# Year-end tax planning in Canada: the 2026 checklist

> What to do before December 31, 2026: RRSP, TFSA, FHSA, donations, medical costs, instalments and selling losses, with the dates that matter.

Most of what lowers a 2026 tax bill in Canada has to happen by December 31, 2026. The RRSP is the main exception: a contribution made by March 1, 2027 still counts for 2026. Below are the dates, the limits ($33,810 for the RRSP, $7,000 for the TFSA and $8,000 for the FHSA) and the usual moves, so you can see what applies to you while there is still time.

## Which dates matter before the year ends?

| Date | What it is for |
| --- | --- |
| Tuesday, December 15, 2026 | Fourth tax instalment, if you pay by instalments |
| Wednesday, December 30, 2026 | A sensible last day to sell investments at a loss for 2026, because trades usually settle one business day later. Ask your broker |
| Thursday, December 31, 2026 | Last day for donations, TFSA and FHSA contributions to count for 2026, and for most other claims |
| Monday, March 1, 2027 | Last day for an RRSP contribution to count for 2026 |
| Friday, April 30, 2027 | Filing deadline for most people, and the date any balance is due |

## What can you do with your RRSP, TFSA and FHSA?

- An RRSP contribution lowers your 2026 tax if you make it by March 1, 2027. Check your room on your last notice of assessment or in your CRA account. The dollar limit for 2026 is $33,810, and your own limit is usually lower. The CRA's [RRSPs and related plans page](https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans.html) has the rules. Try the [RRSP calculator](https://tax-services.ca/calculators/rrsp-retirement/rrsp-calculator), or the [TFSA vs RRSP calculator](https://tax-services.ca/calculators/rrsp-retirement/tfsa-vs-rrsp) if you can only fund one.
- A TFSA does not lower your tax. The 2026 limit is $7,000, and new room arrives on January 1. The CRA's [Tax-free Savings Account page](https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/tax-free-savings-account.html) explains how the room works. See the [TFSA calculator](https://tax-services.ca/calculators/rrsp-retirement/tfsa-calculator).
- An FHSA contribution is deductible, and unlike the RRSP it has no 60 day grace period, so it has to be made by December 31 to count for 2026. The yearly limit is $8,000. Our page on [FHSA or RRSP](https://tax-services.ca/fhsa-vs-rrsp-canada) compares the two.

## What about donations, medical costs and childcare?

- Donations count for 2026 only if you give by December 31. Keep the official receipt. The [donation tax credit article](https://tax-services.ca/articles/canada-donation-tax-credit) shows how the credit is worked out.
- For medical expenses you can pick any 12 month period that ends in 2026, so look at which period holds the most receipts. The [tax credits calculator](https://tax-services.ca/calculators/income-tax/tax-credits) shows how credits work.
- Childcare, tuition and moving costs are claimed for the year you paid them, so gather those receipts now while they are easy to find.

## Does selling at a loss help?

Selling at a loss can help in Canada, because a capital loss can cancel capital gains from the same year, or from the three years before, or be carried forward. To count for 2026 the sale has to settle in 2026. Be careful about buying back the same investment too soon, because the superficial loss rule can deny the loss. The [capital gains tax calculator](https://tax-services.ca/calculators/income-tax/capital-gains-tax) shows the effect of a gain.

## What should you check on your paycheque?

On your paycheque, check your TD1 first. If you changed jobs, got married or had a child, update it so your employer holds back the right amount. If you owed a lot last spring, see whether instalments make sense. The [instalments calculator](https://tax-services.ca/calculators/income-tax/tax-installments) helps. A look at [take-home pay by province](https://tax-services.ca/take-home-pay-by-province) shows what a raise would add after tax.

## What is coming after the year ends?

Most slips arrive by the end of February. The [2027 calendar](https://tax-services.ca/tax-calendar-2027) has every date, and you can download them from [My tax year](https://tax-services.ca/my-tax-year).

## Where does this information come from?

The dates follow [Canada Revenue Agency](https://www.canada.ca/en/revenue-agency.html) guidance and the 2027 deadlines page for the self-employed. The trade settlement point depends on your broker and the exchange, so confirm it with them. This page is general information, not advice. Checked in October 2026. This is an independent information site: we provide no services, we do not represent the CRA or any organization, and we do not guarantee that anything here is accurate or current. We accept no liability for decisions based on it. Check the official source before you rely on it. See the [full disclaimer](https://tax-services.ca/disclaimer).

---
Source: https://tax-services.ca/year-end-tax-planning-canada
Last updated: 2026-10-09
Independent information site. Not affiliated with the CRA. No services, no guarantee of accuracy. See https://tax-services.ca/disclaimer