Summer 2026 Newsletter 102A
2026 Financial Calendar
Welcome to our 2026 financial calendar!
This calendar is designed to help you keep track of important financial dates and deadlines, such as tax filing and government benefit distribution. You can bookmark this page for easy reference or add these dates to your personal calendar so you don’t miss any important financial obligations.
If you need help with your taxes, 2025 income tax packages will be available starting January 20, 2026. Don’t wait until the last minute to get started on your tax return – make an appointment with your accountant so you’re ready when tax season arrives.
Important Dates to Know
On January 1, 2026, the contribution room for your Tax-Free Savings Account (TFSA) opens again. The TFSA dollar limit for 2026 is $7,000.
For those who are eligible, the contribution room for your:
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Registered Retirement Savings Plan (RRSP)
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First Home Savings Account (FHSA)
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Registered Education Savings Plan (RESP)
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Registered Disability Savings Plan (RDSP)
will also be available for the 2026 calendar year.
RRSP Deadline (for the 2025 Tax Year)
For your Registered Retirement Savings Plan (RRSP) contributions to be eligible for the 2025 income tax year, you must make them by:
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March 2, 2026
Contributions made after this date will generally count toward your 2026 tax return.
GST/HST Credit Payment Dates
GST/HST credit payments will be issued on:
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January 5
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April 2
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July 3
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October 5
Canada Child Benefit (CCB) Payment Dates
Canada Child Benefit payments will be issued on:
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January 20
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February 20
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March 20
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April 20
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May 20
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June 19
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July 20
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August 20
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September 18
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October 20
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November 20
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December 11
Canada Pension Plan (CPP) and Old Age Security (OAS)
The government will issue Canada Pension Plan (CPP) and Old Age Security (OAS) payments on the following dates:
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January 28
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February 25
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March 27
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April 28
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May 27
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June 26
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July 29
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August 27
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September 25
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October 28
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November 26
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December 22
Bank of Canada Interest Rate Announcements
The Bank of Canada will make interest rate announcements on:
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January 28
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March 18
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April 29
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June 10
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July 15
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September 2
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October 28
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December 9
Personal Income Tax Deadlines
For most individuals, April 30, 2026 is the last day to:
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File your 2025 personal income tax return, and
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Pay any balance owing on your 2025 taxes.
This is also generally the filing deadline for final returns if death occurred between January 1 and October 31, 2025.
If death occurred between November 1 and December 31, 2025, the filing deadline for the final return is six months after the date of death (which will fall between May 1 and June 30, 2026).
Self-Employment Tax Deadlines
If you or your spouse/common-law partner are self-employed:
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The filing deadline for your 2025 tax return is June 15, 2026.
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Any tax payments owing are still due by April 30, 2026.
Filing later than these dates may result in interest and penalties.
Year-End Contribution Deadlines
The final contribution deadline for the 2026 calendar year for the following accounts is December 31, 2026:
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Tax-Free Savings Account (TFSA)
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First Home Savings Account (FHSA)
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Registered Education Savings Plan (RESP)
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Registered Disability Savings Plan (RDSP)
December 31, 2026 is also the deadline for:
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Making 2026 charitable donations that you want to claim on your 2026 tax return.
Individuals who turn 71 in 2026 to:
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Make their last contributions to their own RRSPs, and
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Convert their RRSPs to RRIFs (or an annuity).
Please reach out if you have any questions or would like help planning around any of these dates.
Sources:
Canada Revenue Agency. Tax-Free Savings Account (TFSA), Guide for Individuals. RC4466 (E), Canada.ca, https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4466/tax-free-savings-account-tfsa-guide-individuals.html.
Canada Revenue Agency. “Registered Retirement Savings Plan (RRSP).” Canada.ca, https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/registered-retirement-savings-plan-rrsp.html.
Canada Revenue Agency. “Registered Education Savings Plans (RESPs).” Canada.ca, https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/registered-education-savings-plans-resps.html.
Canada Revenue Agency. “First Home Savings Account (FHSA).” Canada.ca, https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/first-home-savings-account.html.
Canada Revenue Agency. “GST/HST Credit – Payment Dates.” Canada.ca, https://www.canada.ca/en/revenue-agency/services/child-family-benefits/gst-hst-credit/payment-dates.html#toc1.
Canada Revenue Agency. “Benefit Payment Dates.” Canada.ca, https://www.canada.ca/en/revenue-agency/services/child-family-benefits/benefit-payment-dates.html.
Canada. “Benefit Payment Dates Calendar.” Canada.ca, https://www.canada.ca/en/services/benefits/calendar.html.
Bank of Canada. “Bank of Canada Publishes 2026 Schedule for Policy Interest Rate Announcements and Other Major Publications.” Bank of Canada, https://www.bankofcanada.ca/2025/08/bank-canada-publishes-2026-schedule-policy-interest-rate-announcements-other-major-publications/.
Canada Revenue Agency. “Important Dates – Individuals.” Canada.ca, https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/important-dates-individuals.html.
Canada Revenue Agency. “Important Dates for RRSPs, RRIFs, and RDSPs.” Canada.ca, https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/important-dates-rrsp-rrif-rdsp.html.
Retirement Planning for Business Owners – Checklist
As a business owner, one of your challenges is learning how to balance between reinvesting into the business and setting money aside for personal savings. Since there are no longer employer-sponsored pension plans and the knowledge that retirement will come eventually, it’s important to have a retirement plan in place.
