2025 Personal Tax Planning Tips for Canadians

As 2026 begins, this guide helps Canadians take the right steps throughout 2025 to minimize taxes, maximize deductions, and prepare for the 2025 tax filing season. With shifting federal and provincial thresholds, rising contribution limits, and evolving CRA programs, proactive planning is more important than ever. Whether you’re optimizing investments, managing family benefits, or preparing major financial decisions, this comprehensive overview provides clarity on what has changed for 2026—and how those changes should shape your 2025 personal tax strategy so you can enter the new year financially confident and fully prepared.

What are the Canadian Personal Tax Changes for 2026?

What are some Key Planning Points for my 2025 T1?

A structured overview of planning opportunities to maximize your refund when you file your 2025 return.

Income & Investment Planning

  • Review nonregistered portfolios for tax loss harvesting before Dec 31, 2025.
  • Consider tax gain harvesting if you expect to be in a higher bracket in 2026.
  • Maximize RRSP contributions (2025 limit: $32,490 | 2026 limit: $33,810).
  • Contribute your 2025 TFSA amount ($7,000) and prepare for 2026.
  • Add to RESPs to capture CESG matching.

Tax Credits & Deductions

  • Organize receipts for medical expenses, donations, dues, childcare, and investment fees.
  • Confirm eligibility for DTC, CWB, and HATC.

Family & Estate Planning

  • Update CCB entitlement based on 2025 income.
  • Pay reasonable family salaries for genuine work performed.
  • Review estate plans.

Real Estate & Residency

  • Report principal residence sale on the 2025 return.
  • Province of residence on Dec 31, 2025 determines tax rate.
  • Review flipping rules for property held <12 months.

What are the Key Deadlines for the 2025 Personal Tax Season?

December 15, 2025

  • Final 2025 tax instalment is due.

December 31, 2025

Deadline for:

  • Charitable donations
  • Medical expenses
  • Investment trades
  • RESP contributions
  • Home Accessibility Tax Credit expenses

March 2, 2026

  • RRSP contributions deadline for 2025.

April 30, 2026

  • File and pay 2025 taxes.

June 15, 2026

  • Filing deadlines for self-employed individuals.

What are the Top 2025 Year-End Tax Planning Strategies?

1. Maximize RRSP Contributions

2026 RRSP limits rise, but the March 2, 2026, window applies to the 2025 return.

2. Execute Tax-Loss Selling or Gains Planning

  • Realize losses before Dec 31, 2025.
  • Avoid 31day superficial loss rule.‑day superficial loss rule.
  • Consider realizing gains in 2025 if the 2026 bracket will be higher.

3. Make Charitable Donations

  • Must be made before Dec 31, 2025.
  • Donating securities avoids capital gains tax.

4. Optimize Registered Accounts

  • TFSA: 2025 limit $7,000 | 2026 limit $7,000.
  • RESP: Capture CESG.
  • FHSA: contribute up to $8,000 annually.

5. Use Family Income Splitting Strategies

  • Pay reasonable salaries.
  • Lower income spouse should claim pooled medical expenses.

6. Real Estate Planning

  • Proper reporting of principal residence.
  • Avoid flipping rule penalties.
  • UHT eliminated for 2025 onward.

7. Large Transactions, AMT & Capital Events

  • High gains may trigger AMT, such as selling your private company and claiming your lifetime capital gains exemption.
  • Consider timing gains between 2025 and 2026.

Final Thoughts

Tax planning is all about timing—leveraging 2026 rates while closing your 2025 tax year ensures maximum refund potential.

If you experienced major life or financial changes in 2025, the Achen Henderson CPAs team can help with tailored planning guidance.

Proactive planning today sets you up for a smoother, more confident 2026 tax season.