Articles
Plain-language reference articles on Canadian personal finance topics. 174 articles, each verified against an official source and linked to a calculator.
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How to Apply for EI Sickness Benefits in Canada
Off work for medical reasons? See the Service Canada EI sickness conditions, medical certificate, application, ROE and reporting steps.
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How to Ask Service Canada to Reconsider an OAS or GIS Decision
Disagree with an Old Age Security or Guaranteed Income Supplement decision? Find the 90-day reconsideration window and Service Canada's submission routes.
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Canada Child Benefit Payment Missing? What to Check
An expected CCB payment has not arrived? Check the CRA payment date, your account and common reasons payments stop before using the CCB contact route.
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How to Change Your Marital Status with the CRA
Married, separated, divorced or newly common-law? See when to tell CRA, how to update your account, and what to check about benefits.
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How to Get and Read Your CRA Notice of Assessment
Need your CRA notice of assessment? Find it in your account or request a paper copy, then see which parts answer your tax-return question.
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EI Reconsideration: What to Do If You Disagree With a Decision
Disagree with an EI decision? See the current reconsideration form, 30-day request period, and what happens after Service Canada reviews it.
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CRA Account Locked? How to Regain Access
Locked out of your CRA account? Check whether it is a temporary MFA wait, then follow CRA's registration or contact route.
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Missing a T4 or Other Tax Slip? How to File Your Return in Canada
Missing a T4 or another tax slip? Ask the issuer, check CRA My Account, and use CRA's current instructions if the slip is still unavailable when you file.
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Missing Record of Employment: Apply for EI and Check Your ROE
Your employer has not sent your Record of Employment? See when to apply for EI, where to check the ROE, and who to contact.
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Tax Refund Delayed in Canada: What to Check and When to Call CRA
Check your return status, see why a refund can be smaller or held, and know when CRA says to call.
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How to Change Direct Deposit for CPP, OAS and EI
Find the right Service Canada route for an OAS, CPP or EI banking change—and why updating the CRA alone is not enough.
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How to Check and Correct Your CPP Statement of Contributions
Find your CPP contribution record, check it against your tax slips, and learn what to do if a year or amount looks wrong.
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How to Change CRA Direct Deposit and Check Your Next Payment
Follow CRA's official direct-deposit change steps and check where your next payment goes.
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How Long Can a Bank Hold a Cheque in Canada?
A plain-language guide to cheque-hold times and the first-$100 access rule.
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How to Change a Canadian Tax Return After Filing
Found a mistake after filing? Wait for CRA to assess the return, then use the route your return qualifies for to request a change.
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NSF Fees in Canada: The $10 Federal Cap and What to Check
The federal $10 NSF-fee cap has three separate protections. See which accounts it covers and how to question a charge.
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CRA GST/HST Review or Audit Letter: What to Do Next
A practical path from a CRA GST/HST letter to the right records, response and dispute route.
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GST and PST in BC: Rates, Receipts and the 2026 Pause
Understand why a BC receipt may show GST, PST, both or neither, and where to check the official rules.
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Québec Solidarity Tax Credit 2026–27: Payment Dates and What to Check
Find out when Québec's solidarity tax credit is paid and how to check your claim or a missing deposit.
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How Is Overtime Taxed in Canada?
Overtime is taxable pay, but it does not have its own permanent tax rate. See why deductions can look higher on one paycheque.
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Working While on EI in Canada: Earnings, Reports and Benefit Reductions
Learn how part-time work affects EI, what to report each week, and where to check your claim.
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Ontario Trillium Benefit 2026: Eligibility, Application and Payments
See what the Ontario Trillium Benefit covers, how to apply using your 2025 tax return, and when 2026 payments are issued.
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What Happens to an RESP if the Child Does Not Go to School?
An unused RESP does not have to be closed the moment plans change. See what may happen to contributions, grants and earnings, and what to ask the provider first.
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RESP Withdrawals in Canada: Contributions, EAPs and Tax Slips
When a student starts school, an RESP can pay out contributions and education assistance payments. Learn which part is taxable and what the provider needs.
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RESP Government Grants in Canada: CESG and Canada Learning Bond
An RESP can receive a federal contribution-matching grant and, for an eligible child, a bond that needs no contribution. Here is how to check both and apply.
