Tag: 2025

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Bank of Canada Rate Cuts: What They Mean for Mortgages and Savings

Rate update dated October 29, 2025.

The Bank of Canada reduced its target for the overnight rate by 0.25 percentage points on October 29, 2025, bringing the target to 2.25%. The rate had also been reduced to 2.50% on September 17, 2025. This article explains why policy-rate changes matter to mortgage and savings-calculator users.

Why the policy rate matters

  • Variable-rate mortgages and home-equity products can respond more directly to changes in short-term rates.
  • Fixed mortgage rates are influenced by bond yields and lender pricing, so they do not always move by the same amount or at the same time.
  • Savings-account and GIC rates can change when market conditions and lender funding costs change.

How to use this information

When comparing mortgage scenarios, use the rate you are actually offered rather than assuming the Bank of Canada policy rate is your mortgage rate. For savings or GIC planning, use the advertised account rate and check whether it is promotional, variable, or fixed.

Compare payments with the Canadian mortgage calculator, review current lender information on our mortgage rates page, and estimate savings growth with the Canadian savings calculator.

The Bank of Canada’s official policy interest-rate table contains the current rate and historical changes. Rates and lender offers can change without notice.

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2025 Canadian Tax Slips Checklist for the 2026 Tax Season

Canadian tax slips 2022 tax year

Updated January 27, 2026 for the 2025 tax year.

Before filing a 2025 Canadian income-tax return, gather the slips and receipts that apply to your income, investments, benefits, education, employment, and deductions. Most tax slips are issued by employers and financial institutions by the end of February, and many can also appear in CRA My Account after the issuer sends them to the CRA.

Common income slips

  • T4: employment income, deductions, and pensionable or insurable earnings.
  • T4A: pension, retirement, annuity, scholarship, RESP, and other income.
  • T4E: employment-insurance benefits.
  • T4RSP and T4RIF: RRSP and RRIF income or withdrawals.
  • OAS and CPP/QPP slips: government pension and benefits information.
  • NR4: certain Canadian-source income paid to non-residents.

Investment and other slips

  • T5: interest, dividends, and other investment income.
  • T3: trust income, including some mutual-fund or investment-fund distributions.
  • T5007: workers’ compensation and social-assistance benefits where applicable.
  • T5008: securities transactions; keep your own adjusted-cost-base records.
  • T2202: eligible tuition and education amounts.
  • RRSP receipts: contributions made during 2025 and during the first 60 days of 2026, where applicable.

If a slip is missing

Contact the issuer first. If you have a CRA account, check whether the slip is available there after it has been submitted. Keep your own records and do not delay filing without checking the CRA instructions for your situation.

For the 2025 return, most individuals must file and pay any balance by April 30, 2026. Self-employed individuals generally have until June 15, 2026 to file, but any balance owing is generally due April 30.

See the CRA’s 2026 tax-filing-season guidance and tax-slips information for official details.