2023 Tax Deadline & Rates
(*Tentative deadlines subject to CRA changes with further notice)
2023 Ontario Payroll Rates
2023 Combined Federal & Ontario Tax Brackets
2023 Interest rates for the first calendar quarter
2023 Ontario automobile mileage and deduction rates
The ceiling for capital cost allowances (CCA) for Class 10.1 passenger vehicles will be increased from $34,000 to $36,000, before tax, in respect of vehicles (new and used) acquired on or after January 1, 2023.
The ceiling for CCA for Class 54 zero-emission passenger vehicles will be increased from $59,000 to $61,000, before tax, in respect of vehicles (new and used) acquired on or after January 1, 2023.
Deductible leasing costs will be increased from $900 to $950 per month, before tax, for new leases entered into on or after January 1, 2023.
The maximum allowable interest deduction for new automobile loans of $300 per month will remain the same for 2023.
This is article is written only for general information and broad guidance. Please contact our office to discuss about your specific circumstances. We are not responsible for any damage resulting from your reliance on the information in this article.