  • Increased Home Buyer’s Tax Credit

  • New Multigenerational Home Renovation Tax Credit

  • Residential Property Flipping Rule

  • Medical Expense Tax Credit for Surrogacy and Other Expenses

  • Investment Tax Credit for Carbon Capture, Utilization, and Storage

  • Clean Technology Tax Incentives — Air-Source Heat Pumps

  • New Critical Mineral Exploration Tax Credit

  • Flow-Through Shares for Oil, Gas and Coal Activities

  • Interest Coupon Stripping

  • Electronic Filing and Certification of Tax Information Returns

  • Fixing contribution errors in defined contribution pension plans

  • Mandatory Disclosure Rules

  • Taxation of Veterans’ and Active Service Members’ Benefits