Newcomers Complete guide

Income tax in Canada: how the system works when you are new to it

By Alex Francisco Updated Oct 8, 2026 Figures checked Oct 8, 2026 21 min read

How does income tax work in Canada?

Income tax in Canada is charged by the federal government and by the province or territory of residence, with 2026 federal rates running from 14% on the first $58,523 of taxable income to 33% above $258,482. Residents are taxed on world income, newcomers from the date they become resident. The 2026 return is due April 30, 2027.

Canada taxes income twice on the same return: federal rates of 14% to 33% for 2026, plus the rates of the province or territory where the person lives on December 31.
Tax residency, not citizenship or immigration status, decides who pays: for most newcomers it starts on the first day they live in Canada.
Residents report world income, but income earned abroad before becoming resident is not taxed in Canada.
Rental income is taxed on the net amount: gross rents minus deductible expenses such as mortgage interest, property taxes, insurance and repairs, reported on Form T776.
Form T1135 is required once specified foreign property costs more than $100,000 in total, but not for the tax year a person first became resident.
The 2026 return is due April 30, 2027, or June 15, 2027 for the self-employed, and any balance owing is due April 30 either way.

— YieldMaple, figures checked against official sources on October 8, 2026. Sources

Canada’s income tax system looks complicated from the outside, mostly because two governments tax the same income and because the rules turn on residency instead of citizenship. The moving parts are few, though: who is a resident, what counts as income, which rates apply, what reduces the bill, and when the return is due. This guide walks through each of them in the order a newcomer meets them, using figures and rules taken from Canada Revenue Agency (CRA) pages. It explains how the system works; it is not tax advice, and the notice of assessment in CRA My Account is the final word on any one person’s tax.

How does income tax work in Canada?

Income tax in Canada is calculated once a year, on one return, for income earned from January 1 to December 31. The CRA administers the system for the federal government and for every province and territory except Quebec, which collects its own provincial income tax through Revenu Québec.

The return follows the same sequence for everyone:

Add up income from every source: employment, self-employment, investments, rent, pensions and benefits.
Subtract deductions such as RRSP contributions and child care expenses. What is left is taxable income.
Apply the federal brackets, then the brackets of the province or territory of residence on December 31.
Subtract credits, starting with the basic personal amount that every resident can claim.
Compare the result with the tax already paid. Employers, pension payers and Employment Insurance deduct tax from each payment during the year. If more was deducted than the final bill, the CRA refunds the difference. If less was deducted, the balance is owing.

Two features surprise people arriving from other systems. First, the system is self-assessed: each person is responsible for reporting all income, including amounts that never appear on a slip, such as tips, cash jobs, rent from a spare room and income from abroad. Second, the return does more than settle tax. It is also the application for most federal and provincial benefits, which is why people with no income at all still file. The CRA asks filers to keep supporting documents for at least six years after filing.

To see the arithmetic for a specific salary, the Canadian income tax calculator applies the 2026 federal and provincial brackets together.

Who has to pay income tax in Canada?

Tax obligations in Canada depend on residency status for tax purposes, not on citizenship and not on immigration status. A work permit holder, an international student, a permanent resident and a citizen who are all residents of Canada for tax purposes are taxed the same way. The CRA says the most important factor is whether a person has established significant residential ties with Canada: a home in Canada, a spouse or common-law partner in Canada, or dependants in Canada. Secondary ties, such as a Canadian bank account, a driver’s licence, provincial health insurance or furniture and a car in Canada, are weighed as well.

Residency status for tax purposes and what Canada taxes

How to read this table: Residency status is a question of fact decided on all the circumstances. These are the CRA's general descriptions, not a ruling on any one case.

Status	When it applies	Income Canada taxes	Provincial tax
Resident (factual resident)	Has significant residential ties with Canada	World income for the whole year	Province or territory of residence on December 31
Newcomer (part-year resident in the year of arrival)	Left another country to settle in Canada and established significant residential ties during the year	World income for the part of the year resident in Canada; only certain Canadian-source income for the part of the year before that	Province or territory of residence on December 31
Deemed resident	No significant residential ties, but stayed in Canada 183 days or more in the year and is not treated as resident of another country under a tax treaty	World income for the entire tax year	A federal surtax instead of provincial or territorial tax
Non-resident	Normally lives in another country, has no significant residential ties and stays in Canada for less than 183 days in the tax year	Income from sources in Canada only	Depends on the type of income
Deemed non-resident	Has significant ties with Canada but is treated as a resident of another country under a tax treaty	Same rules as a non-resident	Depends on the type of income

For most newcomers, the CRA says residency starts on the first day they live in Canada, and it treats a person as a newcomer for the first year they are a resident for tax purposes. That first year is a part-year: world income is reported only for the part of the year after becoming resident, and only certain Canadian-source income, such as wages from a job in Canada, is reported for the part before.

Someone who has not set up significant ties but stays in Canada for 183 days or more in the year can be a deemed resident, taxed on world income for the entire year. Every day or part of a day in Canada counts toward the 183, including days at a Canadian college or university, working days and vacation days. A person who also remains a resident of a country that has a tax treaty with Canada may be a deemed non-resident instead, taxed only on Canadian-source income.

When the answer is unclear, Form NR74 (entering Canada) asks the CRA for its opinion, and Form NR73 does the same for people leaving. The NR74 residency determination guide goes through the form. Filing also needs an identity number: a Social Insurance Number from Service Canada, or a temporary tax number from the CRA for people Service Canada cannot issue a SIN to.

What are the federal income tax rates for 2026?

Federal income tax for 2026 starts at 14% on the first $58,523 of taxable income and rises through five brackets to 33% on taxable income above $258,482. Each rate applies only to the slice of income inside its bracket, so moving into a higher bracket never reduces take-home pay on the income below it.

Federal income tax brackets, 2026 tax year

How to read this table: Each rate applies from the limit in the row above (starting at $0) up to the limit in its own row. The dash in the last row means there is no upper limit.

Federal rate	Applies to taxable income up to
14%	$58,523
20.5%	$117,045
26%	$181,440
29%	$258,482
33%	—

Source: Current year tax rates and income brackets (2026) — Canada.ca; Indexation adjustment for personal income tax and benefit amounts — Canada.ca; T4127 Payroll Deductions Formulas, 122nd edition (effective January 1, 2026) — BPAF formula; T4127 Payroll Deductions Formulas, 122nd edition (effective January 1, 2026) — Federal changes; Form TD1, 2026 Personal Tax Credits Return (PDF) — Canada.ca; Form TD1-WS, Worksheet for the 2026 Personal Tax Credits Return (PDF) — Canada.ca; Budget 2025 — Tax measures, supplementary information (Top-Up Tax Credit) — credit rate; Budget 2025 — Tax measures, supplementary information (Top-Up Tax Credit) — top-up years; Line 34990 – Top-up tax credit — Canada.ca; Bill C-4 (45-1), Making Life More Affordable for Canadians Act — LEGISinfo; Bill C-15 (45-1), Budget 2025 Implementation Act, No. 1 — LEGISinfo; Bill C-15 (45-1), royal assent text, section 125 — new Income Tax Act subsection 118(11) Top-up tax credit. In effect from January 1, 2026 to December 31, 2026; checked September 29, 2026.

