Top 3 Changes 1. Self-Employed Filing Deadline Approaching Status: Admin Effective Date: June 15, 2026 Self-employed individuals and their spouses/common-law partners must file their 2025 income tax returns by June 15, 2026. Interest on balances owing continues to accrue from April 30, 2026 even where the filing deadline is later. Who’s affected Sole proprietors Self-employed professionals Partnerships reporting business income Spouses of self-employed individuals Recommendation File before June 15. Review instalment requirements for 2026. Ensure GST/HST filings are current. Sources: 2. Monitoring Federal Tax Legislation from Budget 2025 and Spring Economic Update 2026 Status: Proposed The federal government continues advancing previously announced tax measures through draft legislation and budget implementation bills. Key measures under consideration include immediate expensing enhancements, Employee Ownership Trust measures, and other previously announced Income Tax Act amendments. Who’s affected Private corporations Manufacturing businesses Business owners considering succession planning Tax advisors Recommendation Do not implement aggressive planning based solely on announcements. Review corporate structures for potential eligibility under proposed measures. Monitor enactment dates before filing positions are finalized. Sources: 3. Canada Groceries and Essentials Benefit Bill Continues Through Legislative Process Status: Proposed Legislation Bill C-19 would increase GST/HST-credit-style support through the proposed Canada Groceries and Essentials Benefit framework. The bill remains part of the federal legislative agenda and has not yet completed the full parliamentary process. Who’s affected Lower- and middle-income individuals Families receiving GST/HST credit benefits Recommendation Ensure 2025 returns are filed on time to preserve eligibility for income-tested benefits. Maintain current CRA direct deposit information. Sources: Itemized Changes AreaStatusSummaryActionSelf-employed filing deadlineAdminJune 15 filing deadline approachingFile returns before June 15Federal tax legislationProposedVarious Budget 2025 and Spring Update measures progressingMonitor enactmentCanada Groceries & Essentials BenefitProposedBill C-19 remains before ParliamentFile returns to preserve benefitsCRA filing season administrationAdminCRA continues digital service improvements and taxpayer support initiativesUse CRA online services where available Sources: Deadlines (Next 60–90 Days) DateDeadlineJune 15, 2026Self-employed 2025 T1 filing deadlineJune 30, 2026Many corporate year-ends with December 31, 2025 balances owing already overdue—review instalmentsJuly 2026Quarterly GST/HST and payroll remittance deadlines for applicable filersAugust–September 2026Review corporate tax instalments based on 2025 assessments