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How to Switch Bank Accounts in Canada Without Missing Payments
Moving to a new bank account? Use this order to update direct deposits, bills and pre-authorized debits before closing the old one.
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Unauthorized Debit Card Transaction in Canada: What to Do
Found a debit-card charge or withdrawal you did not approve? Report it to your financial institution promptly, secure the account, and keep a record of the investigation.
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How to Cancel a Pre-Authorized Debit in Canada
Want a company to stop taking payments from your bank account? Learn how to cancel the debit, check the next withdrawal, and handle one that goes through anyway.
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CPP Disability Reconsideration: What to Do After a Denial
Learn the 90-day CPP disability reconsideration deadline, what to include, how to submit your request, and what happens next.
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How to Dispute Errors on Your Credit Report in Canada
Find an error on your Equifax or TransUnion report? Here is how to document it, submit a free dispute, and follow up.
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New Brunswick New Housing Rebate: HST Provincial Rebate Rules and Examples
New Brunswick is a 15% HST province (5% federal + 10% provincial) but unlike Ontario and Nova Scotia, NB does NOT currently offer a provincial new housing rebate. NB buyers can still claim the federal GST/HST new housing rebate on the federal 5% portion (36%, max $6,300, full at <$350K, phased out by $450K). This article explains the federal rebate calculation for NB buyers and lists the buyer programs that do exist in NB.
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TFSA Explained 2026: Contribution Room, Withdrawals, Taxes, and Common Mistakes
A Tax-Free Savings Account (TFSA) lets you contribute up to $7,000 per year in 2026 ($109,000 cumulative for someone eligible since 2009) with investment growth, interest, dividends, and capital gains earned inside the account all tax-free. Withdrawals are tax-free and create new contribution room next year (not the same year). Contributions are NOT tax-deductible (unlike RRSP). Over-contributions trigger a 1% per month tax on the excess.
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Alberta Closing Costs 2026: No Land Transfer Tax, Registration Fees, Legal Fees, and Calculator Example
Alberta has no land transfer tax — instead, two small Land Titles Office registration fees apply: a transfer-of-land fee and a mortgage registration fee. Total closing cost in Alberta is typically 1.5%–3% of the purchase price (vs 3%–5% in BC/Ontario), driven by legal fees ($800–1,500), title insurance ($150–400), adjustments, inspection ($400–700), appraisal if required, and 5% GST on new builds. The federal GST New Housing Rebate applies below $450,000.
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BC Closing Costs 2026: Property Transfer Tax, Legal Fees, and Calculator Example
BC closing costs in 2026 include Property Transfer Tax (1% on first $200,000; 2% on $200,001–$2,000,000; 3% above $2,000,000; further 2% on residential value over $3,000,000), legal/notary fees ($1,000–1,800 typical), title insurance ($150–400), adjustments for property tax/utilities, inspection ($400–700), appraisal if required, and 5% GST plus possible PST on new construction. BC first-time home buyer exemption: full PTT exemption on the first $500,000 of purchase price if FMV ≤ $835,000.
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Quebec Combined Income Tax (2026)
Quebec administers its own income tax separately from CRA, the only province in Canada to do so. Quebec residents file two tax returns each year: a federal return with CRA and a provincial return with Revenu Québec. To compensate Quebec for opting out of certain shared-cost federal programs, Ottawa applies the Quebec abatement: a 16.5 […]
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Alberta Combined Income Tax (2026)
Alberta residents in 2026 face the lowest provincial tax rates in Canada, with a combined federal + Alberta marginal rate that runs from 22% at the bottom to 48% on income above $370,220. The big change is recent: effective January 2025, Alberta introduced a new 8% bottom-bracket rate on the first ~$60,000 of taxable income, […]
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BC Combined Income Tax (2026)
BC residents in 2026 face combined federal + provincial marginal rates ranging from about 19.6% at the bottom to 53.5% on income above $265,019. BC has more brackets than any other Canadian province (seven), and the bottom rate was increased from 5.06% to 5.6% effective 2026 as part of the provincial budget. The BC government […]
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Ontario Combined Income Tax (2026)
An Ontario resident in 2026 pays both federal and Ontario provincial income tax. The combined marginal rate ranges from 20.05% on the first dollar of taxable income above the basic personal amounts to 53.53% on income above $258,482. Ontario adds two unique items on top of its base provincial rates: a surtax of 20% (and […]
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OAS Payment Amounts and Clawback Rules
Check July–September 2026 OAS maximums and the income year used for recovery tax.
