Question 1

When is the tax filing deadline in Canada?

Accepted Answer

The personal tax filing deadline is April 30 for most Canadians. Self-employed individuals have until June 15, but any taxes owed are still due April 30. Contact Tax Buddies at 403-768-4444 for help.

Question 2

What is the RRSP contribution limit for 2025?

Accepted Answer

The 2025 RRSP contribution limit is 18% of your previous year's earned income, up to the annual maximum. Check your CRA Notice of Assessment for your exact limit. Tax Buddies can help optimize your RRSP strategy.

Question 3

How do I know if I need to charge GST/HST?

Accepted Answer

You must register for GST/HST if your business revenue exceeds $30,000 over four consecutive quarters. Some businesses choose to register voluntarily to claim input tax credits. Tax Buddies can advise on your situation.

Question 4

What happens if I file my taxes late in Canada?

Accepted Answer

Late filing results in a 5% penalty on the balance owing, plus 1% per month up to 12 months. Interest also accrues on unpaid amounts. File on time even if you can't pay — Tax Buddies can help you arrange a payment plan with CRA.

Tax FAQ

Common Tax Questions