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Tax Season 2023

March 1, 2023-April 30, 2023 at 11:59:59pm (“midnight”)

2022 was a scary year. We thought 2021 was bad, but whoa – 2022?! Russia struck war on Ukraine and flung the world on its knees. Businesses fled this offender like the plague. Multiple embargoes were launched and allies and foes determined. The supply chain was injured and goods and services stopped moving. Economic hazards and consequences took flight.

Interest rates, prices and cost of living rose significantly. Wages rose, yes, but nothing compared to the cost of inflation. We expect it to get worse before it gets better. Global leaders are changing, wars are increasing in size, and lessons from our past are being ignored. Human Rights are being ignored or trampled upon in too many nations. The world is in disarray.

Economic Mitigation

Interest rates launched during 2022. The dip in housing prices lured many to purchase their dream homes in 2021, but the vault in interest rates during 2021 left many struggling to make mortgage payments. Foreclosures rose. Historically, interest rates rose considerably after global medical and social disruption. It was 1968 that started the economic ball rolling towards the 25% mortgage interest rates of the 1980s. We are entering 2023 and are facing a very similar economic pattern. Don’t be surprised when interest rates rise multiple times per year until Canada has fully recovered from the pandemic. The powers that be are indicating the end of the pandemic is on the horizon, but we are not there yet.

Taxes 2023

Let’s get to the nitty gritty on those income taxes. Tax season runs from late February to April 30, 2023. It is *always* best to get your taxes filed as close to the beginning as possible.

*sage advice* Don’t leave it to the last minute. It is important to leave a little extra time just in case there are questions for which you need to dig to find answers. It happens. Every year, it happens.

So – where and how do you get started?

The Easiest Route
1. Call CityCat at 250-592-1313
2. Sign to Authorize CityCat at Level 2 on a T1013 (Greek lingo for “Authorization to Represent”)
3. Sign a T183 (more Greek lingo meaning “submit via efile for me”)

That’s it. You’re done. No more steps to follow. You can relax and wait 2 weeks before your pockets are potentially filled with mega-bucks. Easy, right? It’s the easiest.

BUT… What if you haven’t filed 2020, 2019 or 2018 yet? 2017? Or 2016? Or any other year…. We can help. Give us a shout and we will get you caught up.