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GIS Eligibility in Canada: 2026 Income Limits and How to Apply
Check the July–September 2026 GIS income limits, learn what income matters, and follow the steps to apply or report a drop in income.
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GST/HST Credit and CGEB Eligibility
The GST/HST credit is a tax-free quarterly payment for Canadians with low or modest incomes, designed to offset some of the GST/HST you pay on everyday purchases. For the July 2025 to June 2026 benefit year (based on your 2024 tax return), the maximum is approximately $760 per year for a single adult, with additional […]
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Canada Child Benefit Amounts: 2026–27 Rates and Payment Dates
See current CCB maximums, income thresholds and 2026 payment dates, with a plain-English example and CRA links.
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Rental Property ROI in Canada
Rental property ROI in Canada is measured with three common metrics: cap rate (net operating income ÷ property price), cash-on-cash return (annual pre-tax cash flow ÷ cash invested), and total ROI (which adds principal paydown and appreciation). Realistic Canadian cap rates in 2026 are roughly 3-5% in major urban markets and 5-7% in mid-sized cities […]
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HELOC Payments in Canada Explained
A Canadian Home Equity Line of Credit (HELOC) is a revolving line of credit secured by your home, with a variable interest rate typically set at prime + 0.5% to 1% (roughly 6.5-7% in 2026, given prime around 5.95%). Minimum monthly payments are usually interest-only, which makes monthly cash flow easy but means the principal […]
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Property Tax in Canada Explained
Canadian property tax is set by your municipality (city, town, township, or regional district) and calculated as your home’s assessed value multiplied by the municipal mill rate (also called tax rate or millage rate). Effective residential property tax rates vary widely — from under 0.3% of market value in Vancouver to over 2% in some […]
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Closing Costs in Canada Explained
Closing costs in Canada typically run 1.5% to 4% of the purchase price, paid in cash on or before the closing day. The largest single line is usually land transfer tax (LTT), followed by legal fees and disbursements. Closing costs are paid in addition to the down payment and cannot be financed into the mortgage, […]
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Canada Student Loan Repayment Guide
The Canada Student Loan (CSL) program has been permanently interest-free for federally funded student loans since April 1, 2023. Provincial student loans (Ontario OSAP, Alberta, BC, etc.) follow varying interest rules. After graduation, federal loans have a six-month non-payment grace period (interest still doesn’t accrue on the federal portion). The Repayment Assistance Plan (RAP) can […]
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Canadian Personal Loans: Bank vs Alt Lender
A personal loan is a fixed-rate, fixed-term unsecured loan, typically used for debt consolidation, home renovation, or large one-time expenses. In Canada in 2026, the rate range is wide: 7-12% from major banks for borrowers with good credit, 10-18% from credit unions for typical members, and 15-30%+ from alt lenders (Fairstone, easyfinancial, LoanConnect-listed). Choose the […]
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Canadian Auto Loans: Rates and Terms (2026)
Canadian auto loan rates in 2026 range from approximately 5% for borrowers with excellent credit on new vehicles to 9-12% for used vehicles and weaker credit profiles. Terms have lengthened dramatically: the average new-vehicle loan is now 72 months (six years), with 84- and 96-month terms increasingly common. Longer terms cut monthly payments but dramatically […]
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Dollar-Cost Averaging in Canada
Dollar-cost averaging (DCA) is the strategy of investing a fixed amount on a regular schedule (weekly, biweekly, monthly), regardless of market price. Over time you buy more shares when prices are low and fewer when prices are high, automatically. The average cost per share works out lower than the market average over the period. DCA […]
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What Is Dividend Yield? Canadian Investor’s Guide
Dividend yield is the annual dividend per share divided by the current share price, expressed as a percentage. It tells you what cash income the stock currently pays relative to its price. The S&P/TSX Composite average dividend yield is approximately 3.2% in 2026, with traditional dividend payers (Canadian banks, telecoms, utilities, REITs) yielding 4-7% and […]
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GICs in Canada Explained (2026)
A Guaranteed Investment Certificate (GIC) is a deposit at a Canadian bank or credit union that returns a fixed amount of interest after a set term. The principal is guaranteed; CDIC-insured GICs are protected up to $100,000 per eligible category per member institution if the bank fails. In 2026, 1-5 year GIC rates from major […]
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Reverse Mortgages in Canada Explained
A reverse mortgage in Canada lets homeowners aged 55+ borrow up to 55% of their home’s appraised value (in some cases up to 59% for older borrowers) without making monthly payments. Interest accrues and the loan is repaid when the home is sold, both spouses move out, or the last borrower dies. As of 2026, […]
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Are You On Track for Retirement in Canada?
