Built to save you money
Canada: what to claim, what to file, in what order
Tax year 1 January to 31 December 2025, filed in 2026. Everything on this page is specific to Canada, so nothing here is a general rule that quietly does not apply to you.
Federal and provincial figures as published by the Canada Revenue Agency for 2025. Family and childcare credits, and Quebec provincial credits, are not modelled.
Moves that cut this year's bill
These are the Canada moves you can make yourself, with no adviser and no structure to set up. They only count if the money moves before 31 December.
What you can deduct or claim in Canada
RRSP contributions
Every dollar comes off your taxable income, up to your room shown on your notice of assessment.
Anyone with earned income
FHSA contributions
Deductible going in and tax free coming out when you buy a first home.
First-time buyers
Business use of home
A share of heat, power, rent, insurance and internet based on the space and hours used for work.
Self-employed
Childcare expenses
Usually claimed by the lower earning spouse, with receipts.
Parents
Medical expenses
Above a small threshold, for any 12 month period ending in the year, pooled for the family.
Everyone
Moving expenses
Deductible when you moved at least 40 km closer to work or school.
Movers
Union and professional dues
Deductible, and usually shown on your T4.
Employees
Donations
A credit rather than a deduction, worth more once total gifts pass $200 in the year.
Everyone
The filing steps, in order
- 1
Collect your slips
T4 from each employer, T4A for other income, T5 for interest and dividends, T3 from trusts and funds, and RRSP receipts. Most appear in My Account under Auto-fill my return.
T4 and T5 by the end of February, T3 by the end of March
- 2
Top up the accounts that cut this year's bill
An RRSP contribution reduces your taxable income. A TFSA does not, but everything inside it grows tax free. First-time buyers can use an FHSA, which gives the deduction and the tax-free growth.
60 days after the year end, usually 1 or 2 March, for RRSP and 31 December for TFSA and FHSA
- 3
Add up business and rental figures
Self-employed income and expenses go on form T2125, rental income and expenses on form T776. Keep the invoices, mileage log and the share of home costs you claim.
Before you file
- 4
File the T1
NETFILE through certified software, or on paper. Add Schedule 3 for anything you sold, Schedule 7 for RRSP contributions, and T1135 if foreign property cost more than 100,000 Canadian dollars. Quebec residents also file a TP-1 with Revenu Quebec.
30 April, or 15 June if you or your spouse were self-employed
- 5
Pay the balance
Any balance owing is due 30 April even if you file in June. Interest starts the next day, and the CRA may ask for quarterly instalments next year.
30 April
- 6
Keep the records
Six years from the end of the tax year the return relates to, and keep the cost of investments and property for as long as you own them.
Ongoing
Forms to file with the CRA
| Form | What it does | When | Who needs it |
|---|---|---|---|
| T1 income tax and benefit return | Your annual personal return | 30 April, or 15 June if self-employed with the balance still due 30 April | Everyone |
| T2125 | Business or professional income and expenses | With the T1 | Self-employed |
| T776 | Rental income and expenses per property | With the T1 | Landlords |
| Schedule 3 | Capital gains and losses on anything you sold | With the T1 | Investors and property sellers |
| Schedule 7 | RRSP, PRPP and SPP contributions and deductions | With the T1 | RRSP contributors |
| T1135 | Foreign income verification statement | With the T1 | Anyone with foreign property costing over $100,000 |
| TD1 | Tells your employer which credits to apply to your pay | When you start a job or your situation changes | Employees |
Not covered on this page
- Ontario surtax and health premium, and other provincial surtaxes
- Quebec provincial tax credits and the TP-1 return
- Family, childcare and disability credits, and the Canada child benefit
- Tax year: 2025. Your year ends 31 December.