Not all income reaches the brackets. Every resident can claim the federal basic personal amount, which is $16,452 for 2026 for anyone with net income up to $181,440 and falls to $14,829 once net income reaches $258,482. It works as a credit at the lowest rate, worth $2,303.28 of federal tax for a full-year resident. Employees also get the Canada employment amount, up to $1,501.

Two terms come up constantly. The marginal rate is the combined federal and provincial rate on the next dollar earned. The average rate is total tax divided by total income, and it is always lower than the marginal rate because the first slices of income are taxed lightly or not at all. Deductions save tax at the marginal rate; most credits save tax at the lowest rate. The full set of thresholds, including the rates for earlier years, is in the Canada tax brackets guide.

How much provincial income tax is added on top?

Every province and territory adds its own income tax, calculated on the same taxable income with its own brackets and its own basic personal amount. The province that counts is the one where the person lives on December 31, even if they arrived there in November. The tables below show the four largest provinces for 2026.

Ontario income tax brackets, 2026 tax year

How to read this table: Each rate applies from the limit in the row above (starting at $0) up to the limit in its own row. Ontario also charges a surtax on higher amounts of provincial tax and a health premium, which the brackets do not show.

Ontario rate	Applies to taxable income up to
5.05%	$53,891
9.15%	$107,785
11.16%	$150,000
12.16%	$220,000
13.16%	—

British Columbia income tax brackets, 2026 tax year

How to read this table: Each rate applies from the limit in the row above (starting at $0) up to the limit in its own row; the dash means no upper limit.

B.C. rate	Applies to taxable income up to
5.6%	$50,363
7.7%	$100,728
10.5%	$115,648
12.29%	$140,430
14.7%	$190,405
16.8%	$265,545
20.5%	—

Alberta income tax brackets, 2026 tax year

How to read this table: Each rate applies from the limit in the row above (starting at $0) up to the limit in its own row; the dash means no upper limit.

Alberta rate	Applies to taxable income up to
8%	$61,200
10%	$154,259
12%	$185,111
13%	$246,813
14%	$370,220
15%	—

Quebec income tax brackets, 2026 tax year

How to read this table: Quebec tax is calculated on a separate provincial return filed with Revenu Québec. Each rate applies from the limit in the row above (starting at $0) up to the limit in its own row.

Quebec rate	Applies to taxable income up to
14%	$54,345
19%	$108,680
24%	$132,245
25.75%	—

The provincial basic personal amounts for 2026 differ widely: $12,989 in Ontario, $13,216 in British Columbia, $22,769 in Alberta and $18,952 in Quebec. Quebec’s rates look higher than the others, but Quebec residents get a 16.5% reduction of their federal tax, called the Quebec abatement, because the province runs programs that Ottawa funds elsewhere.

Each of these provinces has its own calculator page that applies the provincial rules in full: the Ontario income tax calculator, the British Columbia income tax calculator, the Alberta income tax calculator and the Quebec income tax calculator.

Worked example: income tax on a salary in Ontario

Take a full-year Ontario resident with taxable income of $70,000 in 2026 and only the basic personal amounts to claim. The income sits in the second federal bracket and the second Ontario bracket.

Step	Federal	Ontario
Tax on the first bracket	$8,193.22	$2,721.50
Tax on the rest of the income	$2,352.79	$1,473.97
Tax before credits	$10,546.01	$4,195.47
Basic personal amount credit	$2,303.28	$655.94
Income tax after the credit	$8,242.73	$3,539.53

Combined income tax is $11,782.26, an average rate of about 16.8%. The marginal rate on the next dollar is 29.65%. A real return would come out a little differently: credits for CPP contributions, EI premiums and the Canada employment amount reduce the tax, and the Ontario Health Premium adds to it. The example shows the method, not a quote.

What income is taxed in Canada?

A resident of Canada is taxed on world income: income from all sources, inside and outside Canada. The CRA’s general rule is that income earned is taxable and has to be reported even when no slip arrives and even when the activity is a side job. What differs between types of income is how much of it is added to taxable income and who reports it.

Main types of income and how each is taxed in Canada

How to read this table: All of these are added together on one return and taxed at the same federal and provincial brackets. Income earned inside a TFSA, RRSP or FHSA is not reported while it stays in the account.

Type of income	How it is taxed	Slip or form
Employment income (wages, salary, tips)	Added to income in full; the employer deducts income tax, CPP or QPP contributions and EI premiums from each pay	T4 slip
Self-employment and business income	Net income (revenue minus allowable expenses) is added to income; no tax is deducted at source, and CPP is paid through the return	Form T2125 (a T4A slip for some contract payments)
Interest (bank accounts, GICs, bonds, foreign interest)	Added to income in full, each year as it is earned	T5 or T3 slip; no T5 is issued for amounts under $50, but the interest is still reported
Dividends from Canadian corporations	The taxable (grossed-up) amount is added to income, then a dividend tax credit reduces the tax	T5, T3 or T5013 slip
Foreign dividends and other foreign income	Converted to Canadian dollars and added to income in full; no dividend tax credit, but a foreign tax credit may apply	Foreign statements; Form T2209 for the federal foreign tax credit
Capital gains (shares, funds, property other than a principal residence)	Only the taxable part of the gain, after allowable capital losses, is added to income	Schedule 3; T5008, T3 or T5 slips
Rental income	Net rental income (gross rents minus deductible expenses) is added to income	Form T776
Pensions, EI and other benefits	Added to income; tax may or may not be deducted at source	T4A, T4A(P), T4A(OAS), T4E or T5007 slip

Employment income

Wages, salary, bonuses, vacation pay and tips are added to income in full. The employer deducts income tax, Canada Pension Plan (CPP) contributions and Employment Insurance (EI) premiums from each pay and sends them to the CRA, so most employees have already paid their tax by the time they file. CPP and EI are not income tax, but they come off the same pay stub.

CPP and EI deductions from pay, 2026

How to read this table: Quebec employees pay into the Québec Pension Plan instead of the CPP and pay a lower EI rate. Self-employed people pay both the employee and employer share of CPP through their tax return.