The standard rule is that retirement income should replace about 70% of your pre-retirement income to maintain your lifestyle. Canadians have three layered sources to reach that target: Canada Pension Plan (CPP), Old Age Security (OAS), and personal savings (RRSP, TFSA, FHSA, workplace pensions). For a 65-year-old retiring in 2026, the combined maximum from CPP […]
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How Much Life Insurance Do You Need? (Canada)
A common Canadian rule of thumb is to carry life insurance equal to seven to ten times your annual income, but the right amount depends on your specific obligations: mortgage balance, dependent children, education costs, final expenses, and any debts a survivor would inherit. The DIME method (Debt + Income replacement + Mortgage + Education) […]
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What Is a Healthy Debt-to-Income Ratio in Canada?
A healthy household debt-to-income ratio in Canada is below 35% of gross monthly income spent on all debt payments. Lenders use two specific ratios: Gross Debt Service (GDS), which covers housing costs alone, with a 39% ceiling; and Total Debt Service (TDS), which adds all other debt, with a 44% ceiling. Above 50% TDS, financial […]
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Debt Consolidation Options in Canada
Debt consolidation in Canada means combining multiple debt balances into a single loan or line of credit at a lower interest rate. The four main tools are home equity line of credit (HELOC), personal loan, balance transfer credit card, and consumer proposal. Each has different rates, qualifications, and consequences. For homeowners with equity and good […]
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How to Pay Off Credit Card Debt Fast in Canada
The fastest way to pay off Canadian credit card debt is to keep paying the minimum on every card while throwing every extra dollar at the highest-rate balance (the avalanche method). At typical Canadian rates of 19.99-24.99%, every $1,000 of credit card debt paid off saves $200-$250 per year in interest — equivalent to a […]
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Compound Interest, Plainly Explained
Compound interest is interest earned on both the original principal and on the interest already earned. Each year’s interest joins the principal, so next year’s interest is calculated on a larger base. The formula is A = P(1 + r/n)^(n×t), where P is principal, r is annual rate, n is compounding periods per year, and […]
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How to Calculate Your Net Worth in Canada
Your net worth is the dollar value of everything you own (assets) minus everything you owe (liabilities). It is the single best summary measure of household financial position, more meaningful than income because it reflects accumulated savings and debt reduction. In Canada, the median household net worth was approximately $519,700 in 2023 (Statistics Canada), with […]
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How Big Should Your Emergency Fund Be?
A standard emergency fund is three to six months of essential expenses, held in a high-interest savings account or short-term GIC. For a Canadian household with $4,500 in monthly fixed costs, that means $13,500 to $27,000 in cash. The exact target depends on your job stability, household size, debt load, and access to other liquid […]
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Land Transfer Tax Across Canada
Land transfer tax (LTT) is a closing-day tax paid to your provincial — and in Toronto, municipal — government when you buy a home. Rates and rebates vary widely by province: Alberta and Saskatchewan have no LTT (only modest registration fees), while a Toronto home buyer faces combined provincial plus municipal rates of up to […]
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CMHC Mortgage Insurance Premiums in 2026
CMHC mortgage insurance is required for any mortgage with less than 20% down payment in Canada. The premium is a one-time charge added to your mortgage balance, ranging from 0.60% to 4.00% of the loan amount depending on your loan-to-value (LTV) ratio. A new 0.20% surcharge applies to 30-year amortizations for first-time buyers and newly […]
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The Mortgage Stress Test in 2026
The Canadian mortgage stress test requires lenders to qualify borrowers at a higher rate than the actual contract rate. As of 2026, the qualifying rate is the greater of the contract rate plus 2 percentage points, or the 5.25% floor. OSFI confirmed in January 2026 that the floor stays unchanged. With typical 5-year fixed rates […]
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Is the Canada Carbon Rebate Gone?
