Why do I need to file my taxes?
Filing your taxes is a requirement for all Canadians. If you don’t, you’ll lose access to payments you may be eligible for such as social programs, HST rebates, climate rebate, child benefit payments, age pension, until your tax returns are filed and up-to-date. Most of these programs start in July (after income taxes have been reported for April 30).
Where do I find all the slips I need to file my taxes?
One of the hardest things these days is locating your tax documents. (Very few are mailed through Canada Post) and you need to chase the tax documents through Log Ons for work (T4) Service Canada (T4E), Banks (T5+ RRSP) Investment Accts (T3, T5 RRSP). But there is an easier way. Create a “My Account” through Revenue Canada and get a copy of all tax documents with your Social Insurance Number.
Overview of Changes for Tax Year 2025
First -time home buyers’ GST Rebate First-time home buyers who enter into an agreement to purchase and sale after March 19, to purchase an eligible newly constructed home could qualify for this new rebate of up to $50,000
Other Highlights
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- The lowest personal income tax rate are decreased from 15% to 14.5% for 2025 an to 14% for 2026
- Corporate income tax rate are unchanged
- Capital gains inclusion rate: planned increased cancelled, inclusion rate remains at 50%
- Canada Disability Benefit – Max deduction on income to $2,499 per year
- Carbon Rebate ended in March 2025
- Digital Newspaper rebate ended in 2025
- Canadian Dental Care Plan (CDCP) provides subsidized dental coverage for households with incomes under $90,000. For 2025 family incomes under $70,000 no co-payments: $70,000 – $79,000 – 40% co-payment; $80,000 – $89,000 – 60% co-payment. Eligibility is based on having no access to an employer benefits or a private plan. The program is run by Service Canada. You must apply before dental appointment and receive a CDCP Member ID number