Newcomers
New to Canada: banking, credit, taxes and benefits
Newcomer money guides for Canada: open a bank account, build credit from zero, file your first tax return and apply for the benefits you qualify for.
How do newcomers set up their finances in Canada?
Your first year in Canada sets up your financial life here: a Social Insurance Number, a bank account, a Canadian credit history and a tax return every year, which keeps benefits like the GST/HST credit and the Canada child benefit coming. These guides explain each step in the order you will need it, with the official sources and the date we last checked every rule.
— YieldMaple, figures checked against official sources on October 11, 2026.
Income tax in Canada: the complete guide for newcomers
2 pages
More guides
8 pages
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- Canada Disability Benefit: amount, eligibility and payment dates
- Canada Learning Bond: amounts, income limits and how to apply
- Manitoba health card: eligibility, waiting period and how to apply
- Nova Scotia health card (MSI): eligibility, coverage start and how to apply
- OHIP health card in Ontario: eligibility, documents, how to apply and renew
- SIN number: how to apply for a Social Insurance Number step by step
Frequently asked questions
What should newcomers set up first?
Most newcomers start with a Social Insurance Number, which you need to work in Canada, and a bank account, which you need to get paid. Building a Canadian credit history comes next, because landlords, phone carriers and lenders check it.
Can I get a credit card with no Canadian credit history?
Often, yes. Several Canadian banks run newcomer programs that can approve a credit card without a Canadian credit history, and a secured credit card, backed by a deposit you provide, is another way to start building one.
Do newcomers have to file a tax return?
Most newcomers should file a return for the year they arrive. Once you are a resident of Canada for tax purposes, you report your income from the date you became a resident, and filing every year keeps benefits such as the GST/HST credit and the Canada child benefit coming.
Where do your figures come from?
From the Canada Revenue Agency, IRCC, the Financial Consumer Agency of Canada, provincial governments and the banks’ own pages. Every guide lists its sources and the date we last checked them.