The GST credit will be replaced by the Canada Groceries and Essentials Benefit The government is introducing the new Canada Groceries and Essentials Benefit – formerly the Goods and Services Tax (GST) Credit. We are increasing its amount by 25% for five years beginning in July 2026. In addition to that, we are providing a one-time payment, equivalent…
Category: Personal income tax news
Prescribed interest rates
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Good tax policies go hand in hand with good economic policies — we need both
My latest Financial Post article discusses tax reform and the importance to improve how Canada develops tax policy: “One of the things I enjoy is hanging out with tax geeks like me who have a similar passion to see Canada’s tax system improved. Last week, I attended the Canadian Tax Foundation’s Tax Policy Symposium in…
Made a mistake on your taxes? Upcoming changes to the Voluntary Disclosures Program
September 10, 2025 Ottawa, Ontario Canada Revenue Agency The Canada Revenue Agency (CRA) is committed to helping taxpayers correct their past tax mistakes. The Voluntary Disclosures Program (VDP) allows for well-intentioned taxpayers to voluntarily correct their tax affairs and receive some financial relief. On October 1, 2025, changes to the VDP will come into effect. These changes will…
Direct deposit changes impacting EFILERS and taxpayers
March 21, 2025 Ottawa, Ontario Canada Revenue Agency The confidence and trust that individuals and businesses have in the CRA is a cornerstone of Canada’s tax system. The CRA regularly adjusts and improves its systems and processes to safeguard sensitive information against ever evolving threats to its digital services. To support our ongoing efforts to…
2025 Alberta Budget Summary
On February 27, 2025, Alberta Minister of Finance Nate Horner announced the 2025 Alberta Budget. The Budget aims to strengthen health care, education and communities, support vulnerable Albertans, and diversify the economy. No changes were made to the existing provincial corporate tax rates. Crowe MacKay’s tax experts summarize the Alberta Budget’s new tax measures below.…
Income taxes down, property taxes up — especially in Calgary: How Alberta Budget 2025 affects you
Income tax cut The biggest way the new budget is likely to affect you is through a reduction in the personal income-tax rate. Alberta plans to cut the rate on the first $60,000 of income from 10 per cent to eight. This was a promise the United Conservative Party initially made during the 2023 election campaign. The…
Tax season starts today! File your 2024 income tax and benefit return to get the benefits and credits you may be eligible for
News release February 24, 2025 Ottawa, Ontario Canada Revenue Agency Today, you can start filing your 2024 income tax return online. For most individuals, the deadline to file is April 30,…
Tax filing deadlines
These are some of the applicable deadlines: January 26, 2026 IRS e-filing opened for US returns February 23, 2026 CRA e-filing opens for Canadian returns March 2, 2026 – deadline for RRSP contributions for 2024. February 28, 2026 – T4 and T5 slips have to be issued March 16, 2026 – deadline for first Canadian…
EFILE news and program updates
T1 EFILE The Canada Revenue Agency’s EFILE, ReFILE and T1135 web services are now closed for the electronic filing of your clients’ initial and amended (T1) personal income tax and benefit returns and T1135 forms for T1. These services will re-open on Monday, February 24, 2025 at 8:30 a.m. (Eastern Time). The Canada Revenue Agency’s T3 EFILE and T1135…