Yes — the Canada Carbon Rebate (CCR) for individuals ended in April 2025. The federal government stopped the consumer fuel charge effective April 1, 2025, and the CCR program for individuals concluded with the final quarterly payment on April 22, 2025. There are no further CCR quarterly payments scheduled for 2026 or any future period. […]
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Canada Workers Benefit (2025 Tax Year, Paid Through 2026)
The Canada Workers Benefit (CWB) is a refundable tax credit for low- to modest-income workers. For the 2025 tax year (claimed when you file your 2025 return in spring 2026 and paid in advance through 2026), the maximum basic amount is $1,633 for singles and $2,813 for families. An additional disability supplement of up to […]
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GST/HST Credit in 2026: The CGEB Transition Explained
Starting July 2026, the GST/HST credit is being replaced by the Canada Groceries and Essentials Benefit (CGEB). The eligibility rules, the income-tested calculation, and the quarterly payment structure stay the same. The benefit amounts go up: quarterly payments rise by 25% for five years, from July 2026 through June 2031. A one-time top-up was issued […]
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How Are Bonuses Taxed in Canada?
A bonus is taxed at the same rates as ordinary employment income in Canada. There is no separate “bonus tax rate.” What feels different is the withholding: employers use the CRA bonus method, which projects your annual income with the bonus included, calculates the incremental tax, and withholds that amount. On large bonuses this often […]
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Why Is My Paycheque Smaller Than Expected?
A Canadian paycheque looks smaller than your stated salary because four deductions come off before you see the money: federal income tax, provincial income tax, Canada Pension Plan (CPP), and Employment Insurance (EI). On a $75,000 Ontario salary, gross pay of about $2,884 biweekly becomes roughly $2,200 net — about 23% goes to withholdings. Quick […]
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CPP Contribution Rates 2026: YMPE, YAMPE, CPP1, CPP2, and Maximum Contributions
2026 CPP: YMPE $74,600, YAMPE $85,000, basic exemption $3,500. Employee CPP1 rate 5.95% on earnings between $3,500 and $74,600 (max $4,230.45). Employee CPP2 rate 4.00% on earnings between $74,600 and $85,000 (max $416.00). Combined employee max $4,646.45. Employer matches dollar-for-dollar. Self-employed pay both halves, max $9,292.90.
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What Income Counts Toward OAS Clawback in Canada?
The OAS clawback is calculated against net world income on line 23400. Employment, self-employment, pension, RRIF/RRSP withdrawals, interest, grossed-up dividends, the taxable half of capital gains, rental, and OAS itself all count. TFSA withdrawals, GIS, and fully-exempt principal residence sales do not. Includes a per-income-type table, line numbers, and worked examples.
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Mortgage Affordability Canada 2026: Income, Debt Ratios, Stress Test, and Calculator Example
Quick answer: Most Canadian buyers qualify for a mortgage of roughly 4-5× gross household income, capped by two CMHC/lender ratios computed at the OSFI stress-tested qualifying rate: GDS ≤ 39% (housing costs to income) and TDS ≤ 44% (all debt to income). The qualifying rate is the greater of your contract rate + 2 percentage […]
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Canadian Small Business Tax Rates 2026
Quick answer: A CCPC pays 9% federal corporate tax on the first $500,000 of active business income (the small business deduction). Provincial rates stack on top, ranging from 0% (Manitoba, Yukon) to 3.2% (Ontario, Quebec) in 2026. Combined rates run from 9% to 12.2%. What this means: Above the $500K federal business limit, the combined […]
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Donating Stocks to Charity in Canada
Quick answer: Donating publicly-traded securities in-kind to a registered Canadian charity eliminates the capital-gains tax on those securities AND gives you the donation credit on the full fair market value. It’s the most tax-efficient way to make a large gift. What this means: If you have $10,000 of stock with a $4,000 gain, donating in-kind […]
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Can Spouses Combine Charitable Donations in Canada?
