CRA’s Key Dates, Deadlines, and New Tax Brackets Explained

February 23, 2026, is just around the corner. As we all prepare to organize our invoices and receipts, here’s a quick recap of what’s new this year and what needs to be done.

To help you plan and make the most of the time leading up to the tax season — and to avoid surprises — here are some important changes to Canadian taxes that everyone should be aware of before filing.

Let’s begin with…

Changes to CRA Online Services

These updates include changes to your CRA My Account access and how you can authorize someone to act on your behalf. 

o   Improvements to Your Online Experience: If you get locked out of your CRA account or forget your login credentials, you can now reset them online without having to call customer service. Go to the sign-in page, click “Your account is locked” under the Help section, and follow the provided steps.

o   Authorizing Your Representative: As of July 15, 2025, you can no longer use EFILE software to submit an authorization request. Instead, representatives must use the CRA’s Represent a Client portal, and access becomes active as soon as you confirm it within your account.

o   No Access to Your CRA Account? If you find yourself without access to your online account, don’t worry. The CRA has introduced a faster workaround. They have removed the five-day processing delay for the alternative access process, allowing your representative to gain access immediately as long as they submit the correct forms and provide information from a notice of assessment that is at least six months old.

Key Dates and Deadlines

Make sure to mark these important dates on your calendar:

–            February 23, 2026: Official start of the tax season. CRA’s NETFILE service begins accepting returns.

–            March 2, 2026: Deadline to contribute to an RRSP, pooled registered pension plan (PRPP), or specified pension plan (SPP) for the 2025 tax year.

–            March 2, 2026: Deadline for your employer to provide you with your T4 slip and file their T4 summary with the CRA.

–            April 30, 2026: Deadline to file your tax return and pay any balance owing.

–            June 15, 2026: Filing deadline if you’re self-employed (or your partner is). Remember, you still need to pay any taxes owing by April 30.

New Tax Brackets for 2025 Filings

To keep up with inflation, the CRA has adjusted its federal tax brackets and credits by benchmarking the indexation rate at 2.7%. This results in slight increases to both income thresholds and many non-refundable tax credit amounts.

The updated federal tax brackets are as follows:

–            14.5% on the first $57,375 of taxable income

–            20.5% on income over $57,375 up to $114,750

–            26% on income over $114,750 up to $177,882

–            29% on income over $177,882 up to $253,414

–            33% on income over $253,414

The basic personal amount (BPA) — the income all Canadians can earn tax-free — has also increased:

–            For income up to $177,882, the BPA is $16,129.**

–            For income over $253,414, the BPA is $14,538.

–            If your income falls between these amounts, your BPA will be adjusted proportionately.

–            Several other federal credits — including amounts for a spouse, dependent, caregiver, disability, and medical expenses — have also increased by 2.7% for 2025.

Note: These figures only apply to the federal portion of your taxes. You will still owe tax to your province or territory, each of which has its own rates and brackets. Most provinces and territories, however, have made similar inflation adjustments for 2025.

Tax Rate Changes

One of the significant updates for 2025 is the change to the federal tax rate for the lowest income bracket. Starting July 1, 2025, the rate will drop from 15% to 14%. Because this change takes effect halfway through the year, the CRA will apply a blended rate of 14.5% for the full 2025 tax year.

New Top-Up Tax Credit

In conjunction with the mid-year federal tax cut, the CRA has introduced a new top-up tax credit for 2025 intended to ensure that Canadians claiming non-refundable tax credits on amounts above the first income bracket threshold do not lose benefits.

The new top-up tax credit applies if you’re claiming affected non-refundable tax credits on amounts over $57,375, effectively maintaining a 15% rate on those portions to protect the value of your credits.

Good News for Disability Support Expenses!

For those claiming disability support deductions, the list of eligible expenses has expanded for 2025. This deduction helps individuals with physical or mental impairments cover the costs of necessary supports for work, school, or research.

New eligible items for the 2025 tax year include:

–            Alternative input devices

–            Attendant care services

–            Bed positioning devices

–            Digital pen devices

–            Ergonomic work chairs

–            Memory or organizational aids

–            Mobile computer carts

–            Navigation devices

–            Service animals

Please remember that most of these items require a prescription or written certification from a medical practitioner. Only the individual with the disability can claim the deduction.

Capital Gains Updates

The Canada Revenue Agency (CRA) has introduced two new capital gains rules for 2025 that could benefit small business owners and certain cooperative shareholders.

First, if you sold shares as part of a qualifying cooperative conversion, you may now be eligible for a capital gains deduction. This applies to specific conversions that began in 2024 and continued into 2025.

Additionally, there has been a change to the capital gains rollover for small business shares. For qualifying sales made after December 31, 2024, the time frame to acquire replacement shares has been extended. The CRA has also expanded the definition of what qualifies as a small business corporation share, potentially providing more opportunities to defer capital gains.

For complete details, the CRA recommends consulting Guide T4037: Capital Gains, once it has been updated for the 2025 tax year.

Mineral Tax Credit Expansions

If you invest in flow-through shares related to mining exploration, two important updates may affect you.

The Critical Mineral Exploration Tax Credit (CMETC) was expanded in late 2025 to include 12 new minerals, including tin, tungsten, niobium, and manganese. These new rules apply to eligible agreements signed after November 4, 2025, and before April 1, 2027.

At the same time, the CRA has extended the Mineral Exploration Tax Credit (METC) through to April 1, 2027, for qualifying flow-through share agreements.

These credits mainly impact investors in the mining sector. If you are considering a resource-focused portfolio, check with your accountant to see if your investments qualify.

Underused Housing Tax Elimination

On November 4, 2025, the federal government announced the elimination of the

Underused Housing Tax (UHT), starting with the 2025 calendar year. This means that no UHT will be payable, and no UHT return will need to be filed for 2025 or any future years.

The CRA notes that this change does not affect the rules for previous years. If you were required to file a UHT return for 2022, 2023, or 2024, you are still responsible for that, and penalties may apply if you have not done so yet.

It is important to note that the UHT is completely separate from your personal income tax return. Therefore, this change will not affect your T1, but it could simplify matters if you own residential property that may have been subject to the tax.

Best wishes!

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