Dec. 24, 2025 "Four dates for investors to mark on their 2026 tax calendars": Today I found this article by Dale Jackson on BNN Bloomberg:
You can’t avoid taxes but investors can keep more tax dollars compounding in investments with a good tax strategy for 2026.
The right strategy,
implemented over a lifetime of investing,
can boost retirement savings by hundreds-of-thousands of dollars.
Navigating the tax rules can get complicated depending on your individual circumstance,
so it might be best to discuss them with a
qualified advisor
or tax professional.
Regardless, here are four significant tax dates to mark in your investment calendar.
Dec. 30, 2025: Tax-loss selling deadline
If you want to use 2025 stock market losses to recoup taxes paid on stock market gains going back three years or any year in the future,
you must sell by Dec. 30 for the trade to settle before the calendar rolls over to the 2026 tax year on Jan. 1.
The deadline to sell U.S. equities this year is Dec. 31.
Because half of capital gains on equities sold in a non-registered trading account are taxed,
half of capital losses can eliminate the taxes on capital gains dollar-for-dollar.
As with any tax strategy, the Canada Revenue Agency (CRA) has strict rules when it comes to tax-loss selling.
The most important is called the superficial loss rule,
which prohibits the repurchase of the same stock within thirty days of the tax loss sale.
The superficial loss rule applies to repurchases in any registered or non registered account in the name of the account holder,
and even the account holder’s spouse.
If you want to repurchase the same stock you must wait at least 31 days after the sale.
Jan. 1, 2026: Tax Free Savings Account contribution limit extension
Canadians who have contributed the maximum amount to their TFSAs
will be permitted to contribute another $7,000 in the new year.
If you withdrew money from your TFSA in 2025,
that contribution space can also be reclaimed in 2026.
There is no contribution deadline for a TFSA.
Allowable contribution space can be carried forward to future years
for the vast majority of TFSA holders who don’t contribute the maximum amount.
Over-contributions can result in penalties from the Canada Revenue Agency (CRA), so it’s important to keep track.
The TFSA is an ideal investment vehicle because
those contributions can be invested in just about anything,
gains are never taxed,
and you can withdraw funds at any time.
March 2, 2026: Registered Retirement Savings Plan contribution deadline
Registered Retirement Savings Plan (RRSP) contributions
can also be invested
and grow tax-free
in just about anything,
but if you want to deduct them from your 2025 taxable income you must contribute by Monday, March 2.
Tax savings are based on your personal marginal tax rate,
so the more income you generated in 2025,
the bigger the savings.
Canadians love to get those RRSP refunds in the spring but it’s important to know
RRSPs are fully taxed when they are withdrawn;
ideally at a low tax rate in retirement.
If your income was low in 2025 a TFSA contribution could be a better option.
If you want to contribute to both your TFSA and RRSP,
consider contributing to your RRSP before the deadline
and putting the refund in your TFSA.
April 30, 2026: Income tax deadline
If you had any income in 2025, the deadline to file your tax return is April 30. How much anyone pays is based on their personal situation but there are ways to steer tax dollars into your investment portfolio.
If you make an RRSP contribution before the March 2 deadline and want the refund by spring,
don’t forget to deduct it from your taxable income when you file.
Also, don’t forget to include any other deductions or credits you or your spouse have accumulated throughout the year.
TFSA contributions are not tax deductible.
Be sure to include all investment income received during the year including
capital,
dividend
or income gains
from non-registered (not RRSP or TFSA) investment accounts.
This is also the time to use those capital losses you banked up before the end of 2025
against capital gains that year,
the two previous years,
or save them for future years.
The payment deadline for any balance owing is also April 30 but self-employed individuals have until June 15 to file.
Dec. 24, 2025 "Make financial success a 2026 goal with this money checklist": Today I found this article by Ritika Dubey on BNN Bloomberg:
It’s that time of the year again.