Quick answer: Yes. CRA lets either spouse claim all of a couple’s donations on their own return, regardless of who actually paid. Pooling on one return is almost always better than splitting because the 15% first-$200 federal rate hits only once. What this means: On a $1,000 combined donation in Ontario, pooling saves about $30 […]
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Why the First $200 of Donations Is Taxed Differently
Quick answer: The first $200 of total annual donations gets only the 15% federal tax credit. Every dollar after $200 jumps to 29% federal (33% at the top bracket). That’s a 14-point cliff at exactly $200. What this means: If you donate $150 a year for three years, you pay the 15% first-$200 penalty three […]
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CPP at 65 vs 70 in Canada
Delaying CPP from 65 to 70 raises the lifetime monthly amount by 42%. Statistics Canada life expectancy at 65 is roughly 20+ years, which makes delaying mathematically attractive for most healthy 65-year-olds — but only if you have other income to bridge the gap. Quick answer: Delay CPP to 70 if you’re healthy with savings […]
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CPP at 60 vs 65 in Canada
The CPP retirement pension at age 60 is exactly 36% lower than the age-65 amount, for life. This page covers the breakeven math, when starting at 60 actually wins, and the practical situations where it’s the right move. Quick answer: Take CPP at 60 if you’ve stopped working without other income, expect a life expectancy […]
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EI Overpayment with Multiple Employers
If you worked for more than one employer in the same year, you may have paid more EI premiums than the federal maximum allows. Each employer withholds EI separately up to the maximum insurable earnings — they don’t coordinate. CRA reconciles this on your tax return. Quick answer: Yes, you can pay too much EI […]
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Quebec QPP, EI, and QPIP Rates 2026: Employee Payroll Deductions Explained
Quick answer: A 2026 Quebec employee paycheque carries four mandatory deductions beyond income tax: QPP1 at 6.30% (on pensionable earnings between $3,500 and $74,600; max $4,479.30), QPP2 at 4.00% (on the $74,600-$85,000 band; max $416), federal EI at 1.30% (on insurable earnings up to $68,900; max $895.70 — lower than the 1.63% rest-of-Canada rate because […]
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RRIF Minimum Withdrawal Rates 2026: Table, Age Rules, and Timing
The 2026 RRIF minimum withdrawal is the fair market value at January 1 multiplied by the federally prescribed factor for your age. From 65 to 70 the factor is 1/(90-age); from 71 onward it is set by Income Tax Regulation 7308 — 5.28% at 71, 5.82% at 75, 6.82% at 80, and 20.00% at 95+. No mandatory withdrawal in the calendar year you open the RRIF. The minimum is paid without withholding tax.
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Capital Gains When Someone Dies in Canada: 2026 Estate Tax Guide
What an executor needs to know about capital gains tax on death in 2026: deemed disposition, the inclusion rate that applies, principal residence exemption, adjusted cost base for heirs, and the split between final return and estate (T3) return. Every figure is cited to the Canada Revenue Agency.
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Late Filing Penalty and Interest: The Real Cost of Not Filing on Time
The CRA late-filing penalty is 5 percent of the balance owing plus 1 percent per month up to 12 months. If you were late in any of the prior 3 years, the penalty doubles to 10 percent + 2 percent per month for up to 20 months (max 50 percent). Interest at 9 percent (Q2 2026) is added daily on top. Filing on time even when you cannot pay avoids the penalty entirely.
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CRA Collections and Garnishment: What the Notice Means and What to Do
Understand CRA legal warnings, garnishment, payment arrangements, and the next call to make.
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CRA Tax Instalments in 2026: Who Pays, Dates, and Payment Steps
Check the CRA's 2026 instalment test, due dates, calculation choices, and payment steps.
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CRA Payment Arrangement: What to Do If You Cannot Pay in Full
See how to work out a payment you can manage, schedule payments online or by phone, and ask CRA to change an arrangement before you miss one.
