Tax Season 2025 Is Here

As we enter February we are officially entering tax season for many. T4 and T4A's will start to roll in and many will start to prepare their tax returns. For some this can be stressful time, but following some simple tips and advice from the Canadian Revenue Agency (CRA) will help make your filing smooth and simple.

Tips For Filing Your Tax Returns

Regardless if you are filing your taxes your taxes yourself or using an accountant to process and file everything for you, following these tips will help you file in a smooth and timely manner.

Update Your Personal Information: In order to ensure you continue to receive the tax benefits and credits you are eligible for, it is important to ensure all your personal information on file is correct. If you have moved, gotten married, or even changed your phone number, make sure to update your information BEFORE you file your tax return. You can do this easily online in your CRA Account, so be sure to update all that info before filing this year.
Your Tax Slips: Your slips are prepared by your employer, payer, administrator, or financial institution and should be received by the end of February. Sometimes our slips are late or lost, don't panic. Those slips are sent to the CRA as well and can view most of your tax slips online in your CRA Account.
Digital and Online Filing: If you use an accountant or other tax professional to complete and process your tax filing, you can keep on reading. For those who do it themselves, make sure you are up-to-date on certified ways to submit your filing, including some free options. This tax season the CRA has an online chat with live agents to answer questions and will provide wait times so you can get in the queue and do other tasks in the meantime.
Scams and Fraud: Scammers and fraudsters utilize the stress and fear some have over tax season to run their scams often pretending to be the CRA. When the Canada Revenue Agency (CRA) calls you, their employee will identify themselves by giving you their name and a phone number to call back. Never call the phone number that was given to you unless you have verified it yourself with the CRA. You can use the tool on their website to verify the number. Verify if it’s a CRA phone number

When are Canadian Taxes Due in 2025

Your 2024 tax filing can begin online on February 24, 2025. Most individuals must file their return and pay any amount they owe by April 30, 2025 or will owe late-filing penalties and interest. If you are self-employed you must file by June 15, 2025. As this is a Sunday, the CRA will consider your return filed on time if it is received on or before June 16, 2025. It is important to note that if you owe money, you'll still need to pay by April 30, 2025 to avoid interest.

For more information from the CRA, visit their Tax Tips page here.

Content courtesy of Canadian Revenue Agency; https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2025/stress-free-filing-starts-now-here-are-five-easy-ways-help-you-get-ready-for-tax-season.html

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