Key Dates for 2025

january 2025

BEGINNING OF THE YEAR: KEY DATES TO KEEP IN MIND

As we get the year rolling people often ask, “What should I do to get my finances in order?”

It can be helpful to note some of the key planning items and dates for the year. We have included some of the main ones we will keep in mind as top priority due to deadlines or significant changes in the year.

Key Dates and Amounts for 2025:

RRSP - Maximum $32,490 (2026 - 33,810. Achieved with 2025 income of $187,834)

- RRSP Contribution Deadline - March 3, 2025

TFSA Room - $7,000 (2025) / Lifetime Limit - $102,000 

FHSA Room - $8,000 (potential for carry-forward room)

RESP - Grant $500/child under 17 (potential for carry-forward room, Max grant $1000)

RDSP - Grant $3500 (will vary - check your letter from the government, Max grant $10,500)

Canada Child Benefit - $7,997/child under 6, $6,748/child 6 -17 (previously $7,787 & $6,570)

OAS Clawback - Starting @ $93,454, Full Clawback @ $151,668 (more if OAS delayed or over 75)

CPP Contribution - Employee $4430.10 (Self-Employed or Incorporated: $8860.20)

- Minimum salary for full CPP contribution credit: $81,200

Key Planning “Touchpoints” to expect in the coming months

- RRSP Contribution Calculation

- Grant and Registered Account Funding (RESP/TFSA/FHSA etc)

Personal Tax Filing Deadline:

- Employee Returns: April 30, 2025.

- Self-Employed: June 15, 2025

- Tax Owing Due: April 30 (interest will start accruing as of April 30, 2025)

As you plan for the year, please keep these key dates in mind. If you are unsure about your limits or whether you should take advantage of specific opportunities, we are here to help. Feel free to reach out, and we can assist you in determining the appropriate amounts and strategies.