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By Jason Heath, CFP on April 14, 2025
Estimated reading time: 4 minutes

By Jason Heath, CFP on April 14, 2025
Estimated reading time: 4 minutes

There are several personal, trust and corporate income-tax-filing extensions for Canadians this year. Which ones apply to you?

Canadian personal T1 tax returns are generally due by April 30. There are a couple of extensions that apply every year, but there are also a few specifically for this spring 2025 tax season.

T3 trust tax returns are normally due by March 31. This includes tax returns for living trusts (also known as inter vivos trusts) set up during a trustee’s life, as well as testamentary trusts established in the will of a deceased person. March 31 is also usually the filing deadline for Canadians who hold mutual funds and exchange-traded funds (ETFs) in taxable investment accounts.

However, in February, the Canada Revenue Agency (CRA) noted:

“as a result of the change to the effective date of the proposed capital gains inclusion rate increase, the information to be reported on certain tax slips—primarily the T3, T4PS, and T5008 (book value)—needs to be recalculated to ensure taxpayers receive accurate........

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