Important Updates
-
The filing deadline for 2025 personal tax returns is April 30, 2026.
-
Sole Proprietorships & Self-Employed (T1)
-
Filing Deadline: June 15, 2026.
-
Payment Deadline: April 30, 2026.
-
Interest begins accruing on any unpaid balance starting May 1, 2026, even if you file by the June deadline.
-
Canada Groceries and Essentials Benefit
A new benefit starting in July 2026 that replaces and increases the former GST/HST credit by 25% for five years. A one-time 50% top-up payment is also scheduled for eligible recipients by June 2026.
Canada Disability Benefit
Launched in June 2025, this provides up to $2,400 per year ($200 per month) for working-age Canadians with disabilities who qualify for the Disability Tax Credit.
Canada Carbon Rebate (CCR) Changes
The federal government stopped the consumer fuel charge and the associated quarterly rebate for individuals as of March 15, 2025. Final payments were issued in April 2025 to those who filed their 2024 tax returns.
Middle-Class Tax Cut
Effective July 1, 2025, the lowest individual income tax rate was reduced from 15% to 14%. Because it started mid-year, the effective rate for the 2025 tax year is 14.5%, becoming a full 14% for 2026.
Top-Up Tax Credit
A new non-refundable credit introduced for the 2025–2030 tax years to ensure that individuals claiming large tax credits (like high tuition or medical expenses) don't lose the full value of those credits due to the new lower 14% tax rate.