The 2025 tax-filing season officially starts today as the Canada Revenue Agency is now accepting returns.
Ryan Minor, director of tax at CPA Canada, says start by collecting all your tax slips, invoices and bills, such as your T-4 from your employer and T-5 investment slips from your bank.
Then, he says look for ways to reduce your tax bill, especially if you anticipate owing money to the government.
One common method is to add to your registered retirement savings plan, as long as you have contribution room remaining. The deadline to contribute to your RRSP for the 2025 tax year is March 2nd.
Minor says it's important to set up and check your CRA account to make sure you haven't missed any slips or documents.
He says if your CRA account has slips that you don't have, you should track down those documents before filing.
Tax returns are due April 30th for most Canadians.