Deduction	Earnings it applies to	Employee rate	Employee maximum	Self-employed maximum
CPP (base + first additional)	$3,500 to $74,600	5.95%	$4,230.45	$8,460.90
CPP2 (second additional)	$74,600 to $85,000	4%	$416	$832
EI premiums (outside Quebec)	Up to $68,900	1.63%	$1,123.07	Only if opted in
EI premiums (Quebec)	Up to $68,900	1.3%	$895.70	Only if opted in

Source: CPP contribution rates, maximums and exemptions — Canada.ca (all-years table, 2022 to 2026); Second additional CPP contribution (CPP2) rates and maximums — Canada.ca; Canada Pension Plan (CPP) and the CPP enhancement — Canada.ca (self-employed rates); EI premium rates and maximums — Canada.ca (federal table, 2022 to 2027); EI premium rates and maximums — Canada.ca (Quebec table, 2022 to 2027); EI premium rates and maximums — Canada.ca (employer premium multiplier); 2026 Benefit Amounts and Key Data — Retraite Québec (QPP maximums for workers and employers); 2026 Benefit Amounts and Key Data — Retraite Québec (QPP maximums for self-employed workers). In effect from January 1, 2026 to December 31, 2026; checked September 29, 2026.

The EI calculator and the CPP maximum contribution guide cover these two deductions, and the hourly to salary calculator converts an hourly wage to the yearly figure the brackets use.

Self-employment income

Freelancers, contractors, rideshare and delivery drivers and small business owners report business income on Form T2125. Tax applies to net income, meaning revenue minus the reasonable expenses of earning it. Three things work differently from a job:

No tax is deducted at source. The whole bill is settled through the return, and the CRA can require quarterly instalments once net tax owing is more than $3,000 a year ($1,800 for Quebec residents) in the current year and in either of the two years before it.
CPP is paid on both sides. A self-employed person pays the employee and employer shares, 11.9% of net earnings between $3,500 and $74,600 for 2026, to a maximum of $8,460.90. On net business income of $50,000, that is $5,533.50.
GST/HST starts at a threshold. A business stays a small supplier while its revenue does not exceed $30,000 over four consecutive calendar quarters. Passing $30,000 within a single calendar quarter means charging GST/HST from the sale that crossed the line; passing it across several quarters ends small-supplier status at the end of the month after that quarter, and registration is then required. Self-employed taxi and ride-sharing drivers have to register even below the threshold. The HST calculator shows the rate by province.

The filing deadline for self-employed people is later than for employees, but the payment deadline is not; the deadline section below sets out both.

Investment income

Investment income held outside a registered account is taxed in three different ways.

Interest from savings accounts, GICs and bonds is added to income in full, each year as it is earned, even when a compound GIC pays nothing until maturity. Banks may not issue a T5 slip for amounts under $50, but the interest is still reported.

Dividends from Canadian corporations are grossed up and then given a dividend tax credit, which reduces the tax on them. With no slip, the CRA’s instruction is to multiply an eligible dividend by 138%, so an eligible dividend of $1,000 is reported as $1,380 of taxable dividends before the credit. Other than eligible dividends use 115%. Foreign dividends are added to income at their actual Canadian-dollar amount and do not qualify for the dividend tax credit.

Capital gains arise when shares, funds or property are sold for more than they cost. The inclusion rate is 50%, so a gain of $10,000 adds $5,000 to taxable income, and capital losses can offset gains. The capital gains tax calculator works out the tax by province.

Newcomers get one important adjustment here. Certain property owned on the day of becoming resident, such as shares, jewellery, paintings or a collection, is treated as sold and immediately bought back at its fair market value that day. For that property, Canada taxes only the gain that builds up after arrival, and the CRA says newcomers should keep a record of those arrival-day values.

How is rental income taxed in Canada?

Rental income is taxed as ordinary income at the owner’s federal and provincial rates; there is no separate rental income tax rate in Canada. What is taxed is net rental income: the gross rents earned in the calendar year, minus the reasonable expenses of earning them. The calculation goes on Form T776, Statement of Real Estate Rentals, and the person who owns the property reports the income, with co-owners splitting it according to their ownership shares.

Rental expenses: what can and cannot be deducted

How to read this table: Rules from CRA Guide T4036, Rental Income. When part of a home is rented, only the rental portion of shared costs such as property tax, insurance and utilities is deductible.

Expense	CRA treatment
Mortgage interest	Deductible; interest on money borrowed to buy or improve the rental property
Property taxes	Deductible for the period the property was available for rent
Insurance	Deductible; premiums for the current year only
Repairs and maintenance	Deductible; labour and materials for minor repairs that keep the property in its original condition
Utilities	Deductible if the rental arrangement says the owner pays them
Management and administration fees	Deductible; amounts paid to manage the property, collect rents or find tenants
Advertising	Deductible, including a finder's fee
Legal and accounting fees	Deductible for preparing leases or collecting overdue rents; legal fees to buy the property are added to its cost
Condominium fees	Deductible; the owner's share of upkeep of the common property
Renovations and improvements (capital expenses)	Not deductible in full in the year; deducted over several years as capital cost allowance (CCA)
Capital cost allowance (CCA)	Optional; cannot be used to create or increase a rental loss
Mortgage principal	Not deductible
Land transfer tax	Not deductible; added to the cost of the property
Value of the owner's own labour	Not deductible
Penalties on a notice of assessment	Not deductible

The line that causes the most trouble is the one between a repair and an improvement. A current expense is deducted in the year it is paid. A capital expense is not: it is added to the cost of the property and deducted gradually as capital cost allowance (CCA), or left to reduce the capital gain when the property is sold.

Current expense or capital expense? The CRA's tests

How to read this table: No single test decides the question. The CRA looks at the answers together.

Question	Points to a capital expense	Points to a current expense
Does the expense give a lasting benefit?	Yes. Example, putting vinyl siding on the exterior walls of a wooden house	No, it recurs after a short period. Example, painting the exterior of a wooden house
Does it maintain or improve the property?	Improves it beyond its original condition. Example, replacing wooden steps with concrete steps	Restores it to its original condition. Example, repairing wooden steps
Is it a part of the property or a separate asset?	A separate asset. Example, buying a refrigerator for the rental unit	A part of the property. Example, rewiring that does not improve the building beyond its original condition
Was it done to make a used property suitable to rent, or in anticipation of selling?	Yes, treated as capital even if it would otherwise be a current expense	Not applicable

A worked example: a condo rented all year for gross rents of $24,000, with mortgage interest of $9,000, property taxes of $3,600, insurance of $1,200 and repairs of $1,400. Net rental income is $8,800. For the Ontario employee in the earlier example, that amount is taxed at the marginal rate of 29.65%, adding roughly $2,609.20 of income tax. The mortgage principal paid during the year changes nothing, because principal is not deductible.