While you’re caught up in last-minute runs to the store and mapping out the family dinner menu for the holidays, an annual financial review is unlikely to cross your mind.
The timing of financial reviews often competes with holiday fun as the end of the year nears when it’s harder to set aside a few hours and go through money matters.
Experts say you don’t have to rush the analysis during the peak holiday season.
Instead, you can split the task into smaller chunks
and prioritize based on deadlines.
First, think about the major changes in your life this year, said Brian Quinlan, a chartered professional accountant with Allay LLP.
“What has happened to your life in terms of marriage, babies, finishing school — and what’s happened with your finances?” Quinlan said.
The Canada Revenue Agency runs the personal tax year in line with the calendar year.
That means the deadline to
reduce your tax bill
and contribute to most registered accounts is Dec. 31,
though a notable exception is the RRSP contribution deadline, which is typically the beginning of March in the following year.
“What do you need by year end to
make sure you’ve got the best tax break
or take advantage of tax incentives that you can?”
Quinlan said.
“You would hate to find out something in early January (that) you’ve missed something.”
Medical bills,
charitable donations,
childcare expenses
or settling investment management fees
are examples that can save you a few dollars during the tax season come April if the payments have a 2025 date stamp.
The higher the cumulative donations in a given calendar year,
the more you benefit during tax season,
for instance.
Another popular tax strategy that is timed to the end of the calendar year is
tax-loss selling,
which is when money-losing investments in non-registered accounts can be sold
to realize a loss
which can then be used to offset capital gains,
thus reducing the investor’s taxes owing.
The deadline to contribute to your first home savings account,
which allows contributions of $8,000 a year, is also aligned with the calendar year — and allows tax deductions,
said Shannon Lee Simmons, a certified financial planner and founder of the New School of Finance. The contribution room, however, carries over to next year.
“Anything that has a hard deadline, you should be talking to whoever the professional is in your life (before Dec. 31),” Simmons said.
“Everything else can probably wait until the new year.”
But it’s all right if you can’t make time before the year ends, said certified financial planner Jessica Moorhouse.
“Don’t sweat the small stuff if there are a few tax credits that you could have got and you didn’t,” she said. “Let’s try again for next year.”
Once the holiday madness is over and the new year is rung in,
you can take the time to review your finances — including your
budget,
goals
and net worth.
“Once you’ve done all the transactions that need to happen,
then we’re going into future-forward mode,”
Simmons said.
She suggested thinking about what your income for the year is likely to look like.
For example, do you expect your income to be stable or is there uncertainty?
“If you feel like your economic future this year is looking a little uncertain
or you’re nervous about income,
then I would beef up the emergency accounts,”
Simmons suggested.
If there’s any money left over after your basic bills and living costs are covered,
then think of your broader priorities.
If you have consumer debt, prioritize paying it off.
Or start funding an emergency account if you don’t have one,
she said.
If you already have a
decent emergency fund
and no debt,
that money can then go into other long-term plans,
such as retirement,
paying off a mortgage
or saving up a down payment,
Simmons said.
“But it’s the third priority,” she said.
“We want to make sure that we have no consumer debt
and that our emergency stuff is intact
before we move on to those more exciting financial goals.”
Then, set micro-timelines to track progress toward your goals
and stay realistic.
Often, people set unreasonable expectations,
such as never going out for lunch
or planning to contribute an exorbitant amount to their tax-free savings account every month.
“They inevitably fail because life is expensive
and then they give up on the whole plan,”
she said.
“If we were realistic and made a plan that is sustainable from the get-go,
then the likelihood of failing is much less and sticking to it is way better,” Simmons said.
This report by The Canadian Press was first published Dec. 23, 2025.
Ritika Dubey, The Canadian Press
Dec. 27, 2025 My opinion: Today I set half an hour to add up:
-how much money I made this year
-how much I spent this year
I write down how much money I made whenever I get paid.
I write down how much money I spent when I spent it.
I calculate each month. I'm cognizant of my money.
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