Tax season has a way of creeping up on all of us. Miss a date, and you can end up paying penalties and interest, or waiting longer for a refund you are owed. The good news is that staying on top of it is simple once you know the dates and have your paperwork ready. Here is everything you need for your 2025 return, which you file in 2026, along with a few ways to keep more money in your pocket while you are at it.
The 2026 Dates That Matter
Mark these on your calendar. Every one of them affects your 2025 personal return.
| Date | What is Due |
| March 2, 2026 | Last day to put money in your RRSP and have it count for the 2025 tax year |
| Early March 2026 | Employers and banks send out your T4 and T5 slips (by March 2) |
| April 30, 2026 | File your 2025 return and pay any balance you owe (most people) |
| June 15, 2026 | File your return if you or your spouse are self-employed |
| Quarterly in 2026 | Installment payments, if you make them: March 15, June 15, September 15, December 15 |
Use the RRSP Deadline to Lower Your Bill
That March 2 date is not just a deadline; it is an opportunity. Money you put into your RRSP by then comes straight off your 2025 taxable income. In plain terms, it can shrink the tax you owe or grow the refund you get back. If you have room and a bit of cash on hand, a contribution before the deadline is one of the few moves that still counts for last year. Just try not to leave it to the final week, when banks are busy and a winter storm can slow a transfer down.
The Catch for Self-Employed Drivers and Business Owners
If you are self-employed, you get extra time to file, until June 15, 2026. But here is the part people miss: any tax you owe is still due by April 30. File in June if you like, but if you have a balance owing, pay it by the end of April or interest starts adding up on May 1. It catches a lot of first-time business owners off guard, so treat April 30 as your real payment date no matter when you file.
Who Has to Pay by Installments
Most people pay their tax once a year. But if you owed more than $3,000 two years in a row, usually because tax is not taken off your income automatically, the Canada Revenue Agency asks you to pay in four installments through the year instead. Those fall on March 15, June 15, September 15, and December 15. If the CRA sends you installment reminders, do not ignore them, because missing them adds interest on top of what you owe.
What Happens if You File Late
Filing late is an expensive habit. The CRA charges a penalty of 5% of your balance owing, plus another 1% for each month your return is late, up to a year. On top of that, interest builds daily on anything you still owe.
A quick example makes it real. Say you owe $2,000 and file three months late. That is a $100 penalty right away, plus about $60 in monthly penalties, plus daily interest, all for a return that might have taken an afternoon. And if you claim benefits like the Canada Child Benefit, the GST/HST credit, or the Ontario Trillium Benefit, those payments can pause until you file. The fix is easy: file on time, even if you cannot pay the full amount right away.
What if You Cannot Pay by the Deadline
File anyway. This is worth repeating because it saves people real money: the big penalty is for filing late, not for paying late. So even if you cannot cover the whole balance by April 30, send your return in on time to avoid that 5% hit. Then you can set up a payment arrangement with the CRA to pay it off over time. Interest still runs on the unpaid amount, but you sidestep the larger penalty, which is the part that stings the most.
Your Document Checklist
Gathering everything before you start saves time and money, and it means fewer missed deductions. Here is what to pull together.
Your Income Slips
- T4: For Employment Income, And T4A For Pensions, Commissions, Or Self-Employed Income
- T5, T3, And T5008: For Investments, Dividends, And Mutual Funds
- Records: Of Self-Employment Income, Such As Your Fares, Sales, Or Invoices
- Rental Income: And Expense Records, If You Have A Property
- T4A(P), T4A(OAS), And T4RSP Or T4RIF: For CPP, Old Age Security, And Registered Withdrawals
Receipts That Lower Your Tax
- RRSP And FHSA: Contribution Receipts
- Child Care Costs: And Union Or Professional Dues
- Medical Expenses: And Charitable Donation Receipts
- Tuition Slips (T2202): And Student Loan Interest
- Moving Expenses: If You Moved At Least 40 Km Closer To Work Or School
The Personal Details
- Personal Information: Your SIN And Direct Deposit Information For A Faster Refund
- Assessment Records: Last Year’s Notice Of Assessment, And Any Letters The CRA Has Sent You
- Family Details: Details For Your Spouse And Any Dependants
- Disability Amount: Your Form T2201 On File If You Or A Family Member Qualify For The Disability Amount
A Quick Word for London Filers
Many Ontario credits, including the Ontario Trillium Benefit, are worked out straight from your return. That means filing is not just about what you owe; it is how you unlock the money coming back to you. Filing dates are the same across the country, but the credits attached to them are provincial, which is one reason a local accountant in London, Ontario is worth having in your corner. If you are not sure which credits apply to you, our guide to the credits and benefits you can claim on your 2026 return is a good next read.
File Early and Breathe Easier
You do not have to wait until April. The CRA opens filing in mid-February, and you can send your return in yourself using NETFILE-certified software, or hand it to an accountant if it has a few moving parts. Filing early means your refund lands sooner, your benefit payments keep flowing, and you avoid the last-minute scramble. Whichever way you go, a little preparation now saves a lot of stress later. If you would rather not think about it at all, we are happy to take it from here. Change, so please confirm the details for your own situation with a qualified accountant.
