Tax Season Is Officially Open
It’s time to pull out those tax slips.
The 2025 tax-filing season begins today and runs just over nine weeks. For most Canadians, the deadline to file is April 30. While that date may seem far away, tax experts say waiting too long is one of the biggest mistakes people make.
Getting organized early can prevent stress later.
Watch for Key Slips
Most employers issue T4 slips by the end of February. These arrive by mail, email or through online employee portals. Banks and financial institutions also send investment slips around the same time.
Ryan Minor, director of tax at CPA Canada, says some investors may receive detailed annual summaries covering gains and losses. Therefore, it’s important to gather every document before filing.
If you are missing a slip, check your online account with the Canada Revenue Agency (CRA). If the CRA has a record of something you do not, track it down before submitting your return.
RRSP Deadline Is March 2
If you expect to owe money this year, now is the time to plan.
Additional contributions to your registered retirement savings plan (RRSP) can reduce taxable income — provided you still have contribution room. The deadline to contribute for the 2025 tax year is March 2.
A last-minute contribution could shrink your tax bill. However, make sure the numbers make sense for your situation.
Don’t Miss Out on Credits
There are more than 400 credits and deductions available to Canadians.
Yannick Lemay, a tax specialist with H&R Block, says many people overlook benefits simply because they do not know they qualify. Credits such as the disability tax credit, first-time homebuyers’ credit or home accessibility expenses can make a significant difference.
Supporting documents are essential. Therefore, keep receipts and paperwork organized.
Minor notes that some taxpayers have received reassessments and refunds going back several years after claiming overlooked credits.
Check Your CRA My Account
Before you file, log in to your CRA My Account.
The portal shows refund status, direct deposit details, benefits information and any notices. It also lists tax slips the CRA has on file. If your address or banking details are outdated, update them now to avoid delays.
New Changes This Year
The CRA has introduced several updates for 2025.
Taxpayers can now verify their identity online without waiting for a mailed security code. A valid government-issued photo ID, such as a driver’s licence, along with a recent tax return may be enough to complete the process.
The agency has also launched an AI-powered chatbot to answer common questions, aiming to streamline support during peak filing weeks.
Self-Employed? Read This
Self-employed Canadians have until June 15 to file. However, any taxes owed must still be paid by April 30 to avoid interest charges.
That means you should estimate your balance owing well before the end of April. Filing later does not delay payment deadlines.
No Need to Rush — But Don’t Delay
Although the filing portal is open, you do not have to submit immediately. Some slips, such as trust documents, may not arrive until March.
If your tax situation is simple — for example, a single T4 and an expected refund — filing early is usually fine. However, if your finances are more complex, waiting until all documents arrive is wise.
In short, tax season has begun. The earlier you organize your paperwork and review your options, the smoother the process will be.
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