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 24, 2025: Earliest day to file your taxes online
Mar 3, 2025: Deadline to contribute to an RRSP, a PRPP, or an SPP
Apr 30, 2025: Deadline to file your taxes
Apr 30, 2025: Deadline to pay your taxes
Jun 15, 2025 (Jun 16, 2025 since Jun 15 is a Sunday) : Deadline to file your taxes if you or your spouse or common-law partner are self-employed

Big Changes

Starting in 2024, the penalty is 10% of the unpaid tax when the return was due, plus 2% of this unpaid tax for each complete month that the return is late, up to a maximum of 20 months.
Grocery rebate introduced, if you were eligible for GST/HST credit for tax year 2021, you would qualify for the rebate.
First Home Saving Account (FHSA) – The FHSA is a new registered plan to help qualified individuals to save to buy or build a qualifying home.
TFSA limit increases by $7,000 for 2025