Tax Tip Thursday

We are going to talk about a few but very relevant topics – the revamped GST credit, gig workers and the important deadlines for this year.

With tax season just a few weeks away, Canadians can start organizing their receipts and looking for ways to minimize their taxable income from 2025.

 Canada Groceries and Essentials Benefit (formerly known as GST credit)

The first is a significant revamp of the Goods and Services Tax (GST) credit.

On January 26, 2026, the government announced that it will increase benefits under the Goods and Services Tax (GST) credit and rename the program.

Bill C-19 was tabled in the House of Commons on January 28, 2026, and it proposes to provide a one time payment to individuals equal to 50 per cent of the GST credit’s annual 2025-26 value and to raise the annual credit by 25 per cent for five years starting in July 2026.

The first phase is a one-time top-up payment available as early as this spring, but no later than this June (subject to Royal Assent). The increase is equal to a 50 per cent increase in the annual 2025-26 value of the GST credit.

The federal government is also increasing the value of the Canada Groceries and Essentials Benefit by 25 per cent for five years starting this July (subject to Royal Assent)..

 

How many people are eligible?

That means you need to have filed your 2025 tax return on time to receive this new increased benefit that starts this July.

 

How much more you could get

According to examples provided by the federal government, a single individual could see their GST credit payment increase from $540 for the 2026 tax year up to $950.

An average family of four that would have received $1,100 could receive $1,890 in tax-free money.

Under the proposed changes:

• A single senior with $25,000 in net income would receive a one-time top-up of $267 plus a longer-term increase of $136 for the 2026-27 benefit year (total increase of $402). In total, they would receive $950 for the 2026-27 benefit year (including the top-up).
• A couple with two children with $40,000 in net income would receive a one-time top-up of $533 plus an increase of $272 for the 2026-27 benefit year (total increase of $805). In total, they would receive $1,890 for the 2026-27 benefit year (including the top-up).

 

Key dates

Here are some key dates to remember for the 2026 tax season.

Monday, Feb. 23 The Canada Revenue Agency’s (CRA) NETFILE service opens, allowing Canadians to file online.

Friday, Feb. 27 This is the last day for employers and the CRA to issue T4s, T4 As and T5s to Canadians.

Monday, March 2 The deadline to contribute to an RRSP for the 2025 tax year.

Thursday, April 30 This is the tax filing deadline. You must have your taxes filed by this date or start incurring penalties if you owe.

Monday, June 15 This is the date for the self-employed to file their tax returns. However, any balance owing is due on April 30, so those who owe taxes should be aware of their required payments well before the self-employed tax due date.

  

Reminder for gig workers

Taxpayers who work in the gig economy are reminded that digital platforms are now required to file an “information return” with the CRA, which includes sharing mandatory user identifying and income-related information for all Canadian gig workers.

Bill C-47, now in effect, requires websites and apps you use to earn income from freelance or contract work to share information with the Canada Revenue Agency (CRA) on your behalf.

Come see us soon to get your taxes started! Make An Appointment today!

Disclaimer:

This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal or tax advice nor can it or should it be relied upon. All tax situations are specific to each individual. If you have specific tax questions you should book an appointment for a 1 on 1 consultation.