Other rules that matter:

Rental losses. When expenses incurred to earn income exceed the rents, the loss can be deducted against other income. CCA cannot be used to create or increase a rental loss.
Renting to family below market. No loss can be claimed when a property is rented to someone the owner knows for less than a stranger would pay. A relative who only chips in for groceries or upkeep is a cost-sharing arrangement: the amount is not income and no expenses are claimed.
Rental income or business income. Renting space with basic services such as heat, light, parking and laundry is rental income. Adding services such as cleaning, security and meals can turn it into a business, reported on Form T2125 instead.
Short-term rentals. The CRA defines a short-term rental as a residential property rented for periods of less than 90 consecutive days. Expenses for what the CRA calls a non-compliant short-term rental, judged against the rules of the province or municipality where it is located, cannot be deducted.
Rental property outside Canada. A resident reports foreign rent as part of world income, in Canadian dollars, and can claim a foreign tax credit for tax paid to the other country. A rented foreign property is also specified foreign property for Form T1135.
Non-resident owners. A non-resident who receives Canadian rent has Part XIII tax withheld from the rent, usually at 25% unless a tax treaty lowers it, and can elect under section 216 to file a Canadian return for that rental income.
Selling the property. Any gain on a rental property is a capital gain, and in the year of sale CCA claimed earlier may have to be added back to income as recapture. Records for a rental are kept for six years from the end of the tax year they relate to.

Deductions and credits: what is the difference?

Deductions and credits both reduce tax, but at different points in the calculation, and the difference decides how much each one is worth.

	Deduction	Non-refundable credit	Refundable credit
What it reduces	Income that is taxed	Tax owing	Tax owing, with any excess paid out
What it is worth	The amount times the marginal rate	The amount times the lowest rate	The credit amount itself
Can it create a refund on its own?	No	No	Yes
Common examples	RRSP and FHSA contributions, child care expenses, support payments	Basic personal amount, spouse or common-law partner amount, tuition, medical expenses, donations	Canada workers benefit

For someone with a marginal rate of 29.65%, a deduction of $1,000 saves $296.50, while a federal non-refundable credit amount of $1,000 saves $140 of federal tax, plus a smaller provincial amount.

The CRA lists medical expenses, education expenses, child care expenses and moving expenses as expenses commonly claimed by newcomers. Two cautions apply. Moving expenses to come to Canada are generally not deductible, with an exception for full-time students who receive a taxable Canadian scholarship or research grant. And in the year of arrival, credits such as the basic personal amount are prorated by the number of days resident in Canada. A newcomer who becomes resident on July 1, 2026 is resident for 184 days, so the federal basic personal amount is $8,293.61 instead of $16,452. The full amounts can still be claimed if 90% or more of the person’s net world income for the part of the year before arrival came from Canadian sources. People with a qualifying impairment can find the rules for one of the larger credits in the disability tax credit guide.

Which tax slips do you need to file?

Tax slips are the statements that employers, banks and government agencies send to both the taxpayer and the CRA, showing income paid and tax deducted. Most arrive by the end of February; T3 and T5013 slips can arrive as late as the end of March.

Common Canadian tax slips

How to read this table: Quebec employers and payers also issue Relevé slips for the provincial return. Slips already sent to the CRA appear in CRA My Account.

Slip	Full name	What it shows	Prepared by
T4	Statement of Remuneration Paid	Employment income and the tax, CPP or QPP and EI deducted	Employer
T4A	Statement of Pension, Retirement, Annuity, and Other Income	Pension, retirement, annuity and other income	Payer or plan administrator
T4E	Statement of Employment Insurance and Other Benefits	Employment insurance and other benefits	Payer of the benefit
T5	Statement of Investment Income	Investment income such as interest and dividends	Payer, such as a financial institution
T3	Statement of Trust Income Allocations and Designations	Income allocated by a trust	Trust or its administrator
T5008	Statement of Securities Transactions	Securities transactions, including proceeds of disposition	Issuer or dealer
T2202	Tuition and Enrolment Certificate	Tuition and enrolment	Educational institution
T4RSP and T4FHSA	Statement of RRSP Income; First Home Savings Account Statement	Withdrawals and, for the FHSA, contributions	Plan issuer
T5007	Statement of Benefits	Benefits	Payer of the benefit

A missing slip does not remove the duty to report the income. Copies of current and earlier slips are available in CRA My Account, and income with no slip at all, such as rent, foreign income, cash work and interest under $50, is entered from the filer’s own records.

When is the income tax deadline in Canada?

The tax year ends on December 31, and most people must file and pay by April 30 of the following year. Self-employed people and their spouses or common-law partners have until June 15 to file, but their balance is still due April 30. The dates for the 2026 tax year are below.

Deadlines for the 2026 tax year

How to read this table: When a due date falls on a Saturday, Sunday or public holiday, the CRA treats a return as on time if it is received or postmarked on the next business day, and a payment as on time if it is received on the next business day.

Deadline	What is due	Who it applies to	Status
March 15, June 15, September 15, December 15, 2026	Quarterly instalments toward 2026 tax	People required to pay instalments for 2026	Published by the CRA
December 31, 2026 (Thursday)	Single yearly instalment toward 2026 tax	Farmers and fishers	Published by the CRA
March 1, 2027 (Monday)	Last day for RRSP contributions deductible on the 2026 return	Anyone claiming an RRSP deduction for 2026	Set by the Income Tax Act (60 days after year-end); CRA date page not yet posted
April 30, 2027 (Friday)	File the 2026 return and pay any 2026 balance owing	Most people; payment date applies to everyone	Set by the Income Tax Act; CRA date page not yet posted
June 15, 2027 (Tuesday)	File the 2026 return	Self-employed people and their spouse or common-law partner	Set by the Income Tax Act; CRA date page not yet posted

