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The Canadian income tax year is from January 1 to December 31. If you owe income tax, you must pay it by April 30 for the previous calendar year.

Canada's federal income tax rates for the 2023 Tax Year Tax RateTax BracketsTaxable Income15%on the first $53,359$53,35920.5%on the next $53,358$53,359 up to $106,71726%on the next $58,713$106,717 up to $165,43029%on the next $70,245$165,430 up to $235,6751 more row • Nov 3, 2023

OMB Circular No. A–94 provides guidance on benefit-cost analysis and cost-effectiveness analysis of Federal spending. The new Circular is available at https://.whitehouse.gov/​wp-content/​uploads/​2023/​11/​CircularA-94.

The IRS requires you to claim your gambling winnings on your federal income taxes. When you receive a Form W-2G, it will list your winnings as well as any federal tax withholdings. If you won more than $5,000, the gambling establishment may have already withheld 24% for taxes.

2023 Federal income tax brackets Federal tax bracketFederal tax rates$53,359 or less15.00%$53,360 to $106,71720.50%$106,718 to $165,43026.00%$165,431 to $235,67529.00%1 more row

The Form 1099-DIV is used by the Service to insure that dividends are properly reported as required by Code section 6042 and that liquidation distributions are correctly reported as required by Code section 6043, and to determine whether payees are correctly reporting their income.

The next online tax season is for Tax Year 2023; Tax Year 2023 is from January 1 until December 31, 2023. Prepare and e-File 2023 Tax Returns from January 2024 through October 2024. This page is being updated for Tax Year 2023 as the forms, schedules, and instructions become available.

Your tax return covers the income year from 1 July to 30 June. If you need to complete a tax return you must lodge it or engage with a tax agent, by 31 October.