Filing due dates for the 2024 tax return
Capital Gains
On March 21, 2025, the Government of Canada announced that it:
- does not intend to proceed with a proposed increase to the capital gains inclusion rate; and
- will maintain the proposed increase in the Lifetime Capital Gains Exemption limit to $1,250,000 on the sale of small business shares and farming and fishing property, and introduce legislation affecting this change in Parliament in due course.
The Canada Revenue Agency (CRA) has already reverted to administering the currently enacted capital gains inclusion rate of one-half. Changes to CRA’s systems and the corresponding certification of tax software have been finalized for the reporting of capital dispositions therefore impacted returns can now be submitted and processed.
The CRA will grant relief in respect of late-filing penalties and arrears interest until June 2, 2025, for impacted T1 Individual filers and until May 1, 2025, for impacted T3 Trust filers to provide additional time for taxpayers reporting capital dispositions to meet their tax filing obligations. This relief extends to any forms and/elections that are normally included with the T1 and T3 returns (e.g.: Foreign Reporting Forms, including Form T1135, Foreign Income Verification Statement). For the T3 Trust filers, relief extends to the Schedule 15 (T3SCH15 Beneficial Ownership Information of a Trust) and Schedule 130 (T3SCH130 Excessive Interest and Financing Expenses Limitation - Canada.ca) as well.
For most people, the 2024 return has to be filed on or before April 30, 2025, and payment is due April 30, 2025.
File your return early or before the due date to avoid being charged interest and penalties and to prevent a disruption to your benefit and credit payments, such as:
- GST/HST credit, including any related provincial or territorial credits
- Canada child benefit (CCB), including related provincial or territorial payments
- Old age security (OAS) benefits
Self-employed persons
If you or your spouse or common-law partner carried on a business in 2024 with business expenditures:
- relating mostly to a tax shelter investment, your 2024 return must be filed by April 30, 2025
- other than those relating mostly to a tax shelter investment, your 2024 return must be filed by June 15, 2025
However, if you have a balance owing for 2024, you must pay it on or before April 30, 2025.
For more information on how to make your payment, see Payments to the CRA.
Exception to the due date
When a due date falls on a Saturday, Sunday, or public holiday recognized by the CRA, your return is considered on time if the CRA receives it, or if it is postmarked, on or before the next business day.
Your payment is considered on time if it is received on the first business day after the due date. For more information, see Due dates and payment dates.
Deceased persons
If you are filing a return for a deceased person or their surviving spouse or common-law partner, the due date may be different. For more information, go to Doing taxes for someone who died.
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