Source: Due dates and payment dates — Personal income tax — Canada.ca (filing dates for 2025 taxes); Due dates and payment dates — Canada.ca (TFSA tax deadline); Filing due dates for the 2025 tax return — Canada.ca (most people); Filing due dates for the 2025 tax return — Canada.ca (self-employed and tax shelters); Filing due dates for the 2025 tax return — Canada.ca (weekend and holiday rule); Filing due dates for the 2025 tax return — Canada.ca (benefits at risk from late filing); Important dates for RRSPs, HBP, LLP, FHSAs and more — Canada.ca; Line 20800 – RRSP deduction — Canada.ca (contribution window for the 2025 return); Filing and payment due dates for your 2025 T1-OVP return — Canada.ca; Line 48500 – Balance owing — Canada.ca; Line 48500 – Balance owing — Canada.ca (daily compound interest); Interest and penalties on late taxes — Canada.ca (late-filing penalty); Interest and penalties on late taxes — Canada.ca (penalty applies only when tax is owed); Interest and penalties on late taxes — Canada.ca (instalment penalty threshold and relief window); Interest and penalties on late taxes — Canada.ca (cancel or waive requests); Interest rates for the fourth calendar quarter — Canada.ca (prescribed rates, October 1 to December 31, 2026); Required tax instalments for individuals — Canada.ca (who pays and due dates); Required tax instalments — Payment due dates — Canada.ca; Tax software for filing personal taxes (NETFILE) — Canada.ca; Filing and payment due dates — Doing taxes for someone who died — Canada.ca (final return); Filing and payment due dates — Doing taxes for someone who died — Canada.ca (self-employed final return); Filing and payment due dates — Doing taxes for someone who died — Canada.ca (T3 return); Non-residents of Canada — Canada.ca (filing due date); Income Tax Act s. 150(1)(d) — Justice Laws Website (filing due dates for individuals, every year); Income Tax Act s. 150(1)(d)(ii) — Justice Laws Website (June 15 for business income); Income Tax Act s. 248(1) "balance-due day" — Justice Laws Website (payment due date, every year); Income Tax Act s. 146(5) — Justice Laws Website (RRSP premiums deductible up to 60 days after year-end); Filing and payment due dates — Doing taxes for someone who died — Canada.ca (unfiled return for the year before death); Filing and payment due dates — Doing taxes for someone who died — Canada.ca (business on the date of death); Required tax instalments — Payment due dates — Canada.ca (farmers, fishers and deceased persons); Due dates and payment dates — Canada.ca (Canada Groceries and Essentials Benefit, formerly the GST/HST credit); Interest and penalties on late taxes — Canada.ca (interest on reassessed amounts); Filing and payment due dates — Doing taxes for someone who died — Canada.ca (surviving spouse's payment date). In effect from January 1, 2026 to June 15, 2027; checked September 30, 2026.

Filing late with a balance owing brings a late-filing penalty of 5% of the balance, plus 1% for each full month the return is late, up to 12 months. On a balance of $2,000 filed three full months late, the penalty is $160, before interest. The CRA also charges compound daily interest on overdue amounts, at 7% for October to December 2026. A return with a refund or no balance attracts no late-filing penalty, but benefits can stop until it is filed.

Newcomers who arrived during 2025 and have not yet filed a 2025 return can still do so electronically: NETFILE accepts 2025 returns until January 29, 2027. Every date, the instalment schedule and the special cases are in the tax deadline guide.

How do registered accounts change the tax bill?

Registered accounts are the main legal way to reduce income tax on savings in Canada, and each one works differently.

TFSA (Tax-Free Savings Account). Contributions are not deductible, but growth and withdrawals are not taxed. The 2026 limit is $7,000. Contribution room starts to build in the year you turn 18, if you're a resident of Canada (and no earlier than 2009), so a newcomer has room only for the years they have been a resident, not the full lifetime total often quoted online.
RRSP (Registered Retirement Savings Plan). Contributions are deducted from income, growth is sheltered and withdrawals are taxed. Room is unused room carried forward, plus the lesser of 18% of last year's earned income and the annual RRSP limit, minus your pension adjustment, up to $33,810 for 2026. Because room comes from the previous year’s earned income in Canada, the CRA says RRSP contributions generally cannot be deducted in the first year a return is filed in Canada.
FHSA (First Home Savings Account). Contributions are deductible like an RRSP and qualifying withdrawals for a first home are tax-free like a TFSA. Participation room is $8,000 a year, with a lifetime limit of $40,000.
RESP (Registered Education Savings Plan). Contributions are not deductible, but government grants are added and growth is taxed in the student’s hands on withdrawal; the RESP guide has the grant rules.

Contributing to a TFSA while a non-resident, or beyond the available room, triggers a monthly penalty tax, which is the trap described in the TFSA over-contribution guide. Which account to fill first depends on income and goals; the TFSA vs RRSP comparison and the FHSA guide lay out the trade-offs without recommending one.

These accounts are opened at a bank, credit union or brokerage, and the tax rules are identical everywhere; fees and investment choices are what differ. For newcomers who want to hold their own ETFs or stocks, Wealthsimple's self-directed accounts are one option to compare with a bank’s offering, and the Wealthsimple TFSA page explains how its version works.

World income, foreign property and Form T1135

From the date of becoming resident, a newcomer reports world income in Canadian dollars: a salary still paid from abroad, interest on a foreign bank account, rent from a home in the country they left, foreign pensions and foreign dividends. The CRA’s instruction is to use the Bank of Canada exchange rate in effect on the day the income arose, or the average annual rate for a monthly pension or other payments spread through the year. Double taxation is relieved in two ways. Where a tax treaty stops Canada from taxing a type of income, the income is reported and then deducted on line 25600. Where both countries tax it, a federal foreign tax credit is claimed with Form T2209; in most cases the claim for each country is the lesser of the foreign income tax paid and the Canadian tax due on that foreign income.

Tax rules that apply in a newcomer's first year

How to read this table: From the CRA's instructions for completing a newcomer's return. They apply to the tax year in which a person first becomes a resident of Canada.

Topic	Rule
Income earned abroad before becoming resident	Not taxed in Canada, but reported to the CRA (for up to two years before arrival) so benefits can be calculated
Income after becoming resident	World income, from inside and outside Canada, is reported in Canadian dollars
Property owned on arrival	Treated as acquired at its fair market value on the date of becoming resident, so only gains after arrival are taxed
Non-refundable credits such as the basic personal amount	Prorated by the number of days resident in Canada, unless 90% or more of net world income for the non-resident part of the year was Canadian-source
RRSP deduction	Generally none in the first year a return is filed in Canada
Moving expenses to Canada	Generally not deductible
Income exempt under a tax treaty	Reported, then deducted on line 25600
Foreign tax paid on income also taxed in Canada	A federal foreign tax credit may be claimed with Form T2209
Form T1135	Not required for the tax year in which the person first became resident
Quebec residents	A separate provincial return is filed with Revenu Québec

Separate from the tax itself is a disclosure form. Form T1135, the Foreign Income Verification Statement, must be filed by residents who, at any time in the year, owned specified foreign property with a total cost of more than $100,000. The test uses cost, not market value, and it adds every holding together.

Form T1135: when it has to be filed

How to read this table: Cost amounts are in Canadian dollars. For a new resident, the cost of property owned on arrival is its fair market value on the date of becoming resident.

