2025 Tax Season (CRA) – Key Updates and Deadlines

Maple Tax
Oct 22
2 min read

According to the latest announcement from the Canada Revenue Agency (CRA), several important updates and deadlines will take effect for the 2025 tax season.

These changes are not only essential to ensure a smooth filing process, but they may also impact your after-tax income.

Below are the key highlights and important reminders:

1. Personal Income Tax Deadlines Remain Unchanged

The personal tax filing deadline remains April 30, 2025.For self-employed individuals, the deadline is extended to June 15, 2025.

In other words, if you operate a sole proprietorship, are self-employed, or have employees under your business, you have until June 15 to file your return — but starting early will help you avoid last-minute stress.

2. RRSP Contribution Deadline – March 3, 2025

The deadline for RRSP (Registered Retirement Savings Plan) contributions applicable to the 2024 tax year is March 3, 2025.

Simply put:To reduce your 2024 taxable income, make sure to contribute to your RRSP on or before March 3.Contributions made after this date will count toward the next tax year instead.

3. Basic Personal Amount (BPA) Adjustments

For individuals with a net income of $177,882 or less, the BPA for 2025 is $16,129.

If your net income exceeds this threshold, the BPA will gradually decrease —and once income reaches approximately $253,414 or more, the BPA may drop to around $14,538.

What this means for you: If your income is modest — such as a small business owner, freelancer, or part-time earner — you can expect a slightly higher non-taxable allowance than before. However, for those in middle to higher income brackets, note that the benefit tapers off as income increases, meaning your BPA (and thus your tax-free portion) will gradually decline.

4. Digital Service Income Reporting – Platform Revenue Disclosure

As digital income grows, the CRA and provincial tax authorities are strengthening efforts to improve transparency and compliance in online income reporting.

If you earn income through digital or online platforms — such as e-commerce, live streaming, subscription services, or gig-sharing platforms — it is strongly recommended that you track and report these earnings accurately, regardless of amount.

Even if a platform does not issue a T4 or similar tax slip, the income must still be declared as part of your total earnings. Failure to report could result in interest charges, penalties, or an audit.

Pro tip: Keep detailed records of your platform-related income and expenses, including: