2025 Personal Income Tax Return: Important Dates & Document Checklist

The Canada Revenue Agency (CRA) will officially open the EFILE system for the 2025 tax year on February 23, 2026.

To help you complete your personal tax return efficiently and accurately, we have prepared the 2025 Personal Tax Document Checklist. Please review the list below and organize the relevant documents according to your situation in advance.

Providing complete, accurate, and timely personal and family tax information is essential for proper tax planning and for ensuring your tax return is filed correctly and in full compliance.

You may email your organized documents to tax@aylcpa.ca.
Once your tax return is prepared, we will send you a tax summary for review, followed by E-signature documents through our system to complete the final filing authorization.

If your tax situation is relatively complex (for example, involving multiple investments, real estate transactions, residency status changes, foreign assets, self-employment, or corporate structures), we recommend scheduling an in-person or virtual consultation with us for a more comprehensive tax review and planning.

Personal & Family Information

If you are a new client, a new immigrant filing your first Canadian tax return, or a returning Canadian resident, please provide the following:

Taxpayer, spouse, and all dependants:

• SIN
• Full legal name
• Date of birth
• Current residential address
• Contact phone number

New immigrants or returning Canadian citizens / permanent residents:

• Date of entry to Canada
• Details of foreign income earned prior to entry

If you became a non-resident during the year:

• Date of departure from Canada

If your marital status changed during the year:

• Date of status change

If you are not a first-time filer:

• Prior-year Notice of Assessment (NOA), if available

 

Income Documents

Please provide all applicable income slips and records, including:

• Employment or self-employment income: T4, T4A
• Profit-sharing plans: T4PS
• Small business / self-employment income summary
• Interest and dividend income: T3, T5
• Employment insurance / maternity benefits: T4E
• Old Age Security & pensions: T4A(OAS), T4A(P)
• RRSP withdrawals: T4RSP
• Social assistance benefits: T5007
• Partnership income: T5013
• Foreign income, such as:

• • China individual income tax returns
  • Hong Kong / Taiwan tax statements
  • U.S. Form 1040 / W-8, etc.

• Stock and investment trading records: Trading Summary, T5008
• Spousal support received after separation or divorce (excluding child support)

 

Deduction Documents

• RRSP contribution receipts:
  • Contributions made between March 1, 2025 – March 2, 2026
  • If applicable, indicate HBP / LLP minimum repayment amounts
• FHSA (First Home Savings Account) contributions
  • 2025 annual limit: $8,000
• Repayment of COVID-19 benefits in 2025
• Childcare expense receipts
• Investment loan interest
• Professional association or union dues paid
• Self-employment expense summary (template available upon request)
• Commission employees or employees working from home:
  • Employer-signed T2200
  • Related expense summary (template available)
• Spousal support paid to a former spouse (excluding child support; legal documents required)
• Moving expenses (due to employment, business, or education)
• Disability-related employment or education support expenses
• Truck drivers’ meals and accommodation: TL2
• Allowable Business Investment Losses (ABIL)

 

Tax Credit Documents

• Tuition fees for yourself, spouse, or children:
  • T2202, or TL11A (signed by foreign institutions)
• Charitable and political donations
• Student loan interest
• Medical expenses or health insurance premiums

• • Must exceed 3% of net income or $2,834, whichever is lower

• Principal residence property tax or rent

• • Landlord information, rental period, and address required

• First-time home buyer status
• Disability Tax Credit:

• • T2201 signed by a medical practitioner (not required if already approved by CRA)

• Multi-Generation Home Renovation Tax Credit:

• • Renovation costs for a secondary dwelling for seniors or disabled family members
  • Maximum eligible expenses: $50,000

• Adoption-related expenses, including agency fees, legal fees, and travel costs

 

Rental & Real Estate Transactions

• Sale of principal residence:

• Property address
• Purchase year and cost
• Sale price
• Land transfer tax, legal fees, and other acquisition or disposition costs
• Years designated as principal residence

• Conversion of principal residence to rental property:

• Deemed disposition; property valuation required
• Section 45(2) election may be available (please consult your accountant)

• Conversion of rental property to principal residence:

• Deemed disposition at fair market value
• Section 45(3) election may be available

• Sale of investment property:

• Property address
• Purchase year and Statement of Adjustment
• Land transfer deed, legal fees, real estate commissions, advertising costs
• Mortgage prepayment penalties, staging, renovation, and upgrade costs

• Rental property income:

• Property address
• Total annual rental income
• Property tax, mortgage interest (bank mortgage statements), insurance
• Management fees, advertising, commissions, repairs, utilities
• If partially rented, provide rental area percentage (template available)

 

Foreign Asset Reporting (T1135)

• New immigrants:

• • No reporting required in the year of landing, but please confirm whether foreign assets exceeded $100,000 CAD

• Returning Canadian citizens or PRs:

• • Reporting required in the year of return

• Foreign assets under $250,000 CAD:

• • Asset category, country, and related income or gains

• Foreign assets over $250,000 CAD:

• • Foreign bank accounts: bank name, maximum balance, year-end balance, interest income
  • Foreign stocks, funds, and investment products: market value at landing and capital gains/losses
  • Foreign receivables: debtor name, principal amount, interest income
  • Interests in foreign trusts
  • Foreign rental properties: address, market value at landing, rental income, sale price if disposed
  • Foreign assets held through Canadian brokers
  • Other foreign assets, including partnership interests, cash-value life insurance, patents, and copyrights

For more details, please refer to our article: Common Questions on Foreign Asset Reporting

Important Tax Deadlines for the 2025 Tax Year

• RRSP contribution deadline: March 2, 2026
• General personal tax filing deadline: April 30, 2026
• Self-employed tax payment deadline: April 30, 2026
• Self-employed individuals & family tax returns, foreign asset reporting, and HST filing: June 15, 2026
• Foreign asset reporting and tax elections: April 30, 2026
• Principal residence sale reporting: April 30, 2026
• Non-resident sale of Canadian property reporting: April 30, 2026
• Toronto Vacant Home Tax filing deadline: April 30, 2026

 

Friendly Reminder

Late filing may result in penalties and interest on any outstanding tax balance.
According to CRA, the annualized interest rate on overdue taxes in Q1 2026 is as high as 8%, making late payment increasingly costly.

Please also note:

For low-income households, students, or individuals with little or no income, filing a tax return on time remains extremely important. Timely filing is required to receive government benefits and credits such as GST/HST Credit, OTB, and other income-tested benefits.