2025 Personal Income Tax Return Checklist

Download the 2025 Personal Income Tax Return Checklist

We appreciate the opportunity to assist you with your personal income tax matters. As we enter the 2025 tax season, we want to ensure a smooth and efficient filing process for you. We’ve summarized below some important documents, key dates, and tax updates to assist in gathering the necessary information.

Required Documents

Please complete the following forms and return them to Caroline & Aschaber LLP:

2025 Personal Tax Checklist
2025 Rental Schedule (as applicable)
2025 Self-Employed Checklist (as applicable)
2025 Statement of Employment Expenses (as applicable)

Submission Options

Once completed, please submit your tax package along with all relevant tax slips and documents via one of the following methods:

✔ By Portal: Log into your account through https://kcrallp.cchifirm.ca/3/clientportal/#/login

**Please notify us once you’ve finished uploading all documents**

✔ By Email: info@kcrallp.ca

✔ By Mail or Courier:

Caroline & Aschaber LLP
173 Saint Marie Street
Collingwood, ON L9Y 3K4

✔ In-Person Drop-Off: Available Monday to Friday, 9:00 AM – 4:00 PM at either of the following locations:

Collingwood Location: 173 Ste. Marie Street, Collingwood, ON L9Y 3K4
Thornbury Location: 31 Arthur Street W, Thornbury, ON N0H 2P0
Important deadlines 2026
March 2, 2026 – Deadline for 2025 RRSP contributions
April 30, 2026 – Filing deadline for personal income tax returns (any taxes owing must also be paid by this date)
June 15, 2026 – Filing deadline for self-employed individuals (taxes owing are still due by April 30, 2026)
Key tax updates for 2026
NEW! The lowest marginal tax rate is proposed to be reduced to 14.5% (from 15%) for 2025, and to 14% for 2026. Taxpayers in all income brackets will benefit from this reduction. The rate for personal tax credits will decrease correspondingly.
UPDATE! Digital platform operators – Information disclosure to CRA – Digital platform operators (e.g. Airbnb, Etsy, Uber) are now required to report seller information to CRA on an annual basis. This includes identification details, income earned by Canadian sellers, and, for rental properties, specifics of the rental property. CRA will be able to use the information provided for compliance activities. Platform operators should also provide taxpayers with the information they reported to CRA about them.
NEW! Crypto-asset service providers – Information disclosure to CRA – The government intends to proceed with legislative changes that would require crypto-asset service providers to report information to CRA related to their customers’ crypto-asset transactions. This measure is proposed to take effect January 1, 2027.
NEW! Underused Housing Tax (UHT) – For 2025 and later years, the UHT reporting and taxation regime will be cancelled.
First Home Savings Account (FHSA) – FHSAs can be set up by first-time home buyers, allowing annual contributions of up to $8,000, to a lifetime limit of $40,000. Like an RRSP, contributions are deductible from income. If FHSA funds are withdrawn to acquire an eligible property, the withdrawal is not taxable. If you are planning to buy your first home in the near term, contact us before the purchase to discuss planning options.
NEW! Canada Disability Benefit – A new income-tested benefit of up to $2,400 annually is available to those 18 to 64 years of age who are eligible for the disability tax credit. The benefit may be available retroactively to July 2025. Details on the benefit and the application process can be found on this webpage (https://www.canada.ca/en/services/benefits/disability/canada-disability-benefit.html). It is proposed that a $150 supplemental benefit would be available for each disability tax credit certification or re-certification giving rise to a Canada disability benefit entitlement.
UPDATE! Federal Carbon Tax – program wind-up – The Canada carbon rebate for individuals has now ended; most individuals would have received their final quarterly payment starting in April 2025. No payments will be made for periods after April 2025. If you have not received all payments, relevant tax returns must be filed by October 30, 2026.

Download our personal income tax return checklist below. If you have any issue accessing this resource, please email info@kcrallp.ca or call 705 444 9987, and we will get back to you as soon as possible.