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How to Pay CRA: Choose a Method and Confirm Your Payment
Find the CRA payment method that fits your personal tax balance, select the correct banking payee, and check that the payment reached your account.
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DTC Transfer to a Spouse, Parent, or Supporting Family Member
The DTC is a non-refundable tax credit that only reduces tax owing. If the disabled person has too little income to use it, the unused portion can transfer to a supporting spouse (Schedule 2) or other family member (Schedule 5). The disabled person must file first; only the leftover amount transfers.
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Child Disability Benefit and Canada Disability Benefit: How They Differ
Two federal programs share the CDB acronym. The Child Disability Benefit pays up to $3,411/yr ($284.25/month) for DTC-eligible children under 18, added to CCB. The Canada Disability Benefit, started July 2025, pays up to $2,400/yr ($200/month) for DTC-eligible adults 18-64. Both require DTC approval and are tax-free.
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RDSP Rules: Grants, Bonds, and Withdrawal Penalties
The RDSP is a tax-deferred plan for Canadians who qualify for the DTC. The federal government adds Canada Disability Savings Grants (up to $3,500/yr, $70,000 lifetime) and Bonds (up to $1,000/yr, $20,000 lifetime). The 10-year holdback rule limits early withdrawal. RDSPs are one of the most generous federal savings programs.
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Disability Tax Credit for Past Years: How to Request a CRA Adjustment
Approved for the DTC in earlier years? Check your eligible years and how to request return adjustments without assuming a refund.
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Who Qualifies for the Disability Tax Credit (DTC) in Canada?
The Disability Tax Credit (DTC) is a non-refundable federal tax credit for Canadians with a severe and prolonged impairment, providing up to $1,448 of federal tax reduction in 2026 (plus provincial). Eligibility falls under four categories: marked restriction in one daily living activity, significant restriction in two or more, life-sustaining therapy, or severe vision impairment. CRA approves based on Form T2201.
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Canadian Retirement Income Decision Guide: CPP, OAS, RRSP, and RRIF
Six decisions define how much retirement income a Canadian receives for life: when to start CPP, when to start OAS, how to drain the RRSP, whether to keep contributing to CPP after 65, how to manage OAS clawback, and estate planning of registered and capital property. This guide is the decision engine that connects the dots.
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CRA Penalties and Interest Relief: Form RC4288, Deadlines, and Examples
Taxpayer relief lets the CRA cancel interest and penalties when extraordinary circumstances, CRA actions or delays, or financial hardship made compliance impossible. Relief is requested using Form RC4288 and is limited to amounts that became due in the previous 10 calendar years. Relief does not change the original tax owing.
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CRA Audit or Tax Return Review? What to Expect and How to Respond
Find out whether your CRA letter is a review or audit, what records to provide, and what happens next.
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Voluntary Disclosures Program: Fix Past Tax Mistakes Without Penalty
The Voluntary Disclosures Program lets a taxpayer correct past tax mistakes in exchange for relief from penalties, possible interest relief, and protection from prosecution. Eligibility requires the disclosure be voluntary, complete, involve a penalty, include information at least one year past due, and include payment. The General Program (unprompted) gives 100 percent penalty relief and 75 percent interest relief.
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CRA Notice of Objection: Deadlines, Filing Steps and What Happens Next
Find the income-tax objection deadline that applies to you, how to file with CRA, what to include, and what happens after filing.
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CRA Notice of Reassessment: What Changed and What to Do
See what changed on your CRA notice of reassessment, check your current balance, and find the right next step if you think there is an error.
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Variable vs Fixed Mortgage in Canada (2026 Decision Guide)
Choosing variable or fixed in 2026 depends on rate outlook, spread, cash flow tolerance, and break-cost risk. Variable rate mortgages have a smaller 3-month-interest break penalty than the IRD penalty on fixed. Static-payment variables risk hitting a trigger rate. This guide compares both with a worked example.
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30-Year Amortization in Canada: Who Qualifies After 2024
30-year amortization is available on insured mortgages for first-time buyers on any property type since December 15, 2024, and for any buyer of a newly constructed home since August 1, 2024. A 0.20 percent insurance premium surcharge applies. The longer term lowers monthly payments but adds substantial total interest if the mortgage is held to maturity.