Situation	What the CRA requires
Total cost of specified foreign property was never more than $100,000 in the year	No T1135; income from the property is still reported on the return
Total cost was more than $100,000 but less than $250,000 throughout the year	File T1135; the simplified method (Part A) is allowed
Total cost was $250,000 or more at any time in the year	File T1135 with the detailed method (Part B)
The tax year in which the person first became resident in Canada	No T1135 for that year
Specified foreign property held inside an RRSP or a TFSA	Excluded from T1135 reporting
Personal-use property, including vacation property used primarily as a personal residence	Not specified foreign property; left off the T1135

Specified foreign property includes money in foreign bank accounts, shares of foreign companies (even when held at a Canadian brokerage outside a registered account), foreign bonds, interests in foreign trusts and rented foreign real estate. A newcomer with $80,000 in a bank account abroad and foreign shares worth $60,000 on arrival has $140,000 of specified foreign property: no form for the arrival year, then a T1135 for each later year in which the total cost is above $100,000 at any time, using the simplified method while it stays under $250,000 throughout the year. The form is due on the same date as the return, and income from foreign property is taxable whether or not the form is required. The Form T1135 guide covers the categories, the two reporting methods and the penalties for late filing.

Which benefits depend on filing a tax return?

Most federal and provincial benefits are calculated from the tax return, so filing every year matters even with no income and no tax owing. The CRA says it uses the return each year to calculate benefit and credit payments, and both spouses or common-law partners have to file.

The largest for families is the Canada child benefit (CCB), a tax-free monthly payment.

Canada child benefit maximums, July 2026 to June 2027

How to read this table: Maximum amounts for families with adjusted family net income under the first threshold. The benefit is reduced as income rises.

Amount	Per year	Per month
Each child under 6	$8,157	$679.75
Each child aged 6 to 17	$6,883	$573.58
Child disability benefit, each child eligible for the disability tax credit (added on top)	$3,480	$290

Newcomers do not have to wait for a first return. The CRA accepts applications on arrival: Form RC66 for families eligible for the CCB, which also covers the Canada Groceries and Essentials Benefit (the former GST/HST credit), and Form RC151 for that benefit in other households, with one application per household. The CRA asks for income from all sources for up to two years before arrival, for the applicant and any spouse or common-law partner; it is used to calculate benefit amounts, and income earned abroad before becoming resident is not taxed in Canada. A temporary resident can start receiving the CCB in the 19th month of living in Canada, provided they hold a valid permit.

Benefits tied to the return include:

the Canada child benefit and provincial child benefits
the Canada Groceries and Essentials Benefit, paid quarterly
the Canada workers benefit, a refundable credit for low-income workers
provincial credits such as the Ontario Trillium Benefit
for seniors, the Guaranteed Income Supplement

Payment dates for all CRA benefits are on the CRA payment dates calendar.

How to file a first Canadian tax return

Get a SIN or, where Service Canada cannot issue one, a temporary tax number from the CRA.
Note the date of becoming resident. It goes on page one of the return and drives the prorated credits.
Collect slips and records: T4 and other slips, foreign income statements, rent and expense records, receipts for child care, tuition, medical expenses and donations, and the arrival-day values of property owned abroad.
Work out world income for the resident part of the year and Canadian-source income for the part before.
Choose a filing method. NETFILE-certified software sends the return online, and the CRA says processing usually takes 2 weeks, against at least 8 weeks for a paper return. NETFILE is open to anyone with a SIN starting with 1 to 9, newcomers whose SIN starts with 0, or a temporary tax number starting with 01 or 03. The CRA’s note on the NETFILE access code for a first return: you won't have an access code — the code is optional, and the software can still send the return.
File by the deadline and pay any balance, then register for CRA My Account to see the notice of assessment, benefit payments and RRSP and TFSA room.
In Quebec, file the provincial return with Revenu Québec as well.

On software: Wealthsimple Tax is one of the certified products, priced as Basic: pay what you want; Plus: $40 + tax (free for Premium); Pro: $80 + tax (free for Generation), and it is CRA and Revenu Québec NETFILE-certified (tax years 2023–2025). For a return with one or two slips it is a low-cost route, and Wealthsimple Tax can be compared with the alternatives in the free tax software comparison and the Wealthsimple Tax vs TurboTax comparison. Software does not decide residency dates, treaty positions or the value of foreign property, though; those inputs come from the filer, and a first return with foreign income, a rental or a business is where many newcomers pay for a professional.

Free help exists for simple situations. Volunteer tax clinics prepare returns for people with modest income, with a suggested income limit of $40,000 for one person, but the clinics do not handle self-employment, business or rental income, capital gains or losses, interest over $1,200, foreign property or foreign income, bankruptcy, and a deceased person's return.

Common mistakes in a first year of Canadian tax

Assuming immigration status decides tax. Residential ties do. A temporary resident with a home and family in Canada is taxed as a resident.
Leaving foreign income off the return. World income is reported from the date of becoming resident, even when the other country already taxed it; the foreign tax credit deals with the overlap.
Deducting foreign tax from income. The CRA’s instruction is to report the full income and claim the credit separately.
Claiming a full basic personal amount in the arrival year without meeting the 90% test.
Not recording arrival-day values. Without them, the gain on property sold later cannot be split between before and after arrival.
Treating mortgage payments as a rental expense. Only the interest is deductible, not the principal.
Claiming CCA to create a rental loss, which the rules do not allow.
Forgetting Form T1135 in the second year, when the first-year exemption has ended.
Not filing because no tax is owing. The return is what keeps the CCB, the Canada Groceries and Essentials Benefit and provincial credits coming.
Mixing up the two June dates. June 15 is a filing deadline for the self-employed; the payment deadline stays April 30.

What changes next?

Federal and provincial brackets and most credit amounts are indexed to inflation every January, and the CRA publishes the new figures late in the year; this guide is updated when the 2027 amounts are posted. The rules described here for residency, rental expenses and Form T1135 are not indexed and change only when the law does.

Tax guides and calculators on YieldMaple

Calculators: the income tax calculator with pages for Ontario, British Columbia, Alberta and Quebec, the capital gains tax calculator and the RRSP withdrawal tax calculator.

Rates and dates: Canada tax brackets, the tax deadline guide and the guide to using the TFSA, RRSP and FHSA together.

Newcomer paperwork: SIN application steps, the first tax return for newcomers, Form T1135 for foreign property and the NR74 residency determination. All newcomer pages are listed on the newcomer hub.

Frequently asked questions

How does income tax work in Canada?

Each resident reports income for the calendar year on one income tax and benefit return, sent to the Canada Revenue Agency (CRA). Deductions reduce the income that is taxed, federal and provincial rates are applied in brackets, and credits reduce the tax. Employers deduct tax from pay during the year, so the return settles the difference: a refund when too much was deducted, a balance owing when too little was. Quebec residents also file a separate provincial return with Revenu Québec.

How much income tax do you pay in Canada?

The federal rates for 2026 are 14% on the first $58,523 of taxable income, 20.5% up to $117,045, 26% up to $181,440, 29% up to $258,482 and 33% above that. Provincial or territorial tax is added on top, for example 5.05% on the first $53,891 in Ontario. Each rate applies only to the income inside its bracket, and the basic personal amount of $16,452 shelters the first part of income from federal tax.

