Tax Hub
Welcome to our Tax Hub, your one-stop resource for comprehensive tax services and information.
Reminders Information for Personal Tax Season 2024
2025 Personal Tax Season Deadlines Coming Soon!
Smythe has gone green
This tax season we continue our efforts to digitize as many of our processes as possible, both to reduce our dependency on paper and to boost efficiencies for our clients and staff. We encourage you to submit all your documentation through our client portal and also urge you to register with CRA My Account (the online portal for the CRA as soon as possible if you haven’t already. Like Smythe, the CRA is moving towards hosting all its processes online, including allowing you to access your Notice of Assessment and apply for new benefits and credits.
Upcoming Deadlines
March 7, 2025
You should have received all T4, T4A, T5, etc. slips, although some of these may continue to arrive after this date due to the current relief measures discussed above.
March 15, 2025
Payment due date for first quarterly 2025 personal tax instalment.
April 1, 2025
You should have received all T3 and T5013 slips, although some of these may continue to arrive until May 2 due to the penalties and relief measures.
April 15, 2025
Smythe’s deadline for submitting documents.
April 30, 2025
Due date for 2024 income tax return* and payment of taxes owing. Please note payments over $10,000 need to be paid through electronic means.
*Although sole proprietors’ tax returns are due June 15th, all taxpayers (including sole proprietors) must pay their personal income taxes by April 30th to avoid interest charges.
April 30, 2025
Due date for Underused Housing Tax (UHT) filings. (for more information, please click here)
June 2, 2025
An extension to June 2, 2025, applies only to impacted individuals reporting capital dispositions. Currently what defines an “Impacted T1 Individual filer” remains unclear.
SmythePort – Our New Unified Client Portal
We have launched SmythePort, a secure digital workspace designed to make collaborating with your Smythe team simple and efficient. Through SmythePort, you can easily upload and access documents, complete information requests, and stay informed on engagement progress; all within one centralized, protected environment.
Visit SmythePort CentreUseful Resources
Personal Income Tax Resource
The CRA has collated a list of general information that could be useful to filers, located on their website.
Personal Income Tax: What’s New for 20242024 Personal Income Tax Return Checklist
We have created a personal income tax return checklist that you can fill on your computer to help you identify the information required to file your personal income tax return. We urge you to submit your documentation to us only when you have collected all or most of the necessary information, keeping the deadlines laid out above in mind.
Note: If you received any late or amended tax slips, please provide us a copy of it as soon as possible to avoid incurring significant penalties.
2024 Personal Income Tax Return ChecklistDid You Own Foreign Property in 2024?
If you held any type of foreign property, even cryptocurrency, with a value greater than CA$100,000 at any time during the year, you are required to report it to the CRA. There are substantial penalties for non-compliance. Please review and complete the Foreign Reporting Form linked below so we can prepare the T1135 Foreign Income Verification Statement Form for you. Your investment advisor should send you a foreign property report related to your investments that you must provide to us.
Foreign Property Reporting Form