What to know about tax-filing season

The deadline to file your taxes may feel like it’s far away, but experts say that not getting started early is one of the biggest mistakes Canadians make at tax season. Tax forms are shown in Toronto on Thursday, April 5, 2018. THE CANADIAN PRESS/Doug Ives

Gather your tax slips and receipts because it’s that time of the year.

The 2025 tax-filing season officially kicks off on Monday. It will last a little over nine weeks, ending with the April 30 deadline for most taxpayers.

Most employers send T4 slips by the end of February via mail, email or employee portals. Financial institutions will also send investment slips, while more sophisticated investment firms send their clients an annual summary of all investments and gains around the same time, said Ryan Minor, director of tax at CPA Canada.

If you’re anticipating owing money to the government, Minor said you may want to do some scenario planning. Additional contributions to your registered retirement savings plan could help lower that amount, as long as you have contribution room remaining.

Taxpayers have until March 2 to contribute to their RRSP for the 2025 tax year.

H&R Block tax specialist Yannick Lemay said it’s important to familiarize yourself with credits and deductions that are available.

There are more than 400 credits and deductions that Canadians may be eligible for at tax time, Lemay said.

“You want to make sure that you have those documents — and for most of those credits and benefits, you do need supporting documents,” he added.

Minor said there are some commonly missed tax credits, such as the disability tax credit.

“I’ve seen quite a few cases where that was filed and they got reassessments going back several years, and refunds,” he said.

He said it’s important to look at your own situation and check if there may be a credit you could claim, such as for first-time homebuyers or home accessibility, among others.

Minor said it’s important to set up and check your Canada Revenue Agency account and make sure you haven’t missed any slips or documents.

“If CRA has (a record of) something that you don’t have, then you should probably go and track down that slip,” he said.

The CRA My Account will also show your status for refunds, credits and appeals. Taxpayers can also find other information, such as when they’d get their direct deposit for a tax refund.

Even if you won’t file your taxes for a few more weeks, it’s worth checking that your address and other information are correct in the system while there’s time to get it fixed.

The CRA is introducing several changes this tax season.

One such change is that taxpayers won’t have to wait for days to be mailed a code when opening their CRA account, and can choose to verify their identity using online tools.

Agency spokesperson Charles Drouin said people can use a valid photo government-issued ID, such as a driver’s licence, as well as their last tax return, provided they filed taxes in the past two years.

The agency is also encouraging taxpayers to use its new AI-powered chatbot for questions.

For self-employed taxpayers, Minor said they need to figure out before April 30 if they owe money, even though the deadline for self-employed taxpayers to file their return is June 15. Despite the extra time to file their taxes, money owing must still be paid before the end of April to avoid accruing interest.

“You’ve got to make sure you do an estimate and pay your taxes even though you get extra time to file,” Minor said.

Experts say even as the tax portal opens, you don’t need to rush to file.

Minor said sometimes people don’t receive all their tax slips, such as those for trusts, until March.

How early you file depends on your confidence that you have everything you need, he said. For example, if it’s a simple situation of just a T4 and you’re expecting a refund, there’s no harm in filing early.

This report by The Canadian Press was first published Feb. 23, 2026.

Ritika Dubey, The Canadian Press