Do newcomers pay Canadian tax on income earned before moving to Canada?

No. The CRA states that money earned outside Canada before a person became a resident is not taxed in Canada. That income is still reported to the CRA, for up to two years before arrival, because benefits such as the Canada child benefit and the Canada Groceries and Essentials Benefit are calculated from family income. Once resident, world income from inside and outside Canada is reported on the return in Canadian dollars.

When do you become a resident of Canada for tax purposes?

Residency for tax starts when a person has enough residential ties in Canada, and the CRA says that for most newcomers this is the first day they live in Canada. The significant ties are a home in Canada, a spouse or common-law partner in Canada and dependants in Canada. Someone without those ties who stays 183 days or more in a year can be a deemed resident. Form NR74 asks the CRA for its opinion in unclear cases.

How is rental income taxed in Canada?

Rental income is added to the owner's other income and taxed at ordinary federal and provincial rates, with no special rental rate. Tax applies to net rental income: gross rents for the calendar year minus deductible expenses such as mortgage interest, property taxes, insurance, utilities, repairs and management fees. The calculation goes on Form T776, and co-owners report their share based on ownership. Mortgage principal, land transfer tax and the owner's own labour are not deductible.

Can a rental loss be deducted from other income in Canada?

Yes, when the expenses were incurred to earn income. The CRA says a rental loss can be deducted against other sources of income. Two limits apply: capital cost allowance cannot be used to create or increase a rental loss, and no loss can be claimed when a property is rented to someone the owner knows for less than a stranger would pay, or when the arrangement only shares costs.

Is foreign income taxable in Canada?

For a resident of Canada, yes. Residents report world income, which is income from all sources inside and outside Canada, converted to Canadian dollars. If the other country also taxed the income, a federal foreign tax credit can be claimed with Form T2209 so the same income is not taxed twice, and income a tax treaty exempts is reported and then deducted on line 25600. Foreign dividends do not qualify for the dividend tax credit.

What is Form T1135 and do newcomers have to file it?

Form T1135, the Foreign Income Verification Statement, is filed by Canadian residents who owned specified foreign property costing more than $100,000 in total at any time in the year. It covers foreign bank accounts, foreign shares and rented foreign real estate, but not personal-use property. A newcomer does not file it for the tax year in which they first became resident, and their cost for later years is the fair market value on the date they became resident.

When is the income tax deadline in Canada?

Most people must file by April 30 of the year after the tax year, so the 2026 return is due April 30, 2027. Self-employed people and their spouses or common-law partners have until June 15, 2027 to file, but any balance owing is still due April 30. Filing late with a balance owing costs 5% of the balance plus 1% for each full month late, for up to 12 months.

Do you have to file a tax return in Canada with no income?

A return is required when tax is owing, when the CRA asks for one, or when self-employment and pensionable earnings pass $3,500 so that CPP contributions are due. It is also the only way to keep benefits flowing: the CRA uses the return each year to calculate benefit and credit payments, even for someone who owes no tax or has no income to report. Both spouses or common-law partners need to file.

What is the difference between a tax deduction and a tax credit?

A deduction reduces the income that is taxed, so its value depends on the person's marginal rate; RRSP contributions and child care expenses are deductions. A non-refundable credit reduces the tax itself, at the lowest federal rate of 14% for 2026, and cannot produce a refund on its own. A refundable credit, such as the Canada workers benefit, is paid even when no tax is owing.

Is Wealthsimple Tax free for a first Canadian tax return?

Wealthsimple Tax lists its plans as Basic: pay what you want; Plus: $40 + tax (free for Premium); Pro: $80 + tax (free for Generation), so the Basic plan can cost nothing, and the software is CRA and Revenu Québec NETFILE-certified (tax years 2023–2025). It files online through NETFILE, which is open to anyone with a SIN starting with 1 to 9, newcomers whose SIN starts with 0, or a temporary tax number starting with 01 or 03. A first return with foreign income, a rental property or a business takes more care than a single T4 slip, and some newcomers pay for a professional preparer in that first year.

Rules, rates and sources

Last verified: September 29, 2026
Next scheduled check: December 30, 2026

Rule or table	In effect from	Verified
How Canadian income tax works for newcomers — residency, income types, rental income, slips, foreign property and first-return rules	January 1, 2026	October 8, 2026
Federal income tax brackets and key credits (2026)	January 1, 2026 to December 31, 2026	September 29, 2026
Provincial and territorial income tax brackets and basic personal amounts (2026)	January 1, 2026 to December 31, 2026	September 29, 2026
Canadian personal income tax deadlines — 2025 tax year (filed in 2026), 2026 instalments, rules for the 2026 tax year, penalties and special cases	January 1, 2026 to June 15, 2027	September 30, 2026
Capital gains inclusion rate, loss rules and principal residence rules (individuals)	January 1, 2001	September 30, 2026
CPP, CPP2, QPP and EI maximums for employees, employers and self-employed people (2026, with history)	January 1, 2026 to December 31, 2026	September 29, 2026
Canada child benefit amounts and income thresholds (display tables)	July 1, 2026 to June 30, 2027	September 29, 2026

