Tax season starts on February 24! Here's what you need to start filing
Tax season starts next week! When the calendar flips to February 24, 2025, you will be able to file your income tax and benefit return online.
www.canada.caI don’t have access to live updates right now, but I can summarize recent Canada tax-deadline news and what to watch for.
Core answer
- For most Canadians, the deadline to file income taxes is April 30 each year, with self-employed individuals given until June 15 to file, though any taxes owed are due by April 30. If you owe, interest/penalties may apply if paid late. This pattern is typical for the current tax season and values are consistent with recent years.
What’s new to watch (based on recent coverage and CRA guidance)
- Filing window and start of online filing: The Canada Revenue Agency typically opens online filing for the prior year’s return in February; ensure you have access to CRA My Account and tax software if you use electronic filing. This aligns with CRA communications about timing to begin filing online: February 24, 2025 for online filing of 2024 returns in that cycle. [CRA guidance material referenced in CRA tax tips communications]
- Penalties for late filing: If you owe taxes and file late, penalties may apply (commonly a 5% late-filing penalty plus 1% per month on the balance owing, up to a cap). Some relief may apply in special circumstances, but standard practice is to avoid late filing if possible. This is reflected in news coverage of penalties and CRA reminders during deadline periods. [CTV/BNN coverage and CRA guidance discussions]
- Extensions and relief: There have been periods where relief was provided for late filing or delays due to extraordinary events (e.g., disasters), with temporary penalty relief or extended deadlines in certain years. Watch for CRA announcements if any relief programs are in effect for the current year. [News reports and tax firm summaries]
- Self-employment nuance: Self-employed taxpayers have a June 15 filing deadline, but any tax owed is due by April 30. This is consistently highlighted in tax coverage. [CTV/BNN/Bloomberg-style summaries]
- Regional/flood/disaster considerations: In past years, relief or waivers may be offered for affected regions; if you were impacted by a disaster, check CRA updates or your tax professional for eligibility. [CTV/BNN coverage and tax-news commentary]
Practical steps you can take now
- Confirm your filing status: If you’re an employee, you’ll likely file by April 30; if self-employed, plan to file by June 15 but pay any balance by April 30 to minimize interest. [General CRA filing deadlines guidance]
- Gather documents: T4 slips, T5s, receipts, and any capital gains information. This accelerates filing as deadlines approach. [Typical tax-season guidance]
- Check for relief options if you’re affected by qualifying events: Look for CRA updates on penalty relief or deadline extensions in the current tax year. [News coverage of relief measures]
If you’d like, I can tailor this to your situation (e.g., you’re self-employed, have capital gains, or faced a disaster-affected area) and pull the latest CRA deadlines and relief options for you. I can also provide a simple checklist or a calendar with key dates once you confirm your filing status.