17 Big Tax & Benefit Milestones in April

Mark your calendar for 17 big tax and benefit milestones in April! Prescribed interest rates from the Bank of Canada remain the same this quarter, but new rates for OAS are in effect. Check out the details below:

Apr 1: The monthly benefit ranges from just over $700 for those age 65 to 74 to just under $800 for those 75; 36% more for those who chose to postpone the OAS between 65 and 70.  It is therefore critical to preserve this universal, indexed but taxable benefit as a hedge against inflation. 

Maximum payments and income thresholds

Apr 2:    T3 Trust Returns (other than bare trusts), T1-OVP Return Filing Deadline

Apr 5:     GST/HST Credit

Apr 10:   Bank of Canada Interest Rate Announcement

Apr 15:   CCR- Canada Carbon Rebate - now 20% for rural residents

Apr 15:   US tax filing deadline.  US persons in Canada Tax filing, Form 8938, 4868.  The 2023 deadline:  April 17

Apr 19:   CCB payment

Apr 26:   CPP, OAS, GIS benefits payment date

Apr 29:   Canada Veterans’ Disability Benefit payment date

Apr 30:   Usual T1 individual tax filing deadline; Also file:

• Form T1135, Foreign Income Verification Statement
• Late elections for pension income splitting for 2020 expire April 30, 2024
• OVP-ALDA Individual Tax Return for Excess Transfers to Purchase an ALDA is due.
• 2900 for Underused Housing Tax for Calendar Year ending December 31, 2022 and December 31, 2023.
• T400A: Notice of Objection File on the later of one year after filing due date or 90 days after receipt of Notice of Assessment or Reassessment or Determination
• New CRA Service Feedback Form RC193 – Submit a complaint or suggestion online: canada.ca/cra-service-feedback
• Deceased Taxpayers:Died Jan. 1 to Oct 31 - file by April 30

Note: Electronic signatures are now accepted on Forms T2200 Declaration of Conditions of Employment and T1223 Clergy Residence Deduction