Official sources

Determining your residency status — Canada.ca (residential ties) — Canada Revenue Agency
Newcomers to Canada and the CRA — Canada.ca (when residency starts) — Canada Revenue Agency
Completing your return for newcomers — Canada.ca (world income for the resident part of the year) — Canada Revenue Agency
Deemed residents of Canada — Canada.ca (tax obligations) — Canada Revenue Agency
Non-residents of Canada — Canada.ca (tax obligations) — Canada Revenue Agency
Who has to file a return — Canada.ca — Canada Revenue Agency
Tax slips — Canada.ca (when slips arrive) — Canada Revenue Agency
Line 12100, Interest and other investment income — Canada.ca — Canada Revenue Agency
Lines 12000 and 12010, Taxable amount of dividends — Canada.ca — Canada Revenue Agency
Foreign tax credit, line 40500 — Canada.ca — Canada Revenue Agency
Report business income and expenses — Canada.ca — Canada Revenue Agency
When to register for and start charging the GST/HST — Canada.ca — Canada Revenue Agency
T4036 Rental Income — Canada.ca (rental income or business income) — Canada Revenue Agency
Foreign Income Verification Statement — Canada.ca (who has to report) — Canada Revenue Agency
Questions and answers about Form T1135 — Canada.ca (new residents) — Canada Revenue Agency
Current year tax rates and income brackets (2026) — Canada.ca — Canada Revenue Agency
Indexation adjustment for personal income tax and benefit amounts — Canada.ca — Canada Revenue Agency
T4127 Payroll Deductions Formulas, 122nd edition (effective January 1, 2026) — BPAF formula — Canada Revenue Agency
Form TD1, 2026 Personal Tax Credits Return (PDF) — Canada.ca — Canada Revenue Agency
Form TD1-WS, Worksheet for the 2026 Personal Tax Credits Return (PDF) — Canada.ca — Canada Revenue Agency
Budget 2025 — Tax measures, supplementary information (Top-Up Tax Credit) — credit rate — Department of Finance Canada
Line 34990 – Top-up tax credit — Canada.ca — Canada Revenue Agency
Bill C-4 (45-1), Making Life More Affordable for Canadians Act — LEGISinfo — Parliament of Canada
Bill C-15 (45-1), Budget 2025 Implementation Act, No. 1 — LEGISinfo — Parliament of Canada
Bill C-15 (45-1), royal assent text, section 125 — new Income Tax Act subsection 118(11) Top-up tax credit — Parliament of Canada
T4127 Payroll Deductions Formulas, 123rd edition (effective July 1, 2026) — British Columbia lowest rate — Canada Revenue Agency
Personal Income Tax — Newfoundland and Labrador Department of Finance (2026 rates and credits) — Government of Newfoundland and Labrador
Personal income tax rates — Province of British Columbia (2026 tax year) — Government of British Columbia
Basic tax credits — Province of British Columbia (2026 base amounts) — Government of British Columbia
Personal Income Taxes — Manitoba Finance (indexation paused from 2025) — Government of Manitoba
Information Bulletin 126 — Taxation Changes, Budget 2026 (PDF) — no personal income tax bracket changes — Government of Manitoba
Form MB428, Manitoba Tax 2025 (PDF) — frozen thresholds as used on the return — Canada Revenue Agency
Form ON428, Ontario Tax 2025 (PDF) — Ontario health premium chart — Canada Revenue Agency
Health premium — Ontario.ca — Government of Ontario
Worksheet AB428, 2025 (PDF) — Alberta supplemental tax credit — Canada Revenue Agency
Income Tax Rates — Revenu Québec (2026) — Revenu Québec
Employers: Principal Changes for 2026 — Revenu Québec (Québec basic personal amount) — Revenu Québec
TP-1015.F-V (2026-01), Formulas for calculating source deductions (PDF) — Québec credit conversion rate — Revenu Québec
Parameters of the Personal Income Tax System for 2026 (PDF) — Ministère des Finances du Québec
T4032-QC Payroll Deductions Tables, January 2026 — general information (Quebec abatement) — Canada Revenue Agency
Quebec Abatement — Canada.ca — Department of Finance Canada
Due dates and payment dates — Personal income tax — Canada.ca (filing dates for 2025 taxes) — Canada Revenue Agency
Filing due dates for the 2025 tax return — Canada.ca (most people) — Canada Revenue Agency
Important dates for RRSPs, HBP, LLP, FHSAs and more — Canada.ca — Canada Revenue Agency
Line 20800 – RRSP deduction — Canada.ca (contribution window for the 2025 return) — Canada Revenue Agency
Filing and payment due dates for your 2025 T1-OVP return — Canada.ca — Canada Revenue Agency
Line 48500 – Balance owing — Canada.ca — Canada Revenue Agency
Interest and penalties on late taxes — Canada.ca (late-filing penalty) — Canada Revenue Agency
Interest rates for the fourth calendar quarter — Canada.ca (prescribed rates, October 1 to December 31, 2026) — Canada Revenue Agency
Required tax instalments for individuals — Canada.ca (who pays and due dates) — Canada Revenue Agency
Required tax instalments — Payment due dates — Canada.ca — Canada Revenue Agency
Tax software for filing personal taxes (NETFILE) — Canada.ca — Canada Revenue Agency
Filing and payment due dates — Doing taxes for someone who died — Canada.ca (final return) — Canada Revenue Agency
Income Tax Act s. 150(1)(d) — Justice Laws Website (filing due dates for individuals, every year) — Department of Justice Canada
Income Tax Act s. 248(1) "balance-due day" — Justice Laws Website (payment due date, every year) — Department of Justice Canada
Income Tax Act s. 146(5) — Justice Laws Website (RRSP premiums deductible up to 60 days after year-end) — Department of Justice Canada
Income Tax Act, section 38 (Taxable capital gain and allowable capital loss) — Justice Laws Website — Department of Justice Canada
Prime Minister Carney cancels proposed capital gains tax increase (March 21, 2025) — Prime Minister of Canada
Update on the Canada Revenue Agency's administration of the proposed capital gains taxation changes (January 31, 2025) — Canada Revenue Agency
Calculating and reporting your capital gains and losses — Canada.ca (formula) — Canada Revenue Agency
Capital losses and deductions — Canada.ca (2025 inclusion rate) — Canada Revenue Agency
Principal residence and other real estate — Canada.ca (exemption) — Canada Revenue Agency
Income Tax Act, paragraph 40(2)(b) — principal residence formula — Department of Justice Canada
What is a TFSA — Canada.ca — Canada Revenue Agency
Registered Retirement Savings Plan (RRSP) — Canada.ca — Canada Revenue Agency
CPP contribution rates, maximums and exemptions — Canada.ca (all-years table, 2022 to 2026) — Canada Revenue Agency
Second additional CPP contribution (CPP2) rates and maximums — Canada.ca — Canada Revenue Agency
Canada Pension Plan (CPP) and the CPP enhancement — Canada.ca (self-employed rates) — Canada Revenue Agency
EI premium rates and maximums — Canada.ca (federal table, 2022 to 2027) — Canada Revenue Agency
2026 Benefit Amounts and Key Data — Retraite Québec (QPP maximums for workers and employers) — Retraite Québec
How much you can get - Canada child benefit (CCB) — Canada.ca (payment period) — Canada Revenue Agency
Child disability benefit (CDB) — Canada.ca (added automatically) — Canada Revenue Agency
CCB and CDB payment amounts (base years 2022-2024) — Canada.ca (maximums, base year 2024) — Canada Revenue Agency
Wealthsimple Tax pricing — wealthsimple.com
TFSA annual dollar limit (2026) — canada.ca
When TFSA room starts accumulating — canada.ca
RRSP deduction limit rule — canada.ca
FHSA annual participation room — canada.ca
FHSA lifetime limit — canada.ca
Who can use NETFILE — canada.ca
NETFILE access code for first-time filers — canada.ca
Free tax clinic (CVITP) suggested income threshold for one person — canada.ca

How we check figures: our methodology and editorial policy.

General information for education, not financial, tax, legal or immigration advice. Rules change — confirm anything you act on with the official source or a licensed professional (for immigration, a lawyer or a licensed consultant registered with the College of Immigration and Citizenship Consultants).