First time filing taxes in Canada? Need a refresher? We have you covered. Here's what you need to know about how and when to file your taxes, and what's new this year.
Here are five key steps to follow:
1. Keep an eye on tax deadlines:
To file your 2025 taxes, here are the deadlines you need to know:
- April 30, 2026: Deadline to file your taxes.
- June 15, 2026: Deadline to file your taxes if you or your spouse or common-law partner are self-employed.
2. Gather your documents
Collect your tax slips (like your T4, T4A, etc.) and receipts. Also, track down any related documents, like self-employment income, foreign investments, assets, and other earnings. You need all of this in order to report your income. Full list of tax slips.
Find deductions, credits, and other expenses that you can claim on your tax return, like Home office expenses, Disability tax credit, Canada Training Credit, etc. These help reduce the amount of tax you have to pay. Full list of deductions, credits, and expenses.
3. Decide how you’re going to prepare your taxes
There are many options out there to make doing your taxes easier. You can:
- Calculate and file taxes online with CRA-approved software.
- Authorize someone else to do your taxes, like a family member, friend, or accountant.
- Visit a free tax clinic where a volunteer can complete your taxes for you.
- Go to a discounter — this is a tax preparer who calculates your refund and pays you a discounted tax refund right away, before they file your tax return.
- File a paper tax return.
- If you are eligible, the CRA will invite you to file your taxes by entering your information through their automated phone line (open to people with low or fixed income and a simple tax situation).
Get more details on each of these options and make sure to use a CRA-approved method.
4. Make sure your personal info is up-to-date
Outdated personal information can delay your tax refund, credits, etc. Make sure that everything in the "Identification" section of your tax return is correct, including your:
- Marital status
- Address
- Social insurance number (SIN)
5. Calculate whether you get a refund or owe a balance
If the total amount of taxes you owe is less than your total amount of tax credits, you get a tax refund after you file. Learn how to get your refund via direct deposit.
If the total amount of taxes you owe is more than your total amount of tax credits, you need to pay taxes. Make sure you pay what you owe no later than April 30, 2026, to avoid paying interest and late-filing penalties. Learn more about paying taxes you owe and options if you can't pay right away.
Understand tax credits
Tax credits are like a discount on your income tax bill. In Canada, there are many different types of tax credits, all with their own eligibility conditions. Some of the most commonly-used credits include:
- Canada Groceries and Essentials Benefit (formerly the GST/HST Credit)
- Charitable Donation Tax Credit
- Home Buyers’ Amount (HBA)
- Canada Child Benefit (CCB)
To find out what tax credits you may be eligible for, check Canada.ca.
Or, connect with a Meridian advisor.
Learn more about taxes
5 ways to make your tax refund work for you
Pay less tax with a spousal RRSP
5 great tax benefits of RRSPs