Frequently Asked Questions

Why should I contact a tax professional?

Professional tax accountants are knowledgeable experts who stay up to date with all the new tax policies that could impact your return. They are there to answer any questions you may have regarding your tax situation and provide tax planning so that you can minimize your tax and maximize your return.

What are the deadlines?

February 23, 2026: Earliest day to file your taxes online
Mar 2, 2026: Deadline to contribute to an RRSP, a PRPP, or an SPP
Apr 30, 2026: Deadline to file your taxes
Apr 30, 2026: Deadline to pay your taxes
Jun 15, 2026: Deadline to file your taxes if you or your spouse or common-law partner are self-employed

Big Changes

Tax rate change: under proposed changes starting July 1, 2025, the lowest individual income tax rate will be reduced from 15% to 14%. Individual income tax rate for 2025 will be 14.5%.
RRSP Limits: The maximum annual Registered Retirement Savings Plan (RRSP) contribution limit rises to $32,490 for 2025.
First-Time Homebuyer Changes: Proposals are in place to offer GST/HST relief on new home purchases up to million for first-time buyers.
TFSA limit increases by $7,000 for 2026.