We’ve put together an infographic checklist that can help you get started on this. We know this can be a difficult conversation so we’re here to help and provide guidance to help you achieve your retirement dreams.
Income Needs
- Determine how much income you will need in retirement.
- Make sure you account for inflation in your calculations.
Debts
- You should try to pay off your debts as soon as you can; preferably before you retire.
Insurance
- As you age, your insurance needs change. Review your insurance needs, in particular your medical and dental insurance because a lot of plans do not provide health plans to retirees.
- Review your life insurance coverage because you may not necessarily need as much life insurance as when you had dependents and a mortgage, but you may still need to review your estate and final expense needs.
- Prepare for the unexpected such as a critical illness or a need for long-term care.
Government Benefits
- Check what benefits are available for you upon retirement.
- Canada Pension Plan- decide when would be the ideal time to apply and receive CPP payments. Business owners are in a unique position to control how much can be contributed to CPP by deciding to pay salary or dividends. (Dividends don’t trigger CPP contributions.)
- Old Age Security- check pension amounts and see if there’s a possibility of clawback.
- Guaranteed Income Supplement- if your income is low enough, you could apply for GIS.
Income
- Are you a candidate for an individual pension plan (IPP)? IPPs can provide higher contributions than typically permitted to an RRSP and the ability to create a lifelong pension.
- Check if your business is a candidate for a group RRSP or company pension plan. This is a great way for you to build retirement savings and provide benefits for your employees and business too.
- Make sure you are saving on a regular basis towards retirement- in an RRSP, TFSA, or non-registered account. As you can control how you get paid, you should make sure you have the optimal mix of salary and dividends to achieve your financial goals. Dividends are not considered eligible income to create RRSP room.
- Ensure your investment mix makes sense for your situation.
- Don’t forget to check if there are any other income sources. (e.g. rental income, side hustle income, etc.)
Assets
- The sale of your business can be part of your retirement nest egg. Therefore, you should make sure you know the valuation of your business and your plan to sell the business to your family, employees, partners or a third party. You should also know when you decide to sell your business.
- Are you planning to use the sale of your home or other assets to fund your retirement?
- Will you be receiving an inheritance?
One other consideration that’s not included in the checklist is divorce. This can be an uncomfortable question; however, divorce amongst adults ages 50 and over is on the rise and this can be financially devastating for both parties.
Next steps…
- Contact us about helping you get your retirement planning in order so your retirement dreams can be achieved.
Retirement Planning for Business Owners
Retirement planning can be a complex process for us all, but if you are the owner of a small business it may can get even more complicated, due to the various factors and circumstances that you have to take into consideration. A common mistake made by small business owners is reinvesting extra money to grow their business, at the expense of putting it aside to save for their retirement.
Although there is no magic formula for getting started on a retirement strategy for your business, there are some general principles which might help you to get a handle on the steps that you need to take. One of the key ideas is the consideration of both your business and your personal finances and how to structure and integrate the two in order to create a robust retirement financial strategy.
Here are some tips on how to get started on a retirement plan.
- Set aside time to plan for the future – It’s important to make retirement planning a priority, or you run the risk of never getting around to it. A professional financial planner can help you to assess your personal circumstances and create a personalized plan that suits you and your business, with the right balance between saving and reinvestment to help your business to grow.
- Think about your future retirement income – Here are the main sources of retirement income that small business owners usually rely on:
- Equity held in your business – If your business is successful, you are likely to benefit from equity from it in your retirement. Selling your company is an option, particularly attractive to some as, in some cases, you could benefit from the lifetime capital gains exemption on the sale. Of course, finding the right person to run your business in the future is easier said than done. A clear succession plan, created in advance of your retirement, can help you to ensure that business continuity will be affected as little as possible and will give you peace of mind as you approach your retirement. You may also want to consider using the expertise of an accountant or mergers and acquisitions specialist to help you to value your business correctly and also look after your interests when liaising with potential purchasers.
- Alternatively, you may choose for your children to inherit your business, or you may decide to retain ownership of dividend-paying preferred shares in order to maintain an ongoing source of income.
- Registered plans – A Registered Retirement Savings Plan (RRSP) can offer personal tax deductions on your contributions, plus your savings will grow as tax-deferred whilst in the plan. In addition, tax-free savings accounts (TFSAs) can be a useful way to save tax-free in particular circumstances.
- Consider offering a retirement savings plan to your employees – Paying your statutory contribution of the Canada Pension Plan is just the minimum – many small businesses choose to offer their employees enhanced pension contributions as an incentive or employee benefit. For example, you could match their RRSP contributions to a set limit, to help their retirement nest grow more quickly. Alternatively, you could offer a benefit plan with an investment contribution package from an insurance company, which can be a more straightforward and cost-effective choice.
- Be sure to diversify – As a small business owner, you should avoid putting all of your eggs in one basket, financially speaking, as this could leave you vulnerable to changes in the market. Try to diversify your investments and spread your funds in order to protect yourself and engage the help of a professional where necessary to help you to do so.
In summary, it’s important to remember that retirement planning is a process which is unique and personal to your own and your business’ circumstances and there is no uniform approach which works across the board. Take time to take stock of your current situation, as well as your goals for the future and this will help you to create a retirement plan that is right for your needs, both current and future.