Tax season 2025 is here — and with it, the Canada Revenue Agency (CRA) has introduced several important updates that affect both individuals and businesses. Whether you’re filing for the first time or you’re an experienced taxpayer, understanding these changes can help you maximize your refund, reduce stress, and avoid costly penalties.
At Unity Financial Service, we’ve broken down the most important updates for the 2025 tax year and what they mean for you.
1️⃣ Increase in the Basic Personal Amount (BPA)
The Basic Personal Amount (BPA) has increased to $15,705 in 2025 (up from $15,000 in 2024). This means a bigger portion of your income is now tax-free, putting more money back in your pocket.
💡 Tip: Update your TD1 form with your employer to ensure your paycheques reflect the new BPA — this prevents unnecessary overpayments.
2️⃣ Mandatory Digital Filing for Businesses
The CRA continues its digital-first push in 2025:
- All businesses earning over $10,000 annually must now file returns electronically.
- Penalties for paper filing where e-filing is required start at $250 per return.
💡 Tip: If you’re a sole proprietor or small business owner, set up NETFILE or use a CRA-approved tax service provider. (We can help with this!)
3️⃣ Canada Workers Benefit (CWB) Advance Payments
Starting in 2025, eligible Canadians will automatically receive quarterly advance payments of the Canada Workers Benefit — no application required.
✅ This is especially helpful for gig workers, part-time employees, and low- to moderate-income earners.
💡 Tip: Always verify your eligibility when filing — even though the CRA auto-calculates CWB, errors are still possible.
4️⃣ New Clean Energy Renovation Tax Credit 🌱
Looking to make your home greener? The new Clean Energy Home Renovation Credit offers up to $5,000 for upgrades like solar panels, heat pumps, and energy-efficient retrofits.
💡 Tip: Keep all receipts and certifications. Since this is a refundable credit, you could get money back even if you owe no taxes.
5️⃣ Stricter Cryptocurrency Reporting Rules 💻
If you buy, sell, or trade cryptocurrency, new CRA rules require you to report transactions over $500 annually — even if you didn’t make a profit.
💡 Tip: Keep a detailed log of dates, CAD values, wallets used, and counterparties for every crypto transaction.
6️⃣ Important 2025 Tax Deadlines 📅
- Personal tax return: April 30, 2026
- Self-employed: June 15, 2026 (payment due April 30)
- RRSP contribution deadline: March 3, 2026
⚠️ Missing deadlines means penalties and interest — mark your calendar now or let us track it for you.
✅ Final Thoughts: File Smarter in 2025
Tax season doesn’t have to be overwhelming. By staying on top of the 2025 CRA tax changes, you can save more, stay compliant, and reduce your tax burden.
At Unity Financial Service, we specialize in personal taxes, small business filings, GST/QST/HST, payroll, and corporate returns. Whether you’re filing as an individual, family, or business, we’ve got your back.
📞 Call us today at 438 701 3770 to book your tax consultation and make this tax season stress-free.