The first day you can file your 2025 income tax and benefit return online is February 23, 2026.

Before you file:

1. Make a list of any changes to marital status, dependants, caregiver information as well as any transfers like DTC or tuition.
2. Make sure you have all your tax slips.
3. Most tax slips are sent by employers and banks by the end of February.
4. If you have an account with the Canada Revenue Agency (CRA), you can also get copies of your slips there once they are available.
5. If you still don’t have your slips by the end of March, contact the company that issued them. We find investments T3/T5 are usually the latest slips.
6. Filing early helps you avoid the last-minute rush and delays.

Important deadlines:

1. April 30, 2026 – Deadline for most people to file and pay any taxes owed. Filing and paying on time helps you avoid penalties and interest.
2. June 15, 2026 – Deadline to file if you are self-employed. If your spouse or partner is self-employed, this deadline also applies to you.
3. April 30, 2026 – If you owe taxes, pay by then to avoid interest.

What’s new with digital services:

1. Regain access online: You can now recover your CRA account online if you forget your sign-in details.
2. Backup MFA required: Starting February 2026, you’ll need a backup multi-factor authentication option for better security.
3. Authorizing a representative: Representatives must request access online, and you can approve it in your CRA account.
4. Tax slips: Paper copies can no longer be requested by phone. Get them from the issuer or online.
5. Notice of Assessment: Available digitally in your account after your return is processed.
6. NETFILE access code: You can easily find it in your CRA account when filing online.
7. Manage balance: Set up payment plans online if you owe $1,000 or more.
8. GenAI chatbot: Available 24/7 on Canada.ca to help answer questions.
9. Improved web pages: CRA is updating pages to make information easier to find.

What’s new on the tax return:

1. Tax rate change: The lowest personal tax rate drops from 15% to 14.5% for 2025.
2. Top-up tax credit: A new credit helps keep some non-refundable credits at a 15% value.
3. Fuel charge credit for farmers: The 2024–2025 credit will be the final one available.
4. Disability supports deduction: More expenses are now eligible.
5. Carbon credit is removed from your return.

Need help with your personal or business tax returns? We’re here to help. Call or email me! 905 244 0076 or michelle@workwisenothard.ca

What you need to know for the 2026 tax-filing season