The complete guide to saving money on your taxes in 2023

It’s tax season again. You may still be collecting your T4 slips or have already hired an accountant, but there are always more tips and tricks you can learn before the May 1 deadline to file your taxes.

This year, we asked tax experts to share all of their secrets. Whether you’re a new investor, a newcomer, or a soon-to-be retiree, we have the tax tips you need.

Nine of the biggest tax mistakes people make

Filing taxes can involve a lot of paperwork and information that you might have forgotten if you don’t plan ahead, and a lack of preparation can lead to mistakes.

Globe reporter Salmaan Farooqui asked Canada Revenue Agency spokesperson Charles Drouin and other experts to talk about some of the most common errors that people make on their tax returns.

Read the list of the biggest mistakes people make when filing their taxes.

Six tax changes that you should know about

Filing taxes would be complicated enough if the rules around them didn’t change every year. Some of the biggest changes this year include:

• First-time home buyers’ credit
• Labour mobility deduction
• Changing tax brackets

See what other changes to look out for in your 2022 taxes.

Tips for newcomers to Canada filing their taxes for the first time

Moving to a new country and dealing with brand-new tax rules can be a dizzying experience. Tara Benham, national tax leader at Grant Thorton, goes through some basic and not-so-basic tips for people new to the Canadian tax regime.

From worldwide income to foreign investments and dependents abroad, this is a fulsome introduction to filing taxes in Canada for the first time.

These tax strategies can help retirees save thousands of dollars each year

Retirement is a time of massive changes, and taxes are one of many things that’ll change drastically. Tax experts say it’s imperative to create a plan years before your retirement to organize your savings in a way that minimizes your tax exposure.

Simply put, if you’ve never used the services of a tax expert before, you should consider it in the years leading up to retirement. An effective strategy that splits income between you and your partner can save tens of thousands of dollars in tax payments per year.

See what tips and strategies you can put in place to save thousands of dollars a year in retirement.

New to investing? Here’s what you need to know about filing your taxes

The COVID-19 pandemic ushered in a new era of investing as Canadians spent long periods living with lockdowns that limited their expenses. Whether it’s crypto or day trading, many people turned to investing as a way to use unspent money.

That’s all well and good, but investing comes with its own tax rules as well. Experts offer some tips for newbies to the markets.

Eight overlooked and obscure tax credits you should know about before filing

There are endless tax benefits targeted at all sorts of demographics, and tax experts don’t blame you for not always knowing which ones apply to you. Tax policy is a complicated stew of relief for a diverse population.

Here’s a list of some of the obscure or most forgotten tax credits and relief according to the Canada Revenue Agency and other tax experts

More tax tips: