Sources
Every rate, bracket, threshold, premium and factor the tools use, with its value, where it comes from and the date it took effect. 793 entries; 791 of them have been checked against their source, and any that has not says so. Each row says when it was last checked and how often it is checked again. Where the official page could only be checked through other published sources, the row says that too. This is the whole list: the tools cannot use a number that is not on it.
Learn explains what the tools do with these; this page is the evidence underneath it.
793 rules in 8 groups. Open a group to see its rules.
Income tax and payroll
214 rules
Brackets, personal amounts, the Ontario surtax and health premium, CPP, CPP2 and EI.
| What it is | Value | Source | Effective | Last checked |
|---|---|---|---|---|
| Alberta age amount (65 or older at year end), less 15% of net income over the threshold | See the source | CRA TD1AB 2026, line 2: "your net income … will be $47,234 or less, enter $6,345 … a partial amount if your net income … will be between $47,234 and $89,534" (6,345 / 42,300 = 15%) | 2026-01-01 | 2026-10-03checked again each January |
| Alberta additional tax for minimum tax: this share of the federal additional tax | 35% | Alberta Personal Income Tax Act s.48(1): "35% of the amount that would be determined under subsection 120.2(3) of the federal Act" | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Alberta basic personal amount | $22,769 | CRA TD1AB 2026, line 1: basic personal amount 22,769 | 2026-01-01 | 2026-10-03checked again each January |
| Alberta personal income tax brackets and rates | See the source | alberta.ca — Personal income tax, Table 1, 2026 tax brackets: 8% up to $61,200; 10% to $154,259; 12% to $185,111; 13% to $246,813; 14% to $370,220; 15% and up | 2026-01-01 | 2026-10-03checked again each January |
| The Alberta escalator: dollar amounts grow each year by the lesser of this and Alberta CPI | 2% | Alberta Personal Income Tax Act s.44.2(0.1): "the lesser of (i) 2%, and (ii)" the change in the Consumer Price Index for Alberta; never negative (s.44.2(0.3)) | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| AB428 carries base CPP contributions and EI premiums as credits at the lowest Alberta rate | No figure | Alberta Personal Income Tax Act s.19 (EI and CPP contributions credit) | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Alberta pension income amount | $1,753 | CRA TD1AB 2026, line 3: "enter whichever is less: $1,753 or your estimated annual pension" | 2026-01-01 | 2026-10-03checked again each January |
| Alberta spouse or eligible dependant amount: the basic personal amount less the dependant's net income | No figure | CRA TD1AB 2026, lines 5–6: "Enter the difference between the amount on line 1 and your spouse's or common-law partner's estimated net income" | 2026-01-01 | 2026-10-03checked again each January |
| Alberta supplemental tax credit: a share of the personal credits over a threshold, taken last | See the source | Alberta Personal Income Tax Act s.20.2: "(A − $4800) x 0.25 where A [is] the total of all amounts deducted under sections 8 to 10, 12 to 13.1, 18, 19 and 20.1"; s.44.2(1) indexes the $4,800 ($4,896 for 2026 at the 2% escalator) | 2026-01-01 | 2026-10-03checked again each January |
| British Columbia age amount (65 or older at year end), less 15% of income over the threshold | See the source | gov.bc.ca — Age $5,927, "Credit reduced when income exceeds: $44,119 (2026)"; Income Tax Act (BC) s.4.31: "B is 15% of the amount … by which the individual's income for the year would exceed" | 2026-01-01 | 2026-10-03checked again each January |
| British Columbia additional tax for minimum tax: this share of the federal additional tax (BC lowest rate over the federal lowest rate) | 40% | gov.bc.ca — "The B.C. minimum tax is 40% of your federal alternative minimum tax for 2026"; Income Tax Act (BC) s.4.8 (A × B / C, the ratio to the nearest thousandth: 5.60 / 14 = 0.400) | 2026-01-01 | 2026-10-03checked again each January |
| British Columbia basic personal amount | $13,216 | gov.bc.ca — 2026 B.C. basic tax credits: "Basic personal amount $13,216" | 2026-01-01 | 2026-10-03checked again each January |
| British Columbia personal income tax brackets and rates | See the source | gov.bc.ca — Personal income tax rates, 2026 tax year: 5.60% to $50,363; 7.70% to $100,728; 10.50% to $115,648; 12.29% to $140,430; 14.70% to $190,405; 16.80% to $265,545; 20.50% over | 2026-01-01 | 2026-10-03checked again each January |
| British Columbia indexation pause: no dollar amount in the personal tax provisions is indexed for these tax years | See the source | Income Tax Act (BC) s.4.52(4.25): "for the 2027 to 2030 taxation years, no amount expressed in dollars in a relevant provision is to be adjusted … except … section 8.3 (6) [renter's tax credit]" | 2027-01-01 | 2026-10-03checked again when the law changes, and every two years |
| BC428 carries base CPP contributions and EI premiums as credits at the lowest BC rate | No figure | gov.bc.ca — 2026 B.C. basic tax credits: EI (to a maximum of $1,123.07); CPP 4.95% of maximum contributory earnings ("Only base CPP contributions are eligible") | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| British Columbia pension amount (not indexed) | $1,000 | Income Tax Act (BC) s.4.32: "the smaller of (a) $1 000, and (b) the amount" of eligible pension income; gov.bc.ca: Pension $1,000, Indexed: No | 2002-01-01 | 2026-10-03checked again when the law changes, and every two years |
| BC tax reduction credit: a maximum less a rate of net income over a threshold, non-refundable | See the source | gov.bc.ca — 2026: base amount $690, net income threshold $25,570, reduction factor 3.56%, maximum net income $44,952; Income Tax Act (BC) s.4.301 (A − B), s.4.52(4.24) ($690 not indexed for 2026) | 2026-01-01 | 2026-10-03checked again each January |
| BC renter's tax credit: a refundable maximum less a rate of adjusted family income over a threshold, for a tenant who rented a home in BC for the months given here | See the source | gov.bc.ca — B.C. renter's tax credit: "up to $400 per year"; "at least 6 one-month periods"; 2026 adjusted income threshold $66,189, zero at $86,189 (2% reduction); Income Tax Act (BC) s.8.3 | 2026-01-01 | 2026-11-02checked again each January |
| British Columbia spouse or eligible dependant amount, in full while the dependant's income is at or below the threshold | $11,317 | gov.bc.ca — 2026 B.C. basic tax credits: spouse or common-law partner $11,317; eligible dependant $11,317 | 2026-01-01 | 2026-10-03checked again each January |
| British Columbia spouse or eligible dependant amount: nil at this dependant income (the amount plus the threshold) | $12,449 | Income Tax Act (BC) s.4.3(1)(a)(ii): B.1 − (C − B.2) is nil when the spouse's income C reaches B.1 + B.2 = $11,317 + $1,132 | 2026-01-01 | 2026-10-03checked again each January |
| British Columbia spouse or eligible dependant amount: reduced dollar for dollar by the dependant's income above this | $1,132 | gov.bc.ca — "Credit reduced when spouse or common-law partner's income exceeds: $1,132 (2026)"; ITA (BC) s.4.3: B.1 − (C − B.2) | 2026-01-01 | 2026-10-03checked again each January |
| Manitoba age amount (65 or older at year end), less 15% of net income over the threshold | See the source | The Income Tax Act (Manitoba) s.4.6(4): "$3,728 −.15A … A is the amount … by which the individual's income for the year would exceed $27,749"; TD1MB 2026 line 2 (nil at $52,602) | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Manitoba additional minimum tax: this share of the federal additional tax | 50% | The Income Tax Act (Manitoba) s.4.5: "50% of the amount that would be his or her additional tax for the year determined under subsection 120.2(3) of the federal Act" | 2000-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Manitoba basic personal amount | $15,780 | CRA TD1MB 2026, line 1: "can enter $15,780 … if your net income … will be equal or greater than $400,000, enter 0" | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Manitoba basic personal amount phase-out: reduced in proportion to income over $200,000 across the next $200,000 | See the source | The Income Tax Act (Manitoba) s.4.6(3.0.1): "reduced by … A × (B/$200,000) … B is the lesser of (a) $200,000; and (b) the amount by which the individual's income for the year exceeds $200,000" | 2025-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Manitoba personal income tax brackets and rates | See the source | The Income Tax Act (Manitoba) s.4.1(2), 2024 and later: "(a) 10.8% of the TI; (b) if the TI exceeds $47,000, 1.95% of the excess; (c) if the TI exceeds $100,000, 4.65% of the excess" — 10.8% / 12.75% / 17.4% | 2024-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Manitoba family tax benefit: amounts for the individual, a spouse or dependant claim, age 65 and each child, less 9% of the individual's income, taken as a credit amount | See the source | The Income Tax Act (Manitoba) s.4.6(16.1): "the amount … by which 9% of the individual's income for the year is exceeded by the total of $2,065 and … (a) $2,065, if the individual has claimed [a spouse or eligible dependant amount]; (b) $2,752 for each dependant in relation to whom the individual or the individual's spouse … was … an eligible individual (as defined in section 122.6 of the federal Act) … (d) $2,065, if the individual was at least 65" | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Manitoba's dollar amounts are fixed in the statute: no indexing provision applies after 2023 | No figure | The Income Tax Act (Manitoba) s.4.1(3) ("For the 2017 to 2023 taxation years, the dollar amounts … are to be indexed"), s.4.6(3.1) (basic personal amount, 2017 to 2022); TD1MB 2026 shows the 2025 amounts unchanged | 2024-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Manitoba Homeowners Affordability Tax Credit (the school tax reduction on the bill): the school taxes on an owned principal residence are reduced by the lesser of these taxes and the yearly amount, prorated by the days it is the principal residence. Each column applies from its year | See the source | The Income Tax Act (Manitoba) s.5.6(1): "reduced by the lesser of (a) $1,600; and (b) the amount of the school taxes"; s.5.4(2): "$1,600 × De/Dy … exceeds … the school tax reduction"; from 2027, S.M. 2026, c. 44, ss.3(2), 4(1): "$1,700" | 2026-01-01 | 2026-11-02checked again when the law changes, and every two years |
| From 2027, Manitoba's school tax reduction and Homeowners Affordability Tax Credit shrink in proportion to the assessed value over a threshold, across the next band, nil at the threshold plus the band | See the source | The Budget Implementation and Tax Statutes Amendment Act, 2026, S.M. 2026, c. 44, s.3(3) (new s.5.4(3)) and s.4(2) (new s.5.6(1.0.1)): "reduced by … A × (B/$500,000) … B is the lesser of (a) $500,000, and (b) the amount by which the assessed value … exceeds $1,000,000" | 2027-01-01 | 2026-11-02checked again when the law changes, and every two years |
| MB428 carries base CPP contributions and EI premiums as credits at the lowest Manitoba rate | No figure | Manitoba Finance — Personal Tax Credits: the non-refundable credit block, "multiplied by the bottom tax rate of 10.8%", includes Canada Pension Plan contributions and Employment Insurance premiums | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Manitoba pension income amount | $1,000 | CRA TD1MB 2026, line 3: "enter whichever is less: $1,000 or your estimated annual pension" | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Manitoba Renters Affordability Tax Credit: a yearly amount times the months rented over 12, at most the rent paid; with a 65-or-older person in the couple, a higher amount less the lesser of a cap and a rate of family income. Each row applies from its year | See the source | The Income Tax Act (Manitoba) s.5.6.1(3): "the lesser of (a) the individual's eligible rental cost for the year; and (b) … $625 × M/12"; s.5.6.1(4): "($982.14 − A) × M/12 … A is the lesser of $357.14 and 0.8929% of the individual's family income"; from 2027, S.M. 2026, c. 44, s.5(2)–(3): $675, $1,060.71, $385.71 and 0.9643% | 2026-01-01 | 2026-11-02checked again when the law changes, and every two years |
| Manitoba Seniors' School Tax Rebate: the lesser of a maximum and the school taxes left after the Homeowners Affordability Tax Credit, less a rate of family income over a threshold, prorated by the days eligible; for a homeowner who or whose spouse is 65 or older | See the source | The Income Tax Act (Manitoba) s.5.5.1(2): "(A −.01B) × De/Dy … A is the lesser of (a) $235, and (b) the amount, if any, by which (i) the individual's eligible school taxes for the year, exceeds the total of (ii) the homeowners affordability tax credit … and (iii) the school tax reduction … B is the amount, if any, by which the individual's family income for the taxation year exceeds $40,000" | 2026-01-01 | 2026-11-02checked again when the law changes, and every two years |
| Manitoba spouse or eligible dependant amount: this less the dependant's net income | $9,134 | CRA TD1MB 2026, lines 6–7: "Enter the difference between $9,134 and the estimated net income of your spouse" | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| New Brunswick age amount (65 or older at year end), less 15% of net income over the threshold | See the source | CRA TD1NB 2026, line 2: "net income from all sources will be $45,844 or less, enter $6,158 … between $45,844 and $86,898" (6,158 / 41,054 = 15%) | 2026-01-01 | 2026-10-03checked again each January |
| New Brunswick minimum tax: this share of the federal additional tax | 57% | New Brunswick Income Tax Act s.15: "The specific percentage is … (b) for any subsequent taxation year, 57%"; s.46: "A × B where A is the specific percentage for the year; and B is the amount … under subsection 120.2(3) of the Federal Act" | 2001-01-01 | 2026-10-03checked again when the law changes, and every two years |
| New Brunswick basic personal amount | $13,664 | CRA TD1NB 2026, line 1: "13,664" | 2026-01-01 | 2026-10-03checked again each January |
| New Brunswick personal income tax brackets and rates | See the source | CRA T4127 (January 2026), Table 8.1 New Brunswick: 9.4% to $52,333; 14% to $104,666; 16% to $193,861; 19.5% above | 2026-01-01 | 2026-10-03checked again each January |
| New Brunswick indexes its brackets and credit amounts, but not the pension amount | No figure | New Brunswick Income Tax Act s.16.1(1): "“relevant provision” means section 14, 17, 18, 19, 20, 21, 23, 26, 27 or 49.1"; s.16.1(2): each amount adjusted by the Consumer Price Index for Canada for the 12 months ended September 30 | 2001-01-01 | 2026-10-03checked again when the law changes, and every two years |
| New Brunswick low-income tax reduction: an amount for the individual, for a spouse (or, without one, an eligible dependant), less a rate of family income over a threshold; one claim a couple | See the source | New Brunswick Income Tax Act s.49.1(2): "(a) the amount, rounded up to the next dollar, determined by the formula A × ($19,177 – B) where A is the appropriate percentage … and B is the amount prescribed for B in section 19, (b) the amount determined under paragraph (a) for a person who is the qualified relation … (c) … [an eligible dependant without one] exceeds (d) 4% of the amount, if any, by which (i) the eligible individual’s adjusted income … exceeds (ii) $19,177"; s.49.1(2.01): "the reference to “4%” … shall be read as a reference to “3%”"; NB428 2025: $802 and $21,920 | 2026-01-01 | 2026-10-03checked again each January |
| NB428 carries base CPP contributions and EI premiums as credits at the lowest New Brunswick rate | No figure | New Brunswick Income Tax Act s.32 (credit for EI premium and CPP contribution) | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| New Brunswick pension income amount, fixed in the statute | $1,000 | New Brunswick Income Tax Act s.24(1): "B is the lesser of (a) $1000, and (b) the amount determined … for paragraph (b) of variable B in the formula in subsection 118(3) of the Federal Act"; s.24 is not a "relevant provision" of s.16.1(1) | 2004-01-01 | 2026-10-03checked again when the law changes, and every two years |
| New Brunswick spouse or eligible dependant amount, in full while the dependant's income is at or below the threshold | $10,709 | CRA TD1NB 2026, lines 6–7: "Enter $10,709 if … net income of $1,072 or less … a partial amount if … between $1,072 and $11,781" | 2026-01-01 | 2026-10-03checked again each January |
| New Brunswick spouse or eligible dependant amount: nil at this dependant income | $11,781 | CRA TD1NB 2026, lines 6–7: "between $1,072 and $11,781" | 2026-01-01 | 2026-10-03checked again each January |
| New Brunswick spouse or eligible dependant amount: reduced dollar for dollar by the dependant's income above this | $1,072 | CRA TD1NB 2026, lines 6–7: "$1,072 or less" | 2026-01-01 | 2026-10-03checked again each January |
| Newfoundland and Labrador age amount (65 or older at year end), less 15% of net income over the threshold | See the source | CRA TD1NL 2026, line 2: "net income from all sources will be $39,138 or less, enter $7,142 … between $39,138 and $86,752"; ITA (NL) s.9(2): "B is 15% of the amount, if any, by which the individual's income for the year would exceed [the threshold]" | 2026-01-01 | 2026-10-03checked again each January |
| Newfoundland and Labrador minimum tax: this share of the federal additional tax (the provincial lowest rate over the federal lowest rate) | 62.1% | Income Tax Act, 2000 (NL) s.5: "“provincial percentage” for a taxation year means the appropriate percentage divided by the appropriate percentage as defined in the federal Act, expressed as a percentage that is rounded to the nearest one tenth"; s.30: "A x B where A is the provincial percentage"; 8.7% ÷ 14% = 62.1% for 2026 (NL428 2025 printed 60% = 8.7 ÷ 14.5) | 2026-01-01 | 2026-10-03checked again each January |
| Newfoundland and Labrador basic personal amount | $13,094 | Income Tax Act, 2000 (NL) s.9(1)(c): "$13,094" (2026 c14 s1); TD1NL 2026 line 1: "13,094". Budget 2026 announced $15,000; not enacted at retrieval | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Newfoundland and Labrador personal income tax brackets and rates | See the source | gov.nl.ca — Personal Income Tax, 2026: "8.7% first $44,678; 14.5% over $44,678 up to $89,354; 15.8% … up to $159,528; 17.8% … up to $223,340; 19.8% … up to $285,319; 20.8% … up to $570,638; 21.3% … up to $1,141,275; 21.8% over $1,141,275" | 2026-01-01 | 2026-10-03checked again each January |
| Newfoundland and Labrador indexes its brackets, credit amounts and low income reduction thresholds by the provincial price index, but not the pension amount, and not the basic amount before 2027 | No figure | Income Tax Act, 2000 (NL) s.6.1(3)(b): "“relevant section” means section 7, 11, 12, 17.1, 32, subsections 9(1) and (2) and paragraphs 21.1(2)(b) and (c)"; s.9(5): "the amount of $13,094 … shall not be adjusted … before the 2027 taxation year" | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Newfoundland and Labrador low income reduction: an amount for the individual and one for a spouse or eligible dependant, less 16% of family income over a threshold (higher with a spouse or dependant); applied last; one claim a couple | See the source | Low Income Tax Reduction Regulations for the 2025 and 2026 Taxation Years (NL Reg 18/26) s.3(b): "for the 2026 taxation year, (i) the amount referred to in paragraph 21.1(2.1)(a) of the Act is $842, and (ii) the amount referred to in paragraph 21.1(2.1)(b) of the Act is $563"; ITA (NL) s.21.1(2): "the amount, if any, by which A + B exceeds 16% of the amount, if any, by which (a) the eligible individual's adjusted income … exceeds (b) $18,547; or (c) where the eligible individual has a qualified relation … or claims an amount under paragraph 9(1)(b) …, $31,362"; s.21.1(5): "applied last" | 2026-01-01 | 2026-10-03checked again each January |
| NL428 carries base CPP contributions and EI premiums as credits at the lowest Newfoundland and Labrador rate | No figure | Income Tax Act, 2000 (NL) s.17: "Section 118.7 of the federal Act applies for the purpose of this Act" | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Newfoundland and Labrador pension income amount, fixed in the statute | $1,000 | Income Tax Act, 2000 (NL) s.9(3): "B is the lesser of (a) $1,000; and (b) the amount determined under paragraph (b) of the description of B in subsection 118(3) of the federal Act"; TD1NL 2026 line 3 | 2000-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Newfoundland and Labrador spouse or eligible dependant amount, in full while the dependant's income is at or below the threshold | $9,142 | CRA TD1NL 2026, lines 6–7: "Enter $9,142 if … net income for the year will be $915 or less … a partial amount if … between $915 and $10,057" | 2026-01-01 | 2026-10-03checked again each January |
| Newfoundland and Labrador spouse or eligible dependant amount: nil at this dependant income | $10,057 | CRA TD1NL 2026, lines 6–7: "between $915 and $10,057" | 2026-01-01 | 2026-10-03checked again each January |
| Newfoundland and Labrador spouse or eligible dependant amount: reduced dollar for dollar by the dependant's income above this | $915 | CRA TD1NL 2026, lines 6–7: "$915 or less" (s.9(1)(a)'s $606 indexed) | 2026-01-01 | 2026-10-03checked again each January |
| Nova Scotia age amount (65 or older at year end), less 15% of net income over a threshold the statute fixes | See the source | CRA TD1NS 2026, line 2: "net income from all sources will be $30,828 or less, enter $5,826 … between $30,828 and $69,668"; ITA (NS) s.10G(1): "C is 15% of the amount, if any, by which the individual’s income for the year would exceed $30,828" | 2026-01-01 | 2026-10-03checked again each January |
| Nova Scotia age tax credit: an amount off tax for a resident 65 or older whose taxable income is under the limit | See the source | Income Tax Act (NS) s.36B(1)–(2): "may deduct from tax otherwise payable … the amount of $1,000 for the 2014 and subsequent taxation years … if the individual … (b) attained the age of sixty-five years on or before December 31st … and (c) had a taxable income … of less than $24,000" | 2014-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Nova Scotia minimum tax: this share of the federal additional tax | 57.5% | Income Tax Act (NS) s.7(f): "“provincial percentage” for a taxation year means 57.5%"; s.31: "A × B where A is the provincial percentage; and B is the individual’s additional tax … under subsection 120.2(3) of the Federal Act" | 2000-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Nova Scotia basic personal amount | $11,932 | CRA TD1NS 2026, line 1: "11,932"; novascotia.ca: "Basic Personal Amount … $11,932" (ITA s.10B(1)'s $11,744 indexed) | 2026-01-01 | 2026-10-03checked again each January |
| Nova Scotia personal income tax brackets and rates | See the source | novascotia.ca — Personal income tax rates and indexation, 2026 tax year: "8.79% $30,995; 14.95% $61,991; 16.67% $97,417; 17.5% $157,124; 21% Over $157,124" | 2026-01-01 | 2026-10-03checked again each January |
| Nova Scotia refunds its income tax to a resident 65 or older who received the GIS in the year, up to a cap | $10,000 | Tax Refund for Seniors Receiving the Guaranteed Income Supplement Regulations (NS) s.5: "deemed to have made an overpayment of tax … equal to the lesser of $10 000.00 and his or her tax liability under Part II of the Act"; s.4(1): 65 or older, "received the Guaranteed Income Supplement … at any time during the taxation year" | 2010-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Nova Scotia indexes only the brackets, the basic, spouse, eligible dependant, infirm dependant and age amounts; every other dollar amount is fixed in the statute | No figure | Income Tax Act (NS) s.22A(1)(b): "“relevant Section” means Section 8, subsection 10B(1), 10C(1) or 10D(1), Section 10F and subsection 10G(1)"; s.22A(4): "This Section does not apply to the amount “$30,828” in the description of C in subsection 10G(1)" | 2025-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Nova Scotia low income tax reduction: an amount for the individual, for a spouse (or, without one, an eligible dependant) and for each other dependant, less a rate of family income over a threshold; one claim a couple | See the source | Income Tax Act (NS) s.35(4): "the amount, if any, by which the total of (a) $300; (b) $300 for a person who is the qualified relation … (c) $300, if the individual has no qualified relation … [and claims an eligible dependant]; and (d) the product obtained when $165 is multiplied by the number of qualified dependants … exceeds (e) 5% of the amount, if any, by which (i) the individual’s adjusted income for the year, exceeds (ii) $15,000, may be deducted from tax otherwise payable under Sections 7 to 34"; s.35(5): "only one of those individuals may apply" | 2018-01-01 | 2026-10-03checked again when the law changes, and every two years |
| NS428 carries base CPP contributions and EI premiums as credits at the lowest Nova Scotia rate | No figure | Income Tax Act (NS) s.18: "Section 118.7 of the Federal Act applies for the purposes of this Act" | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Nova Scotia pension income amount | $1,173 | Income Tax Act (NS) s.10H: "B is the lesser of (a) $1,173; and (b) the amount … under subsection 118(3) of the Federal Act"; TD1NS 2026 line 3 | 2025-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Nova Scotia spouse or eligible dependant amount, in full while the dependant's income is at or below the threshold | $11,932 | CRA TD1NS 2026, lines 6–7: "Enter $11,932 if … net income for the year will be $888 or less … a partial amount if … between $888 and $12,820" | 2026-01-01 | 2026-10-03checked again each January |
| Nova Scotia spouse or eligible dependant amount: nil at this dependant income | $12,820 | CRA TD1NS 2026, lines 6–7: "between $888 and $12,820" (s.10C(1)'s B of $12,618 indexed) | 2026-01-01 | 2026-10-03checked again each January |
| Nova Scotia spouse or eligible dependant amount: reduced dollar for dollar by the dependant's income above this | $888 | Income Tax Act (NS) s.10C(1): "A × (B − C) where … C is the greater of $874 and the income of the individual’s spouse or common-law partner"; indexed to $888 for 2026 (TD1NS lines 6–7) | 2026-01-01 | 2026-10-03checked again each January |
| Nova Scotia amount for young children: this much for each month a child under 6 lives with the parent; with a spouse, the lower-income parent claims it | $100 | Income Tax Act (NS) s.10I(2): "B is the product obtained when $100 is multiplied by the number of months in the taxation year that the individual is the eligible individual in respect of the qualified dependant"; s.10I(1): a qualified dependant "has not attained the age of six years"; the eligible individual has no spouse or one with greater income | 2018-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Northwest Territories payroll tax: a share of an employee's pay, withheld by the employer; not an income tax and not credited against one | 2% | Payroll Tax Act (NT) s.3(1): "Every employee is liable to pay to the Government a tax in the amount equal to 2% of the remuneration paid to the employee in the year" | 1993-07-01 | 2026-10-04checked again when the law changes, and every two years |
| Northwest Territories age amount (65 or older at year end), less 15% of net income over the threshold | See the source | CRA TD1NT 2026, line 2: "If you will be 65 or older on December 31, 2026, and your net income from all sources will be $46,432 or less, enter $8,902. You may enter a partial amount if your net income for the year will be between $46,432 and $105,779" | 2026-01-01 | 2026-10-04checked again each January |
| Northwest Territories minimum tax: this share of the federal additional tax, and of the federal carryover | 45% | Income Tax Act (NT) s.2.1: "“specific percentage”, for a taxation year, means 45%"; ss.2.31 (carryover) and 2.43 (minimum tax) | 2004-01-01 | 2026-10-04checked again when the law changes, and every two years |
| Northwest Territories basic personal amount | $18,198 | CRA TD1NT 2026, line 1: "Basic personal amount – Every person employed in the Northwest Territories and every pensioner residing in the Northwest Territories can claim this amount" ($18,198) | 2026-01-01 | 2026-10-04checked again each January |
| Northwest Territories personal income tax brackets and rates | See the source | CRA T4127 (January 2026), Table 8.1 Northwest Territories: 5.9% to $53,003; 8.6% to $106,009; 12.2% to $172,346; 14.05% above; Income Tax Act (NT) s.2.11(2): "(a) tier one rate for the 2005 and subsequent taxation years is 5.9%; (b) tier two rate … is 8.6%; (c) tier three rate … is 12.2%; and (d) tier four rate … is 14.05%" | 2026-01-01 | 2026-10-04checked again each January |
| Northwest Territories cost of living tax credit (NT479): a rising share of net income up to a cap, plus a supplement at 18 or older for a low-income household; refundable | See the source | Income Tax Act (NT) s.4.1(2): "(a) 2.60% of the individual's net income, if the individual's net income does not exceed $12,000; (b) $312 plus 1.25% of the amount by which the individual's net income exceeds $12,000 … but does not exceed $48,000; (c) $762 plus 1% of the amount by which the individual's net income exceeds $48,000 … but does not exceed $66,000; or (d) $942, where the individual's net income exceeds $66,000"; s.4.1(2.1): "(a) $350 minus the amount calculated under subsection (2), if … the individual is not married or in a common-law partnership …; or (b) $700 minus the sum of the amounts calculated under subsection (2) for the individual and the individual's spouse"; s.4.1(2.2): "An individual whose spouse or common-law partner claims a deduction under subsection (2.1) is not entitled to claim"; s.4.1(4): the excess over tax payable is refunded | 2005-01-01 | 2026-10-04checked again when the law changes, and every two years |
| Northwest Territories amounts fixed in dollars: the pension amount and the cost of living tax credit | No figure | Income Tax Act (NT) s.2.13(1) lists the provisions whose dollar amounts are adjusted each year; ss.2.21 and 4.1 are not among them | 2001-01-01 | 2026-10-04checked again when the law changes, and every two years |
| NT428 carries base CPP contributions and EI premiums as credits at the lowest Northwest Territories rate | No figure | Income Tax Act (NT) s.2.29 (credit for EI premium and CPP contribution) | 2026-01-01 | 2026-10-04checked again when the law changes, and every two years |
| Northwest Territories pension income amount, fixed in the statute | $1,000 | Income Tax Act (NT) s.2.21(1): "B is the lesser of (i) $1,000, and (ii) the amount that is determined under paragraph (b) of the description of B in subsection 118(3) of the federal Act"; s.2.13(1): the annual adjustment "applies to sections 2.17 and 2.18, paragraph 2.2(c), section 2.23 and paragraph 2.24(1)(c)", not to s.2.21 | 2001-01-01 | 2026-10-04checked again when the law changes, and every two years |
| Northwest Territories spouse or eligible dependant amount: the basic personal amount less the dependant's net income | $18,198 | CRA TD1NT 2026, line 6: "Enter the difference between the amount at line 1 and the estimated net income of your spouse or common-law partner"; line 7 the same for an eligible dependant | 2026-01-01 | 2026-10-04checked again each January |
| Nunavut payroll tax: a share of an employee's gross pay, withheld by the employer; not an income tax and not credited against one | 2% | Government of Nunavut, Guide to Payroll Tax Withholding and Reporting (2025): "Employers are required to withhold 2% of gross remuneration paid from each employee at the time the employee is paid" | 1999-04-01 | 2026-10-04checked again when the law changes, and every two years |
| Nunavut age amount (65 or older at year end), less 15% of net income over the threshold | See the source | CRA TD1NU 2026, line 2: "If you will be 65 or older on December 31, 2026, and your net income from all sources will be $46,432 or less, enter $12,550. You may enter a partial amount if your net income for the year will be between $46,432 and $130,099" | 2026-01-01 | 2026-10-04checked again each January |
| Nunavut minimum tax: this share of the federal additional tax, and of the federal carryover | 45% | Income Tax Act (Nu) s.2.1: "“specific percentage”, for a taxation year, means 45%"; NU428 (2025) lines 58 and 61: "× 45%" | 2004-01-01 | 2026-10-04checked again when the law changes, and every two years |
| Nunavut basic personal amount | $19,659 | CRA TD1NU 2026, line 1: basic personal amount ($19,659) | 2026-01-01 | 2026-10-04checked again each January |
| Nunavut personal income tax brackets and rates | See the source | CRA T4127 (January 2026), Table 8.1 Nunavut: 4% to $55,801; 7% to $111,602; 9% to $181,439; 11.5% above | 2026-01-01 | 2026-10-04checked again each January |
| Nunavut cost of living tax credit (NU479): a share of net income up to a cap, and a supplement for a single parent with higher income; refundable | See the source | Income Tax Act (Nu) s.4.1(1.2): "(a) 2% of the individual's net income, if the individual's net income does not exceed $75,000; or (b) $1,500, where the individual's net income exceeds $75,000"; s.4.1(1.3): "a single parent may deduct from tax otherwise payable under this Act an amount equal to 2% of the portion of the individual's net income that exceeds $60,000 to a maximum of $255.12"; NU479 (2025): "(maximum $1,500)", "(maximum $255.12)" | 2007-01-01 | 2026-10-04checked again when the law changes, and every two years |
| Nunavut amounts fixed in dollars: the young child amount and the cost of living credit | No figure | Income Tax Act (Nu) ss.2.211(1) and 4.1(1.2)–(1.3) state their amounts in dollars with no annual adjustment | 2007-01-01 | 2026-10-04checked again when the law changes, and every two years |
| NU428 carries base CPP contributions and EI premiums as credits at the lowest Nunavut rate | No figure | CRA NU428 (2025), line 20: "CPP or QPP contributions: Amount from line 30800 of your return"; line 22: "Employment insurance premiums: Amount from line 31200 of your return", both in the amount credited at the lowest rate | 2026-01-01 | 2026-10-04checked again when the law changes, and every two years |
| Nunavut pension income amount: the federal amount | $2,000 | Income Tax Act (Nu) s.2.21(1): "B is equal to B as determined in accordance with subsection 118(3) of the federal Act"; NU428 line 27 "(maximum $2,000)" | 2019-01-01 | 2026-10-04checked again when the law changes, and every two years |
| Nunavut spouse or eligible dependant amount: the basic personal amount less the dependant's net income | $19,659 | CRA TD1NU 2026, line 6: "Enter the difference between the amount at line 1 and the estimated net income of your spouse or common-law partner"; NU428 lines 11–16: base amount less the spouse's or eligible dependant's net income | 2026-01-01 | 2026-10-04checked again each January |
| Nunavut amount for young children: this much a year for each child under 6 at any time in the year; with a spouse, the lower-income parent claims it | $1,200 | Income Tax Act (Nu) s.2.211(1): "there may be deducted, in respect of each qualified dependent, an amount determined by the formula A x B where … B is … (b) for the 2007 and subsequent taxation years, $1,200"; s.2.211(2): the eligible individual has no cohabiting spouse or one "whose income for the year is greater"; a qualified dependent "(a) is less than six years of age at any time during the taxation year, (b) is residing with the eligible individual on the last day of the taxation year … (d) is not a person in respect of whom an amount has been deducted … under subsection 2.15(3)"; NU428 line 18 "Number of children × $1,200" | 2007-01-01 | 2026-10-04checked again when the law changes, and every two years |
| Ontario HST rate, applied to the MLTT administration fee | 13% | CRA — GST/HST rates by province | 2010-07-01 | 2026-09-16checked again when the law changes, and every two years |
| Ontario age amount 2026 (ON428 line 58080): $6,342, reduced by 15% of net income over $47,210, nil at $89,490; credited at 5.05% before the surtax; indexed (ON factor 1.9% for 2026) | See the source | CRA — TD1ON 2026 Ontario Personal Tax Credits Return, line 2 | 2026-01-01 | 2026-09-15checked again each January |
| Ontario additional tax for minimum tax purposes: this share of the federal additional tax (T691 Part 5 line 11) plus the surtax it attracts; the Ontario tax reduction is denied when it applies; Ontario minimum tax carryover = lesser of (basic Ontario tax − dividend credit) and this share of federal line 40427 | 24.63% | Worksheet ON428 (2025) line 72 ("× 24.63%"); Form ON428 (2025) lines 56–61, 72, 80 | 2024-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Ontario basic personal amount (no phase-out) | $12,989 | TaxTips.ca 2026 Ontario credits · checked through other published sources | 2026-01-01 | 2026-08-26checked again each January |
| Ontario personal brackets 2026 (5.05/9.15/11.16/12.16/13.16) | See the source | CRA — Combined 2026 federal/Ontario rates; $150k/$220k thresholds not indexed | 2026-01-01 | 2026-08-26checked again each January |
| Ontario Health Premium schedule (statutory, NOT indexed): <=20k $0; to 36k min(300, 6% over 20k); to 48k min(450, 300+6% over 36k); to 72k min(600, 450+25% over 48k); to 200k min(750, 600+25% over 72k); above, min(900, 750+25% over 200k) | See the source | CRA T4032ON Jan 2026 verbatim worksheet lines; ontario.ca/page/health-premium corroborates ($900 only above $200,600) | 2004-07-01 | 2026-08-26checked again each January |
| Ontario LIFT credit maximum (2022 and later) | $875 | ontario.ca — Low-Income Workers Tax Credit ("$875 or 5.05% of your employment income, whichever is lower"); Taxation Act, 2007 s.103.0.5 | 2022-01-01 | 2026-09-18checked again when the law changes, and every two years |
| LIFT: this rate of employment income, capped at the maximum | 5.05% | ontario.ca — Low-Income Workers Tax Credit | 2022-01-01 | 2026-09-18checked again when the law changes, and every two years |
| LIFT reduction rate | 5% | ontario.ca — Low-Income Workers Tax Credit | 2022-01-01 | 2026-09-18checked again when the law changes, and every two years |
| LIFT reduced by the reduction rate of adjusted family net income over this; the greater of the two reductions applies | $65,000 | ontario.ca — Low-Income Workers Tax Credit | 2022-01-01 | 2026-09-18checked again when the law changes, and every two years |
| LIFT reduced by the reduction rate of adjusted individual net income over this | $32,500 | ontario.ca — Low-Income Workers Tax Credit | 2022-01-01 | 2026-09-18checked again when the law changes, and every two years |
| ON428 carries the same base-CPP and EI credits (lines 58240, 58300) at the lowest Ontario rate, before the surtax; no Ontario employment amount | No figure | CRA — Form ON428, Ontario Tax (lines 58240, 58300); Taxation Act, 2007 s.9(11) | 2026-01-01 | 2026-09-15checked again each January |
| Ontario pension income amount (ON428 line 58360): lesser of this and eligible pension income; indexed | $1,796 | CRA — TD1ON 2026 Ontario Personal Tax Credits Return, line 3 | 2026-01-01 | 2026-09-15checked again each January |
| Ontario tax reduction basic amount (ON428 line 73): reduction = 2 × (basic + dependant amounts) − Ontario tax before reduction, floored at zero | $300 | 5006-C ON428 — Ontario Tax | 2026-01-01 | 2026-09-17checked again each January |
| Ontario spouse or common-law partner amount / amount for an eligible dependant (ON428 lines 58120/58160), in full while the dependant's net income is at or below the threshold | $11,029 | TD1ON 2026 lines 5–6 ("Enter $11,029 … net income for the year will be $1,103 or less") | 2026-01-01 | 2026-09-18checked again each January |
| Ontario spouse/eligible-dependant amount: this minus the dependant's net income above the threshold; nil above it | $12,132 | TD1ON 2026 lines 5–6 ("between $1,103 and $12,132") | 2026-01-01 | 2026-09-18checked again each January |
| Ontario spouse/eligible-dependant amount: full at dependant net income up to this | $1,103 | TD1ON 2026 lines 5–6 | 2026-01-01 | 2026-09-18checked again each January |
| Ontario surtax tiers 2026 (20% over threshold1; +36% more over threshold2) | See the source | T4032ON 2026; operative thresholds indexed: 5818 / 7446 | 2026-01-01 | 2026-08-26checked again each January |
| CPP base contribution rate (employee) — the creditable part of the full rate | 4.95% | CRA — Line 30800 base CPP contributions (2025 max $3,356.10 = 4.95% × $67,800) | 2026-01-01 | 2026-09-15checked again each January |
| CPP first additional (enhanced) contribution rate — deducted on line 22215, not credited | 1% | CRA — Line 22215 deduction for CPP enhanced contributions (2025 max first additional $678 = 1% × $67,800; CPP2 $396 = 4% × $9,900) | 2026-01-01 | 2026-09-15checked again each January |
| CPP annual basic exemption | $3,500 | CPP enhancement pages · checked through other published sources | 2026-01-01 | 2026-08-26checked again each January |
| CPP employee contribution rate (base plus enhancement) | 5.95% | CPP enhancement contribution rate · checked through other published sources | 2026-01-01 | 2026-08-26checked again each January |
| Credit at the appropriate percentage on self-employed CPP contributions in excess of the 60(e) deduction (the other half of the base) | See the source | ITA 118.7 B(c) | 2019-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Deduction for CPP on self-employed earnings: one-half of the base contribution and all of the first and second additional contributions | 50% | ITA 60(e)(i) ("1/2 of the lesser of... a contribution under subsection 10(1)"), 60(e)(ii) | 2019-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Self-employed CPP: base, first and second additional contributions at twice the employee rates on the lesser of contributory self-employed earnings (less the unused basic exemption) and the maximum contributory earnings less salary already contributed on | 200% | Canada Pension Plan s.10(1), 10(1.1), 10(1.2); s.11.1 ("contribution rate for self-employed persons") | 2019-01-01 | 2026-09-18checked again when the law changes, and every two years |
| CPP2 Year's Additional Maximum Pensionable Earnings (YAMPE) | $85,000 | CRA payroll limits 2026 · checked through other published sources | 2026-01-01 | 2026-08-26checked again each January |
| CPP Year's Maximum Pensionable Earnings (YMPE) | $74,600 | CRA payroll limits 2026 · checked through other published sources | 2026-01-01 | 2026-08-26checked again each January |
| CPP2 employee rate on earnings between YMPE and YAMPE | 4% | CPP enhancement · checked through other published sources | 2026-01-01 | 2026-08-26checked again each January |
| EI employer multiplier (standard program) | 140% | CRA — EI employer share (reduced-rate programs exist; 1.4x standard) | 2026-01-01 | 2026-08-26checked again each January |
| EI maximum insurable earnings | $68,900 | CRA — EI maximums 2026 | 2026-01-01 | 2026-08-26checked again each January |
| EI employee premium rate | 1.63% | CRA — EI premium rates and maximums 2026 | 2026-01-01 | 2026-08-26checked again each January |
| EI employee premium rate in Quebec (reduced because QPIP pays parental benefits) | 1.3% | CRA — EI premium rates and maximums, 2026: Quebec employee rate 1.30, maximum annual employee premium $895.70 | 2026-01-01 | 2026-10-03checked again each January |
| EI premiums are refunded through the return when insurable earnings for the year are at or below this | $2,000 | CRA — Line 31200 EI premiums through employment | 1996-06-30 | 2026-09-16checked again when the law changes, and every two years |
| Prince Edward Island age amount (65 or older at year end), less 15% of net income over the threshold | See the source | CRA TD1PE 2026, line 2: "If you will be 65 or older on December 31, 2026, and your net income from all sources will be $36,600 or less, enter $6,510. You may enter a partial amount if your net income for the year will be between $36,600 and $80,000" | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Prince Edward Island minimum tax: this share of the federal additional tax | 57.5% | Income Tax Act (PE) s.6(f): "“provincial percentage” for a taxation year means 57.5%"; s.30: "there shall be added … A × B where A is the provincial percentage; and B is the individual's additional tax for the taxation year determined pursuant to subsection 120.2(3) of the Federal Act" | 2000-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Prince Edward Island basic personal amount | $15,000 | CRA TD1PE 2026, line 1: "Basic personal amount – Every person employed in Prince Edward Island and every pensioner residing in Prince Edward Island can claim this amount" ($15,000); T4127 Table 8.1 | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Prince Edward Island personal income tax brackets and rates | See the source | CRA T4127 (July 2026), Prince Edward Island: "For 2026 and subsequent years, taxable income above $200,000 is subject to a 20% tax rate"; V and KP values for Option 2: 9.5% to $33,928; 13.47% to $65,820; 16.6% to $106,890; 17.62% to $142,520; 19% to $200,000; 20% above | 2026-01-01 | 2026-11-02checked again when the law changes, and every two years |
| Prince Edward Island low income tax reduction: amounts for the individual, a spouse or eligible dependant, each other dependant and each spouse 65 or older, less 5% of family income over a threshold; applied after the foreign tax credit; one claim a couple | See the source | Income Tax Act (PE) s.32(2): "the amount, if any, by which the total of (a) $350; (b) $350 for a person who is the qualified relation of the individual for the year; (c) $350, where the individual has no qualified relation … [and claims an eligible dependant]; (d) the product obtained when $300 is multiplied by the number of the qualified dependants …; (e) $250, where the individual, before the end of the year, has attained the age of sixty-five years; and (f) $250, where the person who is the qualified relation … has attained the age of sixty-five years … exceeds (g) 5% of the amount, if any, by which the individual's adjusted income for the year exceeds $22,650 [2025; $23,000 for 2026], may be deducted from the eligible individual's tax otherwise payable under subdivisions a to f"; s.32(1)(c): a qualified dependant includes "a child of the individual residing with the individual at the end of the year" who is not 19 or older, married or a parent | 2018-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Prince Edward Island indexes none of its dollar amounts: each is set in the statute | No figure | CRA T4127 (January 2026), Table 8.1 note: "No indexing applies to Prince Edward Island" | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| PE428 carries base CPP contributions and EI premiums as credits at the lowest Prince Edward Island rate | No figure | Income Tax Act (PE) s.17: "Section 118.7 of the Federal Act applies for the purposes of this Act, except that any reference to “appropriate percentage” in that section is to be read as a reference to “appropriate percentage” (as that term is defined for the purposes of this Division)" | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Prince Edward Island pension income amount, fixed in the statute | $1,000 | Income Tax Act (PE) s.9(3): "B is the lesser of (a) $1,000; and (b) the amount determined under paragraph (b) of the description of B in subsection 118(3) of the federal Act"; TD1PE 2026 line 3 | 2000-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Prince Edward Island spouse or eligible dependant amount, in full while the dependant's income is at or below the threshold | $12,740 | CRA TD1PE 2026, line 6: "Enter $12,740 if you are supporting your spouse or common-law partner … net income for the year will be $1,274 or less … a partial amount if … between $1,274 and $14,014"; line 7 the same for an eligible dependant | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Prince Edward Island spouse or eligible dependant amount: nil at this dependant income | $14,014 | CRA TD1PE 2026, lines 6–7: "between $1,274 and $14,014" | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Prince Edward Island spouse or eligible dependant amount: reduced dollar for dollar by the dependant's income above this | $1,274 | CRA TD1PE 2026, lines 6–7: "$1,274 or less"; ITA (PE) s.9(1)(a): "C is the greater of [the threshold] and the income of the individual's spouse" | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Prince Edward Island young child amount: this much for each month a child under 6 lives with the parent; with a spouse, the lower-income parent claims it | $100 | Income Tax Act (PE) s.9(5): "B is the product obtained when $100 is multiplied by the number of months in the taxation year … that the individual is the eligible individual in respect of the qualified dependant on the first day of the month"; a qualified dependant "has not attained the age of six years" and "resides with the eligible individual"; the eligible individual has no cohabiting spouse or one "whose income for the taxation year is greater" | 2006-07-01 | 2026-10-03checked again when the law changes, and every two years |
| QPIP maximum insurable earnings | $103,000 | Québec.ca — Taux de cotisations au RQAP 2026: salariés 0,430 %, cotisations maximales 442,90 $ (= 0.430% × $103,000) | 2026-01-01 | 2026-10-03checked again each January |
| QPIP employee premium rate | 0.43% | Regulation respecting parental insurance plan premiums, s.9.1(1): "0.430% for the rate applicable to an employee" | 2026-01-01 | 2026-10-03checked again each January |
| QPIP self-employed premium rate | 0.76% | Regulation respecting parental insurance plan premiums, s.9.1(3): "0.764% for the rate applicable to a self-employed worker" | 2026-01-01 | 2026-10-03checked again each January |
| QPP base plan employee contribution rate — the part credited federally | 5.3% | Retraite Québec — Contributions to the QPP: "you contribute to the basic plan under the QPP at a rate of 5.3 %" | 2026-01-01 | 2026-10-03checked again each January |
| No QPP contribution for any year after the year the worker reaches this age | 72 years | Act respecting the Québec Pension Plan, s.37.0.1: "No contribution is payable … for any year subsequent to the year in which the worker reaches 72 years of age" | 2024-01-01 | 2026-10-03checked again when the law changes, and every two years |
| QPP basic exemption | $3,500 | Retraite Québec — Contributions to the Québec Pension Plan: "employment earnings are greater than the basic exemption of $3500" | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| QPP first additional plan employee contribution rate — deducted from income, not credited | 1% | Retraite Québec — Contributions to the QPP: "and to the additional plan at a rate of 1 %" | 2024-01-01 | 2026-10-03checked again when the law changes, and every two years |
| QPP maximum pensionable earnings (MPE) | $74,600 | Retraite Québec — Contributions to the QPP: "the maximum pensionable earnings (MPE), which is $74 600 in 2026" | 2026-01-01 | 2026-10-03checked again each January |
| QPP second additional plan employee contribution rate on earnings between the MPE and the YAMPE | 4% | Retraite Québec — Contributions to the QPP: "you contribute to the additional plan under the QPP at a rate of 4 % on your earnings between $ 74 600 and $ 85 000" | 2024-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Self-employed QPP: both the worker's and the employer's share, on every part of the plan | 2 | Retraite Québec — 2026 Key Data: "Self-employed workers pay both shares of the contribution"; base 10.6%, additional 2% and 8% | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| QPP additional maximum pensionable earnings (YAMPE) | $85,000 | Retraite Québec — 2026 Benefit Amounts and Key Data: "Additional maximum annual pensionable earnings … (YAMPE) $85 000" | 2026-01-01 | 2026-10-03checked again each January |
| Quebec amounts for a person living alone, for age and for retirement income: added together for the couple, less a rate of family income over a threshold | See the source | Taxation Act s.752.0.7.4 (the amounts, 125% of retirement income, "exceeds 18.75% of the individual's family income"), s.752.0.7.5 (split between spouses); Parameters 2026 Table 3 (living alone $2,172, age $3,986, retirement income $3,541, threshold $42,955) | 2026-01-01 | 2026-10-03checked again each January |
| Quebec minimum tax: a rate of adjusted taxable income over an exemption, less half the basic credits | See the source | Taxation Act s.776.46 ("19%, where the taxation year is the year 2024 or a subsequent year"; exemption $175,000), s.776.65 (1/2 of the credits); Parameters 2026 Table 3 (general exemption $183,680) | 2026-01-01 | 2026-10-03checked again each January |
| Quebec basic personal amount | $18,952 | Finances Québec, Parameters 2026, Table 3: "Basic personal amount 18 571 (2025) 18 952 (2026)" | 2026-01-01 | 2026-10-03checked again each January |
| Quebec personal income tax brackets and rates | See the source | Taxation Act s.750 (14% / 19% / 24% / 25.75%); Finances Québec, Parameters of the Personal Income Tax System for 2026, Table 3 (2026 thresholds $54,345 / $108,680 / $132,245) | 2026-01-01 | 2026-10-03checked again each January |
| Rate at which Quebec non-refundable credits are taken (basic personal amount, the age, living-alone and retirement-income block, the credit transfer) | 14% | Taxation Act s.750.1: "14%, where the taxation year is the year 2023 or a subsequent year" | 2023-01-01 | 2026-10-03checked again when the law changes, and every two years |
| A spouse's non-refundable credits beyond their own Quebec tax are deducted from the other spouse's tax | No figure | Taxation Act s.776.41.5: the formula A − B, A the eligible spouse's credits, B the eligible spouse's tax otherwise payable | 2003-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Individual contribution to the Health Services Fund, on income other than employment income | See the source | Act respecting the Régie de l'assurance maladie du Québec s.34.1.6 (1% over the first threshold, at most $150; $150 plus 1% over the second, at most $1,000), s.34.1.4 (the income); Parameters 2026 Table 3 (thresholds $18,500 / $64,355) | 2026-01-01 | 2026-10-03checked again each January |
| Quebec credit for interest paid on a student loan (TP-1 line 385, Schedule M): the rate on the interest, in place of the usual credit rate | 20% | Revenu Québec — Line 385, Interest paid on a student loan; KPMG, Quebec non-refundable tax credit rates and amounts for 2026 (interest paid on student loans, 20%) | 1998-01-01 | 2026-11-01checked again when the law changes, and every two years |
| Quebec deduction for workers: a share of employment and business income, up to a maximum | See the source | Taxation Act s.358.0.3 ("the lesser of $1,000 and 6% of the aggregate" of employment and business income); Parameters 2026 Table 3 (maximum $1,450) | 2026-01-01 | 2026-10-03checked again each January |
| RPP bridge benefit: a temporary supplement in an integrated defined-benefit pension paid until the first of the month after the 65th birthday (last payment in the birthday month), or earlier on a CPP/QPP disability pension; unchanged by taking CPP early or late; the amount is the plan's own formula and is supplied from the statement | See the source | National Association of Federal Retirees — "Bridge benefits and turning 65" (federal PSSA practice); OTPP "Bridge benefit and CPP" (ends the month after 65 or on CPP disability, unchanged by CPP start); OPB PSPP CPP integration | 1966-01-01 | 2026-09-18checked again each year |
| Saskatchewan Affordability Act steps: $500 added, after indexing, to the basic, spouse, eligible dependant, child and senior supplementary amounts in each of these years | See the source | The Income Tax Act, 2000 (SK) ss.11(3)(c)–(d), 12, 13, 19, 20(1.2): "for the 2027 taxation year: A = AP × (TCA + $500) … TCA is $20,381 and is adjusted in accordance with subsection 51(3); for the 2028 taxation year: … (TCA + $500) as determined in accordance with clause (c)" | 2027-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Saskatchewan age amount (65 or older at year end), less 15% of net income over the threshold | See the source | CRA TD1SK 2026, line 2: "$43,927 or less, enter $5,901 … a partial amount if … between $43,927 and $83,267" (5,901 / 39,340 = 15%) | 2026-01-01 | 2026-10-03checked again each January |
| Saskatchewan minimum tax: this share of the federal additional tax | 50% | The Income Tax Act, 2000 (SK) s.47(1): "an amount equal to 50% of the amount that would be determined pursuant to subsection 120.2(3) of the federal Act" | 2001-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Saskatchewan basic personal amount | $20,381 | The Income Tax Act, 2000 (SK) s.11(3)(b): "for the 2026 taxation year: A = AP × TCA … TCA is $20,381"; TD1SK 2026 line 1 | 2026-01-01 | 2026-10-03checked again each January |
| Saskatchewan personal income tax brackets and rates | See the source | CRA — 2026 provincial tax rates, Saskatchewan: "$0 to $54,532 at 10.5%, $54,532.01 to $155,805 at 12.5%, $155,805.01+ at 14.5%" | 2026-01-01 | 2026-10-03checked again each January |
| Saskatchewan dependent child amount, for each child under 18 at any time in the year; with a spouse, the parent with the lower net income claims it | $8,358 | The Income Tax Act, 2000 (SK) s.19: "I = AP × Y × QD where … Y is $8,358; and QD is the number of children"; TD1SK 2026 line 8 ("the parent with the lower net income must make the claim") | 2026-01-01 | 2026-10-03checked again each January |
| SK428 carries base CPP contributions and EI premiums as credits at the lowest Saskatchewan rate | No figure | The Income Tax Act, 2000 (SK) s.28 (EI and CPP contributions credit) | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Saskatchewan pension income amount | $1,000 | CRA TD1SK 2026, line 4: "enter whichever is less: $1000 or your estimated annual pension" | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Saskatchewan senior supplementary amount, for a resident 65 or older at year end (no income test) | $2,569 | The Income Tax Act, 2000 (SK) s.20(1.2)(b): "for the 2026 taxation year: J = AP × $2,569"; TD1SK 2026 line 3 | 2026-01-01 | 2026-10-03checked again each January |
| Saskatchewan spouse or eligible dependant amount, in full while the dependant's income is at or below the threshold | $20,381 | CRA TD1SK 2026, lines 6–7: "Enter $20,381 if … net income for the year will be $2,038 or less … a partial amount if … between $2,038 and $22,419" | 2026-01-01 | 2026-10-03checked again each January |
| Saskatchewan spouse or eligible dependant amount: nil at this dependant income | $22,419 | CRA TD1SK 2026, lines 6–7: "between $2,038 and $22,419" | 2026-01-01 | 2026-10-03checked again each January |
| Saskatchewan spouse or eligible dependant amount: reduced dollar for dollar by the dependant's income above this | $2,038 | CRA TD1SK 2026, lines 6–7: "$2,038 or less" | 2026-01-01 | 2026-10-03checked again each January |
| Refundable Quebec abatement: a share of federal tax otherwise payable deemed paid by a Quebec resident | 16.5% | Finance Canada — Quebec Abatement: "a reduction of 16.5 percentage points of federal personal income tax for all tax filers in Quebec … the sum of the 13.5 percentage points … under the Alternative Payments for Standing Programs plus an additional 3 percentage points … for the discontinued Youth Allowances Program" | 1977-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Federal age amount 2026 (line 30100): $9,208 for a filer 65+ at 31 December, reduced by 15% of net income over $46,432, nil at $107,819; credited at the lowest rate; indexed | See the source | CRA — Indexation adjustment for personal income tax and benefit amounts (2026); TD1 2026 line 3 | 2026-01-01 | 2026-09-15checked again each January |
| Age from which the age amount (line 30100) and pension-credit age tests apply: 65 or older at December 31 | 65 years | CRA — Line 30100 Age amount | 1988-01-01 | 2026-09-16checked again when the law changes, and every two years |
| AMT adjusted taxable income includes capital gains and allocated trust gains in full (the 38(a)/(b) fraction read as 1/1) | 100% | ITA 127.52(1)(d) | 2024-01-01 | 2026-09-18checked again when the law changes, and every two years |
| AMT allows only 1/2 of interest and counsel fees deducted under 20(1)(c)–(f) and (bb) to earn income from property; net capital losses of other years arising 2024+ are allowed at the regular amount (127.52(1)(i)(ii)) | 50% | ITA 127.52(1)(j)(ii); 127.52(1)(i)(ii)(B)(IV) | 2024-01-01 | 2026-09-18checked again when the law changes, and every two years |
| AMT adjusted taxable income takes dividends at the cash amount (82(1) read without paragraph (b)) | See the source | ITA 127.52(1)(f) | 2024-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Basic minimum tax credit: this share of the credits under 118(1),(2),(3),(10), 118.01–118.07, 118.3, 118.5–118.9 (donations at a higher share; the dividend tax credit is excluded) | 50% | ITA 127.531(a)–(d) | 2024-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Additional tax (minimum amount over regular tax before s.126) carries forward 7 years, deductible to the extent regular tax exceeds the minimum amount | 7 years | ITA 120.2(1), 120.2(3) | 1986-01-01 | 2026-09-18checked again when the law changes, and every two years |
| AMT basic exemption = the first dollar amount in 117(2)(d) (the fourth federal bracket threshold, $181,440 for 2026, indexed) | See the source | ITA 127.51 C(a); 117(2)(d); CRA 2026 bracket thresholds | 2024-01-01 | 2026-09-18checked again each January |
| Alternative minimum tax rate (2024 and later) | 20.5% | ITA 127.51 A(B − C) − D, A = 20.5% | 2024-01-01 | 2026-09-18checked again when the law changes, and every two years |
| AMT special foreign tax credit: the greater of the s.126 credits and the lesser of 2/3 of non-business foreign taxes and 20.5% × foreign income | See the source | ITA 127.54(1) "foreign taxes" (2/3 of non-business-income taxes), 127.54(2) | 2024-01-01 | 2026-09-18checked again when the law changes, and every two years |
| AMT special foreign tax credit: the share of non-business foreign tax counted | 66.67% | ITA 127.54(1) "foreign taxes" (2/3 of non-business-income taxes), 127.54(2) | 2024-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Credit rate applied to the federal BPA (lowest federal rate) | 14% | CRA — 2026 rates (14% lowest rate full-year) | 2026-01-01 | 2026-08-26checked again each January |
| Federal basic personal amount (maximum, before the phase-out) | $16,452 | TaxTips.ca 2026 federal credits · checked through other published sources | 2026-01-01 | 2026-08-26checked again each January |
| Federal basic personal amount (floor after the full phase-out) | $14,829 | TaxTips.ca 2026 federal credits · checked through other published sources | 2026-01-01 | 2026-08-26checked again each January |
| Federal BPA phase-out end (net income; floor applies at/above) | $258,482 | TaxTips.ca 2026 federal credits · checked through other published sources | 2026-01-01 | 2026-08-26checked again each January |
| Federal BPA phase-out start (net income) | $181,440 | TaxTips.ca 2026 federal credits · checked through other published sources | 2026-01-01 | 2026-08-26checked again each January |
| Federal personal brackets 2026 (14/20.5/26/29/33) | See the source | CRA — Canadian income tax rates for individuals (2026); thresholds indexed 2.0% | 2026-01-01 | 2026-08-26checked again each January |
| Canada caregiver add-on to the spouse or eligible-dependant amount when that person is infirm | $2,740 | CRA indexation table 2026 ("Canada caregiver amount for children under 18 / spouse / eligible dependant"); ITA 118(1)(a) C, (b) D | 2026-01-01 | 2026-09-18checked again each January |
| Canada Employment Amount (line 31260) — lesser of this and employment income, credited at the lowest rate | $1,501 | CRA — Adjustment of personal income tax and benefit amounts: Canada employment amount $1,501 (2026), $1,471 (2025) | 2026-01-01 | 2026-09-15checked again each January |
| Child care expense deduction: the annual amount for each other eligible child, one under 16 at some time in the year (fixed in the Act, not indexed) | $5,000 | ITA 63(1) and 63(3) "annual child care expense amount", "earned income", "eligible child" | 2015-01-01 | 2026-11-02checked again when the law changes, and every two years |
| Child care expense deduction: the annual amount for a child for whom the disability amount may be claimed (fixed in the Act, not indexed) | $11,000 | ITA 63(1) and 63(3) "annual child care expense amount", "earned income", "eligible child" | 2015-01-01 | 2026-11-02checked again when the law changes, and every two years |
| Child care expense deduction: at most this share of the claimant's earned income (pay, gratuities, net business income) | 66.67% | ITA 63(1) and 63(3) "annual child care expense amount", "earned income", "eligible child" | 2015-01-01 | 2026-11-02checked again when the law changes, and every two years |
| Child care expense deduction: an eligible child is under this age at some time in the year | 16 years | ITA 63(1) and 63(3) "annual child care expense amount", "earned income", "eligible child" | 2015-01-01 | 2026-11-02checked again when the law changes, and every two years |
| Child care expense deduction: the annual amount for each child under 7 at the end of the year (fixed in the Act, not indexed) | $8,000 | ITA 63(1) and 63(3) "annual child care expense amount", "earned income", "eligible child" | 2015-01-01 | 2026-11-02checked again when the law changes, and every two years |
| Non-capital losses (losses from business and property in excess of the year's s.3(c) income) may be deducted in computing taxable income for the 20 following years (line 25200); income for a year cannot be below nil (ITA 3(f)) | 20 years | ITA 111(1)(a), 111(8) "non-capital loss"; ITA 3(c)–(f) | 2006-01-01 | 2026-09-19checked again when the law changes, and every two years |
| Northern residents deduction (line 25500): $11 a day lived in a northern zone, and $11 more a day for maintaining and living in a home there (one claim a home), up to 20% of net income; deducted from taxable income | See the source | ITA s.110.7(1)(b): "the lesser of (i) 20% of the taxpayer's income for the year, and (ii) … the specified percentage … by the total of (A) $11.00 multiplied by the number of days in the year included in the qualifying period in which the taxpayer resided in the particular area, and (B) $11.00 multiplied by the number of days … throughout which the taxpayer maintained and resided in a self-contained domestic establishment in the particular area (except any day included in computing a deduction claimed under this paragraph by another person who resided on that day in the establishment)"; s.110.7(2)(a): the specified percentage for a prescribed northern zone is 100% | 2016-01-01 | 2026-10-04checked again when the law changes, and every two years |
| The three territories are a prescribed northern zone in full: every resident qualifies for the northern residents deduction | No figure | Income Tax Regulations s.7303.1(1): "An area is a prescribed northern zone for a taxation year for the purposes of section 110.7 of the Act where it is (a) the Yukon Territory, the Northwest Territories or Nunavut" | 1999-04-01 | 2026-10-04checked again when the law changes, and every two years |
| Base CPP contributions and EI premiums are non-refundable federal credits at the lowest rate (lines 30800, 31200) | No figure | CRA — Line 30800; ITA s.118.7 | 2026-01-01 | 2026-09-15checked again each January |
| Federal pension income amount (line 31400): lesser of this and eligible pension income (RRIF, RPP, RRSP annuity payments at 65+; not CPP, OAS, GIS or lump-sum RRSP withdrawals); not indexed | $2,000 | CRA — TD1 2026 Personal Tax Credits Return, line 4; ITA 118(3), (7) | 2006-01-01 | 2026-09-15checked again each January |
| Eligible pension income for splitting: transferor 65+ at year end — RPP life annuity, RRIF/LIF payments, RRSP annuity, other annuities; under 65 — RPP life annuity only (or amounts received on a spouse's death). Never CPP/QPP, OAS, GIS. Spouses resident in Canada at year end and not living apart 90+ days from breakdown | See the source | CRA — Pension income splitting (eligibility); ITA 60.03, 118(7) | 2007-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Pension income splitting: the most of the transferring spouse's eligible pension income that may be allocated by joint election (T1032); withholding is allocated in the same proportion | 50% | CRA — Pension income splitting; ITA s.60.03 "split-pension amount" | 2007-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Federal spouse or common-law partner amount (ITA 118(1)(a); tracks the BPA, reduced dollar-for-dollar by the spouse's net income) | $16,452 | ITA 118(1)(a) for the C + C.01 - C.1 formula; 2026 dollar amount from TaxTips 2026 non-refundable credits · checked through other published sources | 2026-01-01 | 2026-09-06checked again each January |
| Federal spouse or eligible-dependant amount: the claimant's basic personal amount minus the dependant's net income (plus the caregiver add-on if infirm), floored at nil; one claim per person, never both 118(1)(a) and (b) | See the source | ITA 118(1)(a)–(b) | 2020-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Federal credit for interest paid on a government student loan: the appropriate percentage (the lowest federal rate, 14% for 2026) of the interest paid by or for the borrower on a loan under the Canada Student Loans Act, the Canada Student Financial Assistance Act, the Apprentice Loans Act or a provincial student-aid law; no maximum; not for loans combined or renegotiated with other debt, bank loans or lines of credit; applied after the tuition credits | See the source | ITA 118.62 (A × B, A the appropriate percentage); 118.92 (order); CRA, Line 31900 – Interest paid on your student loans | 1998-01-01 | 2026-10-13checked again when the law changes, and every two years |
| Student-loan interest not claimed in the year it is paid can be claimed in any of this many following years | 5 years | ITA 118.62: "interest paid in the year (or in any of the five preceding taxation years that are after 1997, to the extent that it was not included in computing a deduction under this section for any other taxation year)" | 1998-01-01 | 2026-11-02checked again when the law changes, and every two years |
| Provincial and territorial credit for the same student-loan interest (line 58520 of every Form 428 outside Quebec), at the province's non-refundable credit rate | See the source | CRA, Line 31900: "claim … on the Form 428 for the province or territory where you lived at the end of the year, on line 58520"; ON428, AB428, BC428, YT428 (2025) line 58520 "Interest paid on your student loans (amount from line 31900 of your return)" | 1998-01-01 | 2026-10-13checked again when the law changes, and every two years |
| Unused tuition credit carries forward indefinitely and is used after the personal credits (118.61(1) C) | See the source | ITA 118.61(1)–(2) | 1997-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Tuition fees to an institution count only if they exceed this for the year | $100 | ITA 118.5(1)(a)(ii.1)/(b)–(c) ("if those fees exceed $100") | 1997-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Federal tuition credit: the "appropriate percentage" (the lowest federal rate, 14% for 2026) of eligible tuition fees; education and textbook amounts ended 2017 | See the source | ITA 118.5(1)(a); 248(1) "appropriate percentage" | 2017-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Tuition transferred to a spouse or (grand)parent: the lesser of the lowest federal rate × this minus the part the student used, and the amount designated; only the current year's credit, never carryforwards | $5,000 | ITA 118.81(a) D = $5,000; 118.8; 118.9 | 2017-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Yukon minimum tax: this share of the federal additional tax, and of the federal carryover | 43.9% | Income Tax Act (YT) s.6(50): "A/B × C" where A is the 9% Yukon rate, B the federal rate under 127.51 (20.5%) and C the federal additional tax; s.6(38): the carryover by the same quotient | 2024-01-01 | 2026-10-04checked again when the law changes, and every two years |
| Yukon personal income tax brackets and rates: the first three edges are the federal ones, the fourth a fixed $500,000 | See the source | Income Tax Act (YT) s.6(2): "the amount that would be determined under subsection 117(2) of the federal Act … if (a) the percentages referred to in paragraphs 117(2)(a) to (e) of the federal Act were replaced with (i) 6.40% … (ii) 9.00% … (iii) 10.90% … (iv) 12.80% … and (v) 15.00% … and (b) the dollar amount in paragraph 117(2)(e) and the corresponding dollar amount in paragraph 117(2)(d) were each replaced with the maximum business limit in subsection 125(2) of the federal Act" ($500,000); CRA T4127 (January 2026), Table 8.1 Yukon: 6.4% to $58,523; 9% to $117,045; 10.9% to $181,440; 12.8% to $500,000; 15% above | 2026-01-01 | 2026-10-04checked again each January |
| Yukon credits are the federal credit amounts (basic, spouse, eligible dependant, age, pension, Canada employment, CPP and EI) at the lowest Yukon rate | No figure | Income Tax Act (YT) s.6(9), (12), (15)–(16): the amounts in paragraphs 118(1)(a)–(d) of the federal Act, the basic amount with its federal reduction for income over the fourth-bracket threshold; s.6(26): 118(3); s.6(29): 118(2), 118(10), 118.3; s.6(36): 118.7; each at the "appropriate percentage" of 6.4%; T4127 (January 2026): "BPAYT = BPAF" | 2026-01-01 | 2026-10-04checked again when the law changes, and every two years |
Investment income
60 rules · 1 not yet checked
Dividend gross-up and credits, the capital-gains inclusion rate, adjusted cost base, superficial losses, foreign withholding and the foreign tax credit.
| What it is | Value | Source | Effective | Last checked |
|---|---|---|---|---|
| Alberta dividend tax credit on eligible dividends, as a share of the grossed-up dividend | 8.12% | Alberta Personal Income Tax Act s.21(c)(ii): ITA 121(b) read with "227/770" of the gross-up, which is 8.12% of the grossed-up eligible dividend | 2021-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Alberta dividend tax credit on other than eligible dividends, as a share of the grossed-up dividend | 2.18% | Alberta Personal Income Tax Act s.21(c)(i): ITA 121(a) read with "149/890" of the gross-up, which is 2.18% of the grossed-up dividend | 2021-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Alberta foreign tax credit (T2036): foreign non-business tax beyond the federal credit, up to the foreign share of Alberta tax | No figure | Alberta Personal Income Tax Act s.23 (foreign tax credit) | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| British Columbia dividend tax credit on eligible dividends, as a share of the taxable (grossed-up) dividend | 12% | gov.bc.ca — 2026 dividend tax credit: "eligible dividends 12%"; ITA (BC) s.4.69(b): 43 11/19% of the gross-up | 2019-01-01 | 2026-10-03checked again when the law changes, and every two years |
| British Columbia dividend tax credit on other than eligible dividends, as a share of the taxable (grossed-up) dividend | 1.96% | gov.bc.ca — 2026 dividend tax credit: "other than eligible dividends 1.96%"; ITA (BC) s.4.69(a): 15% of the gross-up | 2019-01-01 | 2026-10-03checked again when the law changes, and every two years |
| British Columbia foreign tax credit (T2036): foreign non-business tax beyond the federal credit, up to the foreign share of BC tax | No figure | gov.bc.ca — Foreign tax credit: "complete the Provincial or Territorial Foreign Tax Credit form (T2036) and enter the amount … on … BC428" | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| ACB is never below nil; the shortfall is a deemed capital gain and the ACB resets to nil | See the source | ITA 40(3); s.54 "adjusted cost base" ("in no case shall the adjusted cost base... be less than nil"); T4037 Schedule 3 deemed gain | 1972-01-01 | 2026-09-18checked again when the law changes, and every two years |
| A reinvested distribution is taxable income by character and is added to the ACB of the units received | See the source | Guide T4037, mutual funds — reinvested distributions ("the amount is added to your ACB") | 1972-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Return of capital from a trust or fund (T3 box 42) reduces the ACB of the units | See the source | ITA 53(2)(h)(i.1) ("any amount that has become payable to the taxpayer by the trust... otherwise than as proceeds of disposition") | 1988-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Net capital loss carries back three years and forward indefinitely, limited to the year's taxable capital gains; older losses first | 3 years | ITA 111(1)(b) ("the 3 taxation years immediately following the year"), 111(1.1), 111(3); Form T1A | 1972-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Distribution characters supplied from T3/T5 boxes: eligible (T3 49/T5 24), other dividends (T3 23/T5 10), interest and other income (T3 26/T5 13, line 12100), allocated capital gains (T3 21), foreign non-business income gross of withholding (T3 25/T5 15) and tax paid (T3 34/T5 16), return of capital (T3 42) | See the source | CRA line 12100 ("Do not subtract the foreign taxes from your income when you report it"); Guide T4013 T3 slip boxes; Guide T4015 T5 boxes | 2026-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Investment counsel and management fees are deductible in computing income (line 22100); commissions are excluded and stay in ACB / proceeds | See the source | ITA 20(1)(bb) ("advising others as to the advisability of purchasing or selling specific shares or securities... other than a commission") | 1972-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Default treaty withholding on foreign dividends (the US treaty rate; varies by country) | 15% | TaxTips — foreign withholding; FTC-recoverable in non-registered accounts only | 2026-01-01 | 2026-08-26checked again each year |
| Partial repurchase: denied loss = loss × min(units sold, units acquired in the window, units held at the end) ÷ units sold — CRA administrative practice, not statutory text | See the source | Guide T4037 ch.5 superficial loss example; archived IT-387R2 ¶3 · not yet checked against the source | 1972-01-01 | not yetchecked again when the law changes, and every two years |
| Superficial loss: loss denied where the taxpayer or an affiliated person (spouse, controlled corporation, own RRSP/TFSA/RRIF) acquires identical property within 30 days before or after and holds it at day 61; the denied amount is added to the ACB of the substituted property | See the source | ITA 54 "superficial loss"; 40(2)(g)(i); 53(1)(f); 251.1; T4037 ch.5 | 1972-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Manitoba dividend tax credit on eligible dividends, as a share of the grossed-up dividend | 8% | The Income Tax Act (Manitoba) s.4.7(1)(b)(ii): "8% of the total of the amounts included … under paragraph 82(1)(a.1) (eligible dividends) and subparagraph 82(1)(b)(ii) (eligible dividends gross-up)" | 2012-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Manitoba dividend tax credit on other than eligible dividends, as a share of the grossed-up dividend | 0.78% | The Income Tax Act (Manitoba) s.4.7(1)(b)(i.2): "0.7835% of the total amount included … in respect of a taxable dividend for which the federal dividend gross-up rate is 17% or lower" | 2019-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Manitoba foreign tax credit (T2036): foreign non-business tax beyond the federal credit, up to the foreign share of Manitoba tax | No figure | The Income Tax Act (Manitoba) s.4.9 (foreign tax credit) | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| New Brunswick dividend credit on eligible dividends, as a share of the grossed-up dividend | 14% | New Brunswick Income Tax Act s.35(i)(ii): "for the 2019 taxation year and subsequent taxation years … the fraction that yields a New Brunswick dividend tax credit rate of 14%" | 2019-01-01 | 2026-10-03checked again when the law changes, and every two years |
| New Brunswick dividend credit on other than eligible dividends, as a share of the grossed-up dividend | 2.75% | New Brunswick Income Tax Act s.35(i)(i): "for the 2019 taxation year and subsequent taxation years … the fraction that yields a New Brunswick dividend tax credit rate of 2.75%" | 2019-01-01 | 2026-10-03checked again when the law changes, and every two years |
| New Brunswick foreign tax credit (T2036): foreign non-business tax beyond the federal credit, up to the foreign share of New Brunswick tax | No figure | New Brunswick Income Tax Act s.49(1) (foreign tax deduction) | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Newfoundland and Labrador dividend credit on eligible dividends, as a share of the grossed-up dividend | 6.3% | Income Tax Act, 2000 (NL) s.20(b): "6.3% of the total of the amount required under paragraph 82(1)(a.1) and subparagraph 82(1)(b)(ii) of the federal Act" | 2021-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Newfoundland and Labrador dividend credit on other than eligible dividends, as a share of the grossed-up dividend | 3.2% | Income Tax Act, 2000 (NL) s.20(a): "3.2% of the total of the amount required under paragraph 82(1)(a) and subparagraph 82(1)(b)(i) of the federal Act" | 2016-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Newfoundland and Labrador foreign tax credit (T2036): foreign non-business tax beyond the federal credit, up to the foreign share of Newfoundland and Labrador tax | No figure | Income Tax Act, 2000 (NL) s.33 (foreign tax deduction) | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Nova Scotia dividend credit on eligible dividends, as a share of the grossed-up dividend | 8.85% | Income Tax Act (NS) s.21(b): "8.85% of the total of the amount required under paragraph 82(1)(a.1) and subparagraph 82(1)(b)(ii) of the Federal Act" | 2015-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Nova Scotia dividend credit on other than eligible dividends, as a share of the grossed-up dividend | 1.5% | Income Tax Act (NS) s.21(a): "1.5% of the total of the amount required under paragraph 82(1)(a) and subparagraph 82(1)(b)(i) of the Federal Act … for taxation years after December 31, 2024" | 2025-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Nova Scotia foreign tax credit (T2036): foreign non-business tax beyond the federal credit, up to the foreign share of Nova Scotia tax | No figure | Income Tax Act (NS) s.34(1) (foreign tax deduction) | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Northwest Territories dividend credit on eligible dividends, as a share of the grossed-up dividend | 11.5% | Income Tax Act (NT) s.2.32(b): "11.5% of the total amount required under paragraph 82(1)(a.1) and subparagraph 82(1)(b)(ii) of the federal Act to be included in computing the individual's income for the year" | 2011-01-01 | 2026-10-04checked again when the law changes, and every two years |
| Northwest Territories dividend credit on other than eligible dividends, as a share of the grossed-up dividend | 6% | Income Tax Act (NT) s.2.32(a): "6% of the total amount required under paragraph 82(1)(a) and subparagraph 82(1)(b)(i) of the federal Act to be included in computing the individual's income for the year" | 2011-01-01 | 2026-10-04checked again when the law changes, and every two years |
| Northwest Territories foreign tax credit (T2036): foreign non-business tax beyond the federal credit, up to the foreign share of territorial tax | No figure | Income Tax Act (NT) s.3(1) (deduction on account of foreign tax paid) | 2026-01-01 | 2026-10-04checked again when the law changes, and every two years |
| Nunavut dividend credit on eligible dividends, as a share of the grossed-up dividend | 5.51% | Income Tax Act (Nu) s.2.32(1): "Section 121 of the federal Act applies for the purposes of this Act, except that the amounts referred to in that section are multiplied by 20% instead of by the fractions referred to in that section" — 20% of the 38% gross-up | 2019-01-01 | 2026-10-04checked again when the law changes, and every two years |
| Nunavut dividend credit on other than eligible dividends, as a share of the grossed-up dividend | 2.61% | Income Tax Act (Nu) s.2.32(1): the amounts in section 121 of the federal Act "multiplied by 20%" — 20% of the 15% gross-up | 2019-01-01 | 2026-10-04checked again when the law changes, and every two years |
| Nunavut foreign tax credit (T2036): foreign non-business tax beyond the federal credit, up to the foreign share of territorial tax | No figure | Income Tax Act (Nu) s.3(1) (deduction on account of foreign tax paid) | 2026-01-01 | 2026-10-04checked again when the law changes, and every two years |
| Ontario dividend tax credit on eligible dividends, as a fraction of the grossed-up (taxable) amount | 10% | Ontario dividend tax credit — rate table row "2020-2026... eligible dividends 10.0%" | 2020-01-01 | 2026-08-26checked again when the law changes, and every two years |
| Ontario dividend tax credit on other (non-eligible) Canadian dividends, as a fraction of the grossed-up amount | 2.99%, then 1.99% from 2027-01-01 | Ontario dividend tax credit — rate table row "2020-2026... other Canadian dividends 2.9863%" | 2020-01-01 | 2026-08-26checked again when the law changes, and every two years |
| Ontario foreign tax credit: lesser of (foreign non-business tax − federal credit) and net foreign non-business income ÷ net income × Ontario tax otherwise payable (ON428 line 81 with lines 70 and 72 at zero); applied at line 82 after the tax reduction, before LIFT | See the source | Form T2036 (2025) lines 1–5 and note (4) Ontario; Form ON428 (2025) lines 70–83 | 2025-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Prince Edward Island dividend credit on eligible dividends, as a share of the grossed-up dividend | 10.5% | Income Tax Act (PE) s.20: "38.13% of any amount required by subparagraph 82(1)(b)(ii) of the Federal Act to be included in computing the individual's income" — 38.13% of the 38% gross-up, 10.5% of the grossed-up dividend | 2021-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Prince Edward Island dividend credit on other than eligible dividends, as a share of the grossed-up dividend | 1.3% | Income Tax Act (PE) s.20: "an amount equal to 10% of any amount required by subparagraph 82(1)(b)(i) of the Federal Act to be included in computing the individual's income for the year" — 10% of the 15% gross-up, 1.3043% of the grossed-up dividend | 2021-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Prince Edward Island foreign tax credit (T2036): foreign non-business tax beyond the federal credit, up to the foreign share of Prince Edward Island tax | No figure | Income Tax Act (PE) s.34 (foreign tax deduction) | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Quebec dividend tax credit on eligible dividends, as a share of the grossed-up dividend | 11.7% | Taxation Act s.767(b)(iii): 16.146/38 of the gross-up (38%) for years after 2019, which is 11.70% of the grossed-up dividend | 2020-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Quebec dividend tax credit on non-eligible dividends, as a share of the grossed-up dividend | 3.42% | Taxation Act s.767(a)(v): 3.933/15 of the gross-up (15%) for years after 2021, which is 3.42% of the grossed-up dividend | 2022-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Quebec foreign tax credit: foreign non-business tax beyond the federal credit, up to the foreign share of Quebec tax | No figure | Taxation Act s.772.6 (the foreign tax less the federal s.126(1) deduction), s.772.7 (at most the proportion of Quebec tax otherwise payable that foreign income is of income) | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Saskatchewan dividend credit on eligible dividends, as a share of the grossed-up dividend | 11% | The Income Tax Act, 2000 (SK) s.32(h)(ii): "39.95% of any amount required by subparagraph 82(1)(b)(ii)" (the 38% gross-up), which is 11% of the grossed-up dividend | 2024-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Saskatchewan dividend credit on other than eligible dividends, as a share of the grossed-up dividend | 2.52% | The Income Tax Act, 2000 (SK) s.32(h)(i): "19.312% of any amount required by subparagraph 82(1)(b)(i)" (the 15% gross-up), which is 2.519% of the grossed-up dividend | 2024-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Saskatchewan foreign tax credit (T2036): foreign non-business tax beyond the federal credit, up to the foreign share of Saskatchewan tax | No figure | The Income Tax Act, 2000 (SK) s.36 (foreign tax credit) | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| ACB = purchase price + expenses to acquire (commissions, legal fees) + land transfer tax; capital improvements add, current expenses do not | No figure | CRA Guide T4037 ACB definition; land transfer tax per https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/rental-income/rental-expenses-you-cannot-deduct.html | 2025-01-01 | 2026-07-05checked again when the law changes, and every two years |
| Capital gains inclusion rate (individuals) | 50% | CRA Guide T4037, Capital Gains 2025 ("The inclusion rate for 2025 is 50%"; 2/3 proposal cancelled per PM release 2025-03-21) | 2001-01-01 | 2026-07-05checked again when the law changes, and every two years |
| Capital gain = proceeds of disposition minus ACB and outlays and expenses incurred to sell (commissions, legal fees) | No figure | CRA Guide T4037, Capital Gains — calculating your capital gain or loss | 2025-01-01 | 2026-07-05checked again when the law changes, and every two years |
| Federal dividend tax credit on eligible dividends, as a fraction of the grossed-up (taxable) amount | 15.02% | CRA Line 40425 — Federal dividend tax credit ("multiply the taxable amount... on line 12000... by 15.0198%") | 2019-01-01 | 2026-08-26checked again when the law changes, and every two years |
| Federal dividend tax credit on non-eligible dividends, as a fraction of the grossed-up (taxable) amount | 9.03% | CRA Line 40425 — Federal dividend tax credit ("multiply the taxable amount... on line 12010... by 9.0301%") | 2019-01-01 | 2026-08-26checked again when the law changes, and every two years |
| Eligible dividend gross-up factor (added to cash dividend for taxable income) | 38% | Income Tax Act s.82(1)(b); corroborated TaxTips line 12000 | 2006-01-01 | 2026-08-26checked again when the law changes, and every two years |
| Non-eligible dividend gross-up factor | 15% | Income Tax Act s.82(1)(b); corroborated TaxTips line 12010 | 2018-01-01 | 2026-08-26checked again when the law changes, and every two years |
| Federal non-business foreign tax credit per country: lesser of foreign tax paid and net foreign non-business income ÷ net income × basic federal tax, where basic federal tax = line 42900 PLUS the federal dividend tax credit and net income = line 23600 minus net capital losses of other years claimed | See the source | Form T2209 (2025) line 2 and notes (2)–(4); ITA 126(1); Folio S5-F2-C1 ¶1.3, ¶1.74 | 2025-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Unused non-business foreign tax credit cannot be carried to another year | See the source | Income Tax Folio S5-F2-C1 ¶1.24 | 1972-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Foreign tax creditable on income from property (other than real property) is capped at this share of that income; the excess is deductible from income under 20(11) (line 23200) | 15% | ITA 20(11); 126(7) "non-business-income tax" excludes 20(11)/(12) amounts; T2209 note ("cannot be more than 15% of your net income from that property"); S5-F2-C1 ¶1.22 | 1972-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Canada–US Convention: most withheld on portfolio dividends (Art. X(2)(b)); RRSP/RRIF-type trusts exempt (Art. XXI(2)), TFSAs not. Reference only — withholding is a supplied fact | 15% | Convention between Canada and the United States, Art. X(2)(b), Art. XXI(2) | 1985-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Outlays and expenses of disposition reduce the gain: fixing-up expenses, finders' fees, commissions, brokers' fees, surveyors' fees, legal fees, transfer taxes, advertising; a mortgage prepayment penalty paid to make the sale is taken into account under 40(1) (IT-104R3) | No figure | Guide T4037 Capital Gains 2025 — Definitions | 1972-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Yukon dividend credit on eligible dividends, as a share of the grossed-up dividend | 12.02% | Income Tax Act (YT) s.6(39): a formula from the Yukon general corporate rate of 12% (s.10(1)(b)), the top personal rate of 15%, the federal gross-up and the federal net corporate rate; Worksheet YT428 (2025), line 12: "12.02%" | 2026-01-01 | 2026-10-04checked again when the law changes, and every two years |
| Yukon dividend credit on other than eligible dividends, as a share of the grossed-up dividend | 0.67% | Income Tax Act (YT) s.6(39): the same formula with the Yukon small business rate of 0% (s.10(1)(a)); Worksheet YT428 (2025), line 10: "0.67%" | 2026-01-01 | 2026-10-04checked again when the law changes, and every two years |
| Yukon foreign tax credit (T2036): foreign non-business tax beyond the federal credit, up to the foreign share of Yukon tax | No figure | Income Tax Act (YT) s.6(54): "there may be deducted in computing the individual's tax payable under this Part for the year the lesser of (a) the amount, if any, by which any non-business income tax paid by the individual for the year to the government of a country other than Canada exceeds … the amount deductible under subsection 126(1)" | 2026-01-01 | 2026-10-04checked again when the law changes, and every two years |
Registered accounts and grants
52 rules
TFSA, RRSP, FHSA and RESP limits, the Home Buyers' and Lifelong Learning plans, the education savings grant and learning bond, withholding on withdrawals.
| What it is | Value | Source | Effective | Last checked |
|---|---|---|---|---|
| Quebec income tax withheld on a single payment from an RRSP, or on the part of a RRIF payment above the minimum: 14%; on a taxable payment out of an FHSA: 14% up to $5,000, 19% above. Added to the federal 5/10/15% | See the source | Revenu Québec, Payments From an RRSP, a VRSP, a PRPP or a RRIF; Payment Out of an FHSA | 2023-01-01 | 2026-11-02checked again when the law changes, and every two years |
| FHSA contributions are deductible from income for the contribution year or a future year (RRSP-like); lifetime deduction maximum $40,000; unclaimed deductions carry forward indefinitely; transfers in from an RRSP are NOT deductible | See the source | CRA — Tax deductions for FHSA contributions · checked through other published sources | 2023-04-01 | 2026-08-30checked again when the law changes, and every two years |
| FHSA: $8,000 annual limit; $40,000 lifetime; unused room carries forward ONE year only (max $16,000 in a single year); non-qualifying withdrawal = ordinary income with RRSP-style withholding; qualifying-home closing deadline = end of year following first withdrawal | See the source | CRA — First Home Savings Account · checked through other published sources | 2023-04-01 | 2026-08-26checked again when the law changes, and every two years |
| FHSA maximum participation period ends Dec 31 of the year of the EARLIEST of: 15th anniversary of opening the first FHSA; turning 71; the year following the first qualifying withdrawal. Property left at period end loses FHSA status and its fair market value becomes taxable income unless directly transferred | See the source | CRA — Withdrawals and transfers out of your FHSAs | 2023-04-01 | 2026-08-26checked again when the law changes, and every two years |
| Unused FHSA property may be transferred directly to an RRSP or RRIF (Form RC721) on a tax-deferred basis; the transfer does not use RRSP deduction room and does not reduce it | See the source | CRA — Withdrawals and transfers out of your FHSAs (worked example: "no tax consequences and there will be no impact on his unused RRSP deduction room") | 2023-04-01 | 2026-08-26checked again when the law changes, and every two years |
| Direct RRSP → FHSA transfer: no income, no deduction, counts against FHSA participation (annual limit $8,000 + carryforward − net RRSP-to-FHSA transfers) and the $40,000 lifetime deduction | See the source | ITA 146(16)(a.2); 146.6(1) "annual FHSA limit" (b) E − F; 146.6(5)(b)(ii) | 2023-04-01 | 2026-09-18checked again when the law changes, and every two years |
| Direct FHSA → RRSP/RRIF (or another FHSA) of the same individual: no income, no deduction, no RRSP room used; limited to FMV less any excess FHSA amount | See the source | ITA 146.6(7)(b)(ii), 146.6(8) ("no deduction may be made... in respect of the amount"); 146.6(9) taxable transfer otherwise | 2023-04-01 | 2026-09-18checked again when the law changes, and every two years |
| RRSP contributions withdrawn as an HBP eligible amount less than 90 days after they were paid are not deductible (ITA 146(5)(a)(iv.1)); the attribution order is earnings first, then premiums in the order paid, so an established balance absorbs a fresh contribution before it becomes the withdrawn dollar | No figure | Income Tax Act s. 146(5)(a)(iv.1) | 1994-01-01 | 2026-08-31checked again when the law changes, and every two years |
| Home Buyers' Plan and Lifelong Learning Plan after the year the participant turns 71: a repayment must be paid to an RRSP under which the participant is the annuitant (146.01(3), 146.02(3)), and the RRSP matures by the end of that year (146(2)(b.4)), so no later repayment can be designated; the annual inclusion formula has no age test, so each later year's scheduled amount ((A - B - C) / (15 - D), or / (10 - D) for the LLP) is included in income and the balance falls by it, until the schedule ends; nothing is included all at once | No figure | Income Tax Act s. 146.01(3), (4), 146.02(3), (4) and 146(2)(b.4); CRA — The HBP participant reaches the age of 71 ("You will not be able to repay any funds you withdrew from your RRSP after the end of the year you reach the age of 71") | 2007-01-01 | 2026-10-14checked again when the law changes, and every two years |
| Home Buyers' Plan eligibility: no owner-occupied principal residence from the start of the fourth preceding calendar year to the 31st day before withdrawal (same test applied to a spouse for a home the individual inhabited); a written agreement to acquire or build must predate the withdrawal; the home must not have been acquired more than 30 days before it; and it must be acquired before 1 October of the following calendar year (the "completion date") | See the source | Income Tax Act s. 146.01(1) definitions and 146.01(2), (2.1) | 2024-04-17 | 2026-08-31checked again when the law changes, and every two years |
| Home Buyers' Plan: the RRSP withdrawal per person per calendar year excluded from income (ITA 146.01(1) "regular eligible amount" (h)); the HBP balance must be nil at 1 January of the withdrawal year (paragraph (i)); raised for withdrawals after 16 April 2024 | $60,000 | Income Tax Act s. 146.01 | 2024-04-17 | 2026-08-31checked again when the law changes, and every two years |
| Home Buyers' Plan withdrawals exist from 1992; an opening balance cannot predate it | 1992 | Income Tax Act s.146.01 | 1992-02-26 | 2026-09-16checked again when the law changes, and every two years |
| Home Buyers' Plan repayment: income inclusion for a year is [(A - B - C) / (15 - D)] - E, so the minimum annual repayment is the outstanding balance divided by (15 - D) where D is the lesser of 14 and the years elapsed since the clock started; repaying less than the minimum adds the shortfall to income and reduces the balance anyway; a designated repayment is not deductible and consumes no RRSP room, and amounts transferred directly from an FHSA, RRSP, RPP, RRIF or DPSP are excluded premiums that cannot be designated | 15 years | Income Tax Act s. 146.01(3), (4) | 1994-01-01 | 2026-08-31checked again when the law changes, and every two years |
| Home Buyers' Plan temporary repayment relief: where the completion date falls after 2022 and before 2030 — withdrawal years 2022 through 2028 — the repayment clock starts on 1 January of the fifth year after the withdrawal instead of the second (ITA 146.01(4.1) reads 'first calendar year' in D as 'fourth', and 146.01(4.2) nils the inclusion for up to three further years) | See the source | Income Tax Act s. 146.01(4.1), (4.2) | 2024-06-20 | 2026-08-31checked again when the law changes, and every two years |
| HBP and FHSA qualifying withdrawals require intending to occupy the home as the principal place of residence within one year; a cottage kept alongside the principal home never qualifies (an FHSA withdrawal for one is taxable) | No figure | CRA — Withdrawals from your FHSAs ("You must occupy or intend to occupy the qualifying home as your principal place of residence" … "within one year after buying or building it"); CRA — How to participate in the HBP | 2023-04-01 | 2026-10-09checked again when the law changes, and every two years |
| Lifelong Learning Plan: up to $10,000 per calendar year and $20,000 total per participation; repaid over 10 years in equal minimums (1/10 of the balance), starting the earlier of the 5th year after the first withdrawal or the 2nd year after the last year the student was enrolled full time; LLP withdrawals possible since 1999 | See the source | CRA Guide RC4112, Lifelong Learning Plan | 1999-01-01 | 2026-09-16checked again when the law changes, and every two years |
| LLP repayment period starts at the beginning of the 3rd/4th/5th year of the participation period when the designated person was not a qualifying student (≥ 3 months) in each of the two preceding years, otherwise the sixth calendar year; ten equal repayments; shortfall is income | See the source | ITA 146.02(1) "repayment period" (a)(i)–(iv), "eligible amount" (c)–(f), 146.02(3)–(4) | 1999-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Part X.5 tax on accumulated income payments: (A + B − C) × this rate (lower in Quebec), C = the lesser of RRSP deductions claimed under 146(5)/(5.1) in the year (up to the AIP) and the unused part of the lifetime rollover relief | 20% | ITA 204.94(2) ("D is... in any other case, 20%") | 1998-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Accumulated income payment: to a resident subscriber, not jointly, and (A) after the 9th year following the year the plan was entered into with every beneficiary 21+ and not EAP-eligible, or (B) in the mandatory termination year (35th year after), or (C) every beneficiary deceased; the plan terminates before March of the following year | See the source | ITA 146.1(2)(d.1)(i)–(iii), 146.1(2)(i), (i.1); 146.1(7.1) | 1998-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Lifetime RRSP rollover relief for accumulated income payments, per subscriber | $50,000 | ITA 204.94(2) C(b) ("the amount, if any, by which $50,000 exceeds the total...") | 1998-01-01 | 2026-09-18checked again when the law changes, and every two years |
| RESP brief: CESG 20% match up to $500/yr per child ($7,200 lifetime), lifetime contribution limit $50,000; EAP taxable to student, PSE (contributions) returned tax-free | See the source | CRA — Registered Education Savings Plans | 2007-01-01 | 2026-08-26checked again when the law changes, and every two years |
| Additional CESG: an extra 10% or 20% on the first $500 contributed each year, by the primary caregiver's adjusted income bracket (brackets indexed annually; 2026 per ESDC Notice 1114); does not carry forward | See the source | ESDC Notice 1114 — 2026 Additional CESG income brackets | 2026-01-01 | 2026-09-16checked again each January |
| CESG is payable in the years the beneficiary turns 16 or 17 only if, before the year they turned 16, either at least $2,000 was contributed and not withdrawn, or at least $100 a year was contributed in any four years | See the source | ESDC — Estimating amounts: CESG for children aged 16 or 17 | 1998-01-01 | 2026-09-16checked again when the law changes, and every two years |
| CESG basic annual maximum per beneficiary (the match on the eligible contribution) | $500 | Canada Education Savings Act s.5; $1,000 annual ceiling covers one carried-forward year | 2007-01-01 | 2026-08-27checked again when the law changes, and every two years |
| CESG annual maximum payable including one year of carried-forward room | $1,000 | Canada Education Savings Act s.5 ("the lesser of $1,000") | 2007-01-01 | 2026-08-27checked again when the law changes, and every two years |
| Contributions each year that basic CESG matches, plus carried-forward grant room up to the annual maximum with carry-forward | $2,500 | Canada Education Savings Act s.5 | 2007-01-01 | 2026-09-16checked again when the law changes, and every two years |
| Last age at which CESG is payable — the calendar year of the beneficiary's 17th birthday (ages 16-17 carry extra conditions, not modelled) | 17 years | Canada Education Savings Act s.5 with ESDC administrative age rules · checked through other published sources | 2007-01-01 | 2026-08-27checked again when the law changes, and every two years |
| CESG lifetime maximum per beneficiary | $7,200 | Canada Education Savings Act s.5 ("Not more than $7,200... during their lifetime") | 1998-01-01 | 2026-08-27checked again when the law changes, and every two years |
| Canada Education Savings Grant basic matching rate on RESP contributions | 20% | Canada Education Savings Act s.5 ("20% of the contribution") | 1998-01-01 | 2026-08-27checked again when the law changes, and every two years |
| Canada Learning Bond: $500 for the first eligible benefit year (under 15 at the start of the month before the benefit year), $100 for each later eligible benefit year, lifetime $2,000; beneficiary born after 2003 and under 21 at application | See the source | Canada Education Savings Act s.6(1), 6(2)(a)–(b) | 2004-01-01 | 2026-09-18checked again when the law changes, and every two years |
| CLB eligibility is a supplied fact per July–June benefit year, never read off a calendar-year income; the statutory test is the caregiver's CCB adjusted income against the first threshold (6(2)(a)(i)(A), 6(2.1) for more than three dependants) | See the source | CESA 6(2)(a)(i), 6(2.1); CESA s.2 "benefit year" | 2026-09-18 | 2026-09-18checked again when the law changes, and every two years |
| EAP components: CLB part = A × CLB balance ÷ C; CESG part = lesser of A × grant balance ÷ C and $7,200 less CESG previously paid in EAPs to the beneficiary; income part = A × accumulated income ÷ C; C = income + (resident) CLB + (resident, under $7,200) grant; grant and CLB parts nil for a non-resident | See the source | Canada Education Savings Regulations s.10(1)–(3) | 2005-07-01 | 2026-09-18checked again when the law changes, and every two years |
| Educational assistance payments (grants + growth) are included in the STUDENT's income, not the subscriber's; contributions come back tax-free | No figure | Income Tax Act s.146.1(7) | 1998-01-01 | 2026-08-27checked again when the law changes, and every two years |
| RESP lifetime contribution limit per beneficiary | $50,000 | Income Tax Act s.204.9(1), definition "RESP lifetime limit for a year" | 2007-01-01 | 2026-08-27checked again when the law changes, and every two years |
| An individual RESP may accept contributions until the end of the 31st year after the year it was opened and must terminate by the end of the 35th year (ITA 146.1(2)(h)–(i)); RESPs have existed since 1972 | See the source | CRA Guide RC4092, Registered Education Savings Plans | 2008-01-01 | 2026-09-16checked again when the law changes, and every two years |
| On termination or an AIP the trustee repays the lesser of the grant + CLB balances and (C × Y)/(Y + G): C = FMV, Y = grant + CLB balances, G = the rest of the plan balance | See the source | Canada Education Savings Regulations s.11(3)(a),(c), 11(4) | 2005-07-01 | 2026-09-18checked again when the law changes, and every two years |
| RRSP dollar cap on the earned-income formula | $33,810 | CRA registered-program limits table · checked through other published sources | 2026-01-01 | 2026-08-26checked again each January |
| RRSP dollar limit for the next year, published a year ahead (it is the preceding year's money purchase limit) | $35,390 | CRA "MP, DB, RRSP, DPSP, ALDA, TFSA limits, YMPE and the YAMPE" (2027 RRSP dollar limit $35,390 = 2026 MP limit); ITA 146(1) "RRSP dollar limit" and 147.1(1) "money purchase limit" | 2027-01-01 | 2026-10-24checked again each January |
| RRSP cumulative excess amount: undeducted premiums over (unused deduction room + current-year new room + this cushion where the individual attained 18 in a preceding year) | $2,000 | ITA 204.2(1.1) C ("$2,000") | 1996-01-01 | 2026-09-18checked again when the law changes, and every two years |
| RRSP over-contribution cushion: only for an individual who attained this age before the year | 18 years | ITA 204.2(1.1) C ("attained 18 years of age before the year") | 1996-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Part X.1 tax a month on the cumulative excess amount at the end of each month | 1% | ITA 204.1(2.1) ("pay a tax under this Part equal to 1% of that cumulative excess amount") | 1991-01-01 | 2026-09-18checked again when the law changes, and every two years |
| RRSP accrual rate on prior-year earned income | 18% | CRA — RRSP contribution limit formula (ITA s.1024(1)) | 1991-01-01 | 2026-08-26checked again when the law changes, and every two years |
| An RRSP must mature (be withdrawn, annuitized or converted to a RRIF) by December 31 of the year the annuitant turns 71 | 71 years | CRA — RRSP options when you turn 71 | 2007-01-01 | 2026-09-16checked again when the law changes, and every two years |
| RRSP deduction limit formula: 18% of prior-year earned income minus pension adjustment, capped at the 2026 dollar maximum | See the source | CRA MP/RRSP/DPSP/TFSA limits table; 2026 cap $33,810 · checked through other published sources | 2026-01-01 | 2026-08-26checked again each January |
| Spousal RRSP withdrawal before maturity: the contributor includes the lesser of the withdrawal and premiums paid to spousal plans in the year and the two preceding years (earliest premiums first); the annuitant's inclusion is reduced by the same amount; not while living apart on breakdown | 3 years | ITA 146(8.3) ("in the year or in one of the two immediately preceding taxation years"), 146(8.5), 146(8.6) | 1991-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Part XI.01 tax a month on the highest excess TFSA amount in each calendar month | 1% | ITA 207.02 ("1% of the highest such amount in that month"); 207.01(1) "excess TFSA amount" | 2009-01-01 | 2026-09-18checked again when the law changes, and every two years |
| TFSA dollar limit, unrounded indexation base — carried forward and re-indexed to project later years, never the rounded limit | $7,184.92 | tfsalimit.ca per-year unrounded indexation math (2026: $7,044.04 x 1.020 = $7,184.92 -> $7,000); rule corroborated by Fidelity Canada and the CRA indexation FAQ; statutory basis ITA s.207.01 indexed under s.117.1 | 2026-01-01 | 2026-08-26checked again each January |
| TFSA dollar limit: the indexed amount is rounded to the nearest multiple of this | $500 | CRA — Tax-Free Savings Account (limits indexed, rounded to the nearest $500); statutory basis ITA s.207.01(1) "TFSA dollar limit" | 2010-01-01 | 2026-08-26checked again when the law changes, and every two years |
| TFSA annual dollar limits 2009-2026 | See the source | CRA — Tax-Free Savings Account (limits table); 2023-2026 via canada.ca calculate-room page; earlier years · checked through other published sources | 2009-01-01 | 2026-08-26checked again each January |
| Issuer withholding on lump-sum RRSP/RRIF(above minimum)/FHSA taxable withdrawals outside Quebec: 10% up to $5,000; 20% over $5,000 to $15,000; 30% over $15,000 — the rate set by the payment size applies to the whole payment (combined federal+provincial administrative rates; Reg 103(4) prints the federal-only 7/13/20%) | See the source | CRA RC4157(E) Rev. 25 — lump-sum payments; Income Tax Regulations 103(4); CRA "Tax rates on withdrawals" (2026-01-29) | 2026-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Federal withholding on lump-sum RRSP/RRIF(above minimum)/FHSA taxable withdrawals in Quebec: 5% up to $5,000; 10% over $5,000 to $15,000; 15% over $15,000, the rate set by the payment size applying to the whole payment; Quebec income tax is withheld as well | See the source | CRA, Tax rates on withdrawals: "10% (5% in Quebec) on amounts up to $5,000; 20% (10% in Quebec) on amounts exceeding $5,000, up to and including $15,000; 30% (15% in Quebec) on amounts over $15,000" | 2026-01-01 | 2026-11-02checked again when the law changes, and every two years |
| RRIF payments are lump sums for withholding only to the extent they exceed the year's minimum amount (146.3(1)); the minimum is paid without withholding | See the source | Income Tax Regulations 103(6)(d.1) | 1992-01-01 | 2026-09-18checked again when the law changes, and every two years |
Benefits and credits
65 rules
The Canada Child Benefit, the GST/HST credit, the Ontario Child Benefit and the Ontario Trillium Benefit: amounts, thresholds and who receives them.
| What it is | Value | Source | Effective | Last checked |
|---|---|---|---|---|
| Alberta Child and Family Benefit: a base component by children, less a rate of family net income over a threshold, plus a working component that phases in on employment income and phases out over a higher threshold; a twelfth a month, paid quarterly | See the source | Alberta Personal Income Tax Act s.30.2(2): base $1,499 + $749 a further child (to 4), less 8.05% / 12.07% / 16.09% / 20.11% over $27,565; working the lesser of $767 / $698 / $418 / $138 and 15% of earned income over $2,760, less 3.40% / 6.49% / 8.34% / 8.95% over $46,191; s.44.2(2) indexes the dollars except $2,760. alberta.ca ACFB Table 1, July 2026 to June 2027: base $1,529 / $2,293 / $3,057 / $3,821, working $782 / $1,494 / $1,920 / $2,061, thresholds $28,116 and $47,115 | 2026-07-01 | 2026-10-03checked again each year |
| BC family benefit: the greater of the full amounts (and the single-parent supplement) less 4% of family income over the first threshold, and the minimum amounts less 4% over the second; a twelfth a month | See the source | Income Tax Act (BC) s.13.092(2): $1,750 / $2,850 / + $900 a further child, + $500 single parent, − 4% of income over the threshold; $775 / $1,525 / + $725 a further child − 4% over the second; s.13.092(3) half for shared custody. gov.bc.ca: thresholds $30,176 and $96,562 for July 2026 to June 2027 (2025 income) | 2026-07-01 | 2026-10-03checked again each year |
| Adjusted family net income: family net income (line 23600 of both cohabiting spouses) minus UCCB and RDSP income received plus repaid; the engine models neither, so AFNI is the sum of net incomes | See the source | CRA T4114 Canada Child Benefit — "adjusted family net income"; ITA 122.6 "adjusted income" | 2016-07-01 | 2026-09-18checked again when the law changes, and every two years |
| CCB maximum a year per child aged 6–17 at the beginning of the month | $6,883 | CRA — How we calculate your CCB; ITA 122.61(1) E(b) indexed | 2026-07-01 | 2026-09-18checked again each January |
| CCB maximum a year per child under 6 at the beginning of the month | $8,157 | CRA — How we calculate your CCB (July 2026 to June 2027); ITA 122.61(1) E(a) indexed | 2026-07-01 | 2026-09-18checked again each January |
| Child disability benefit per DTC-eligible child, reduced by the CDB rates on AFNI over the second threshold | $3,480 | CRA — How we calculate your CCB; ITA 122.61(1) M | 2026-07-01 | 2026-09-18checked again each January |
| Child disability benefit reduction: 3.2% (one DTC-eligible child) or 5.7% (two or more) of AFNI over the second threshold | See the source | ITA 122.61(1) O(b) | 2016-07-01 | 2026-09-18checked again when the law changes, and every two years |
| Full custody for CCB: the child lives with the parent more than this share of the time | 60% | CRA — Canada child benefit: who can apply | 2011-07-01 | 2026-09-17checked again when the law changes, and every two years |
| Shared custody for CCB: the least share of time the child lives with each parent, or an approximately equal basis | 40% | CRA — Canada child benefit: who can apply | 2011-07-01 | 2026-09-17checked again when the law changes, and every two years |
| CCB reduction by number of children: 7% / 13.5% / 19% / 23% of AFNI over the first threshold up to the second; above it $3,123 / $6,022 / $8,476 / $10,260 plus 3.2% / 5.7% / 8% / 9.5% of the excess (1 / 2 / 3 / 4+ children) | See the source | ITA 122.61(1) Q(b)–(c); flat amounts from the CRA page for 2026 | 2026-07-01 | 2026-09-18checked again each January |
| Shared custody (child lives with each parent 40–60% of the time): each parent receives ½ of the amount computed as if they had full custody, on their own AFNI | See the source | ITA 122.61(1.1); CRA T4114 "40% to 60%" | 2011-07-01 | 2026-09-18checked again when the law changes, and every two years |
| CCB phase-out begins at this AFNI | $38,237 | CRA — How we calculate your CCB; ITA 122.61(1) Q(b) indexed | 2026-07-01 | 2026-09-18checked again each January |
| CCB second threshold: above it the flat amounts plus the lower rates apply | $82,847 | CRA — How we calculate your CCB; ITA 122.61(1) Q(c) indexed | 2026-07-01 | 2026-09-18checked again each January |
| Canada Groceries and Essentials Benefit (formerly GST/HST credit): the amount for the individual, the same for a spouse, and for the eligible-dependant child of a single parent | $445 | ITA 122.5(3.005) A(a)–(c); CRA indexation table 2026 "adult maximum $445" | 2026-07-01 | 2026-09-18checked again each January |
| CGEB per qualified dependant under 19 (other than the one counted at the adult amount) | $234 | ITA 122.5(3.005) A(d) | 2026-07-01 | 2026-09-18checked again each January |
| CGEB (GST/HST credit) "eligible individual": 19 or older before the payment month, unless they have a spouse or common-law partner or are a parent living with their child | 19 years | ITA 122.5(1) "eligible individual"; CRA "GST/HST credit — Who is eligible" (19 or older in the month before the payment) | 1991-01-01 | 2026-10-12checked again when the law changes, and every two years |
| CGEB single-supplement phase-in threshold | $11,564 | ITA 122.5(3.005) A(f); CRA indexation table | 2026-07-01 | 2026-09-18checked again each January |
| CGEB reduced by the reduction rate of adjusted family net income over this | $46,432 | ITA 122.5(3.005) B; CRA indexation table | 2026-07-01 | 2026-09-18checked again each January |
| CGEB reduction rate on AFNI over the phase-out threshold | 5% | ITA 122.5(3.005) B | 2026-07-01 | 2026-09-18checked again when the law changes, and every two years |
| CGEB single supplement: in full for a single parent; for a person with no spouse and no dependant, the lesser of this and the phase-in rate of income over the phase-in threshold | $234 | ITA 122.5(3.005) A(e)–(f) | 2026-07-01 | 2026-09-18checked again each January |
| CGEB single supplement accrues at this rate of income over the phase-in threshold | 2% | ITA 122.5(3.005) A(f) | 2026-07-01 | 2026-09-18checked again when the law changes, and every two years |
| Federal and Ontario refundable benefits are paid July–June on the base taxation year (the calendar year before July); CGEB months are July/October (preceding year) and January/April (second preceding year) | See the source | ITA 122.6 "base taxation year"; 122.5(4.5) | 2026-07-01 | 2026-09-18checked again when the law changes, and every two years |
| New Brunswick Child Tax Benefit and Working Income Supplement: an amount a child less a rate of family income over a threshold, and a supplement on family earned income, paid monthly with the CCB | See the source | New Brunswick Income Tax Act s.51(4): "1/12[(A-B)+(C-D)] where A is the product obtained by multiplying $250 by the number of qualified dependants … B is 5% (or where the individual is an eligible individual of only one qualified dependant …, 2 ½%) of the amount … by which the individual’s adjusted income for the year exceeds $20,000; C is the lesser of $250 and 4% of the amount … by which the individual’s adjusted earned income for the year exceeds $3,750; and D is 5% of the amount … by which the individual’s adjusted income for the year exceeds $20,921"; CRA (July 2026 to June 2027): "$20.83 per month for each child" | 2026-07-01 | 2026-10-03checked again when the law changes, and every two years |
| New Brunswick Harmonized Sales Tax Credit: an amount for the individual, for a spouse (or, for a single parent, the first child) and for each other child, less a rate of family income over a threshold; paid quarterly with the federal credit | See the source | New Brunswick Income Tax Act s.52.02(2): "¼ of the amount … A − B where A is the total of (a) $300, (b) $300 for the qualified relation … (c) $300 if the individual has no qualified relation … [and claims an eligible dependant], and (d) $100 times the number of qualified dependants … other than [the one in (c)]; B is 2% of the amount … by which the eligible individual’s adjusted income … exceeds $35,000"; s.52.02(3) shared custody; s.52.02(5) July, October, January and April; CRA page (July 2026 to June 2027) | 2016-07-01 | 2026-10-03checked again when the law changes, and every two years |
| New Brunswick School Supplement: an amount each July for each child aged 5 to 17, for a family with income at or below a limit | See the source | New Brunswick Income Tax Act s.51.01(2)(c): "the adjusted income of the individual for the taxation year is $20,000 or less"; s.51.01(4): "$100 per qualified dependant who, on July 1 of the year following the taxation year, is at least five years of age and has not attained 18 years of age"; s.51.01(5): two eligible individuals "each … one-half" | 2012-07-01 | 2026-10-03checked again when the law changes, and every two years |
| Newfoundland and Labrador Income Supplement: a base amount, an amount rising with family income, a spouse amount and an amount a child, less a rate of family income over a threshold; paid quarterly with the federal credit | See the source | Income Supplement and Seniors' Benefit Regulations (NL Reg 32/16) s.3(a): "the amount by which the total of (i) $254, (ii) the lesser of $266 and 5.32% of the amount by which the individual's adjusted income for the taxation year exceeds $15,000, (iii) $69 for the qualified relation, … and (iv) the product obtained when $231 is multiplied by the number of qualified dependents …, exceeds (v) 9% of the amount by which the individual's adjusted income for the taxation year exceeds $40,000"; ITA (NL) s.34(3): 25% each specified month | 2016-07-01 | 2026-10-03checked again when the law changes, and every two years |
| Newfoundland and Labrador Child Benefit: a monthly amount for each child by birth order, less a twelfth of a rate (by the number of children) of family income over a threshold; paid with the CCB | See the source | Child and Parental Benefits Regulations (NL Reg 43/09) s.5: "NLCB = 1/12[(A+B+C+D)−E] where A = … for the first qualified dependent; B = … the second; C = … the third; D = … times the number … in excess of 3"; s.7: "greater than $20,397, the benefit reduction “E” shall be calculated by multiplying the difference between the adjusted income and $20,397 by (i) 10.61% where there is one qualified dependent, (ii) 21.86% where there are 2 …, (iii) 33.94% where there are 3 …, and (iv) the total of 33.94%, and … 12.98%" for each further one; CRA (July 2026 to June 2027): "$157.33 for the first child, $166.83 for the second child, $179.16 for the third child, $192.50 for each additional child" | 2026-07-01 | 2026-10-03checked again each year |
| Newfoundland and Labrador early childhood nutrition supplement: a monthly amount for each child for 59 months after the birth month, with the NLCB | See the source | Child and Parental Benefits Regulations (NL Reg 43/09) s.6: "An eligible individual who receives on behalf of a qualified dependent the NLCB … is entitled to receive, for the 59 month period effective the first of the month following the month during which birth occurred, a supplementary benefit of $150 a month" | 2024-07-01 | 2026-10-03checked again when the law changes, and every two years |
| Newfoundland and Labrador Seniors' Benefit: one amount a family with someone 64 or older, less a rate of family income over a threshold; paid quarterly with the Income Supplement | See the source | Income Supplement and Seniors' Benefit Regulations (NL Reg 32/16) s.3(c): "$1,882 for an eligible individual who is 64 years of age or over at any time in the taxation year … where there is a qualified relation, $1,882 for one eligible individual …, exceeds (iii) 11.66% of the amount by which the individual's adjusted income for the taxation year exceeds $30,409"; s.3.1(2): not indexed for 2026 | 2026-07-01 | 2026-10-03checked again each year |
| Nova Scotia Affordable Living Tax Credit: an amount for an individual or couple and for each child, less a rate of family income over a threshold; paid quarterly with the federal credit | See the source | Nova Scotia Affordable Living Tax Credit Regulations s.3: "¼ of the amount, if any, determined by the formula (A + B) − C … A is … $255 for the 2011 and subsequent taxation years … B is … $60 times the number of qualified dependants … C is 5% of the amount, if any, by which the eligible individual’s adjusted income … exceeds $30,000"; s.5: July, October, January and April; CRA page (July 2026 to June 2027) | 2011-07-01 | 2026-10-03checked again when the law changes, and every two years |
| Nova Scotia Child Benefit: an amount a year for each child under 18, paid monthly with the CCB; partly reduced between two family-income thresholds, nil above the second | See the source | Nova Scotia Child Benefit Regulations s.3: "NSCB = [1/12 (A × B)] − C where A is $1525 for each qualified dependant"; s.4: "less than $26 000, C equals zero … equal to or greater than $26 000 and less than $34 000, (a) if there is only 1 qualified dependant … C = 0 (b) if there is more than 1 … C = 1/12 × 50% (A × B − A)"; CRA (July 2026 to June 2027): "$127.08 for each child under 18 … between $26,000 and $34,000, you may get part of the benefit" | 2026-07-01 | 2026-10-03checked again each year |
| NWT Child Benefit: yearly amounts by the number of children under 6 and of children 6 to 17, in full to a minimum family income, reduced in a straight line to nil at a maximum; paid monthly with the CCB | See the source | Income Tax Regulations (NT) s.1.1(1): "(a) B, the prescribed minimum threshold, is $30,000; (b) C … (i) $815 for one qualified dependant, (ii) $1,467 for two …, (iii) $1,997 for three …, (iv) $2,445 for four …, (v) $2,445 plus an additional $367 for each of the fifth and subsequent qualified dependants" [under six]; "(c) D … (i) $652 for one …, (ii) $1,174 for two …, (iii) $1,597 for three …, (iv) $1,956 for four …, (v) $1,956 plus an additional $293"; "(d) E, the prescribed maximum threshold, is $80,000"; ITA (NT) s.3.2(2): "(1/12)[C + D − (A − B)(C + D)/(E − B)]"; s.3.2(2.1): a shared-custody parent gets "(A + B)/2" | 2025-07-01 | 2026-10-04checked again when the law changes, and every two years |
| Nunavut Child Benefit: a yearly amount for each child under 18, less 5% (3% with one child) of family income over a threshold; paid monthly with the CCB | See the source | An Act to Amend the Income Tax Act, S.Nu. 2026, c.8 (assented to 2026-06-11), s.2(1) amending ITA (Nu) s.3.2(2): "1/12 (A - B)" where A is "$696" for each qualified dependant and "B is 5% (or if the person is an eligible individual in respect of only one qualified dependant at the beginning of the month, 3%) of the amount, if any, by which the person's adjusted income for the year exceeds $22,065" | 2026-07-01 | 2026-11-02checked again each year |
| Ontario child benefit maximum a month per child under 18 | $146.66 | CRA — Province of Ontario, Ontario child benefit (July 2026 to June 2027); Taxation Act, 2007 s.104 | 2026-07-01 | 2026-09-18checked again each January |
| Ontario child benefit: family total reduced by this rate of AFNI over the threshold | 8% | Taxation Act, 2007 (Ont.) s.104(5): "C" is "the amount equal to 8 per cent of the amount, if any, by which the individual's adjusted income for the base taxation year in respect of the month exceeds $20,000" (the $20,000 is indexed; read in the e-Laws Word copy, 07t11_e.doc, current to 2026-07-20) | 2008-07-01 | 2026-10-14checked again when the law changes, and every two years |
| Ontario child benefit reduced when AFNI exceeds this | $26,865 | CRA — Province of Ontario ("If your adjusted family net income is above $26,865, you may receive a partial benefit") | 2026-07-01 | 2026-09-18checked again each January |
| OEPTC energy component: occupancy cost capped at this | $290 | CRA — 2026 OEPTC calculation sheets, Step 2 ("D or $290.00, whichever is less") | 2026-07-01 | 2026-09-18checked again each January |
| OEPTC property tax add-on, under 64 | $73 | CRA — 2026 OEPTC calculation sheet, Step 3 | 2026-07-01 | 2026-09-18checked again each January |
| OEPTC property tax component, under 64: the property share of occupancy cost capped at this, plus the add-on, capped at the occupancy cost | $944 | CRA — 2026 OEPTC calculation sheet, single individuals no children, Step 3 | 2026-07-01 | 2026-09-18checked again each January |
| OEPTC property tax component, as a share of occupancy cost before the cap and add-on | 10% | CRA — 2026 OEPTC calculation sheets, Step 3 | 2010-07-01 | 2026-09-18checked again when the law changes, and every two years |
| OEPTC reduction rate on AFNI over the threshold | 2% | CRA — 2026 OEPTC calculation sheets, Step 4 | 2010-07-01 | 2026-09-18checked again when the law changes, and every two years |
| OEPTC occupancy cost: this share of rent paid, plus property tax paid (plus a flat amount for a student residence) | 20% | CRA — 2026 OEPTC calculation sheets, Step 1 | 2010-07-01 | 2026-09-18checked again when the law changes, and every two years |
| OEPTC senior rules apply from age 64 at December 31 of the base year | 64 years | CRA — 2026 OEPTC calculation sheets ("64 or older on December 31, 2025") | 2010-07-01 | 2026-09-18checked again when the law changes, and every two years |
| OEPTC property tax add-on, seniors | $617 | CRA — 2026 OEPTC calculation sheet, seniors, Step 3 | 2026-07-01 | 2026-09-18checked again each January |
| OEPTC property tax component, 64+ at December 31 of the base year: the property share of occupancy cost capped at this, plus the senior add-on | $581 | CRA — 2026 OEPTC calculation sheet, single seniors no children, Step 3 | 2026-07-01 | 2026-09-18checked again each January |
| OEPTC reduction threshold, couples under 64, single parents and single seniors | $36,309 | CRA — 2026 OEPTC calculation sheets (married/common-law; single with children; single seniors), Step 4 | 2026-07-01 | 2026-09-18checked again each January |
| OEPTC reduction threshold, married/common-law seniors | $43,571 | CRA — 2026 OEPTC calculation sheet, married or common-law seniors, Step 4 | 2026-07-01 | 2026-09-18checked again each January |
| OEPTC reduction threshold, single under 64 with no children | $29,047 | CRA — 2026 OEPTC calculation sheet, single individuals no children, Step 4 | 2026-07-01 | 2026-09-18checked again each January |
| Ontario sales tax credit for each adult and each child under 19 | $378 | CRA — Province of Ontario, OSTC; Taxation Act, 2007 s.103.8 | 2026-07-01 | 2026-09-18checked again each January |
| OSTC reduction rate | 4% | CRA — Province of Ontario, OSTC | 2010-07-01 | 2026-09-18checked again when the law changes, and every two years |
| OSTC reduced by the reduction rate of adjusted family net income over this (with a spouse or children) | $36,309 | CRA — Province of Ontario, OSTC | 2026-07-01 | 2026-09-18checked again each January |
| OSTC reduced by the reduction rate of adjusted net income over this (single, no children) | $29,047 | CRA — Province of Ontario, OSTC | 2026-07-01 | 2026-09-18checked again each January |
| OTB entitlements at or below this are paid in one July payment | $500 | ontario.ca — Ontario Trillium Benefit | 2026-07-01 | 2026-09-18checked again when the law changes, and every two years |
| OTB entitlement at or below this is not paid | $2 | ontario.ca — Ontario Trillium Benefit | 2010-07-01 | 2026-09-18checked again when the law changes, and every two years |
| OTB entitlements over the floor and under this are paid as this | $10 | ontario.ca — Ontario Trillium Benefit | 2010-07-01 | 2026-09-18checked again when the law changes, and every two years |
| OTB payment schedule: an entitlement up to the one-payment limit is paid in July, a larger one monthly from July (a June lump-sum election exists and is not modelled) | See the source | ontario.ca — Ontario Trillium Benefit, "How you get the OTB" | 2026-07-01 | 2026-09-18checked again when the law changes, and every two years |
| Prince Edward Island Child Benefit: a monthly amount for each child under 18, by family income band; paid with the CCB | See the source | CRA (July 2026 to June 2027): "$34.16 per month for each child under 18 years of age if your adjusted family net income is less than $45,000"; "$24.16 per month for each child under 18 years of age if your adjusted family net income is between $45,000 and $80,000"; "If your adjusted family net income is greater than $80,000, the amount is reduced to zero"; ITA (PE) s.36.3.1(3): a shared-custody parent gets "1/2 × (A + B)" | 2026-07-01 | 2026-10-03checked again each year |
| Quebec family allowance (Retraite Québec): an amount per child and for a single-parent family, less a rate of family income over a threshold, never below the minimum amounts | See the source | Taxation Act s.1029.8.61.18 (the greater of (C + D) − 4% (E − F) and G + H, a twelfth each month); Parameters 2026 Table 3 and Retraite Québec 2026 key data (per child $3,068, minimum $1,221; single-parent family $1,077, minimum $430; thresholds $60,398 couple, $44,032 single parent) | 2026-01-01 | 2026-10-03checked again each January |
| Quebec family allowance supplement for school supplies, paid in July for each child aged 4 to 16 on the following 30 September | See the source | Taxation Act s.1029.8.61.18(d), s.1029.8.61.19.5 (ages); Parameters 2026 Table 3 ($127) | 2026-01-01 | 2026-10-03checked again each January |
| Quebec senior assistance tax credit: an amount for each spouse 70 or over, less a rate of family income over a threshold | See the source | Taxation Act s.1029.8.61.104 ($2,000 each, 70 or over at 31 December; A − B); Parameters 2026 Table 3 (thresholds $28,405 single, $46,200 couple; rate 5.47%) | 2026-01-01 | 2026-10-03checked again each January |
| Quebec solidarity tax credit: QST and housing components, less a rate of family income over a threshold | See the source | Taxation Act s.1029.8.116.16 (A + B + C − D; D at 6%, 3% when only the QST component applies); Parameters 2026 Table 4 for July 2026 to June 2027 (QST $363 + $363 spouse + $172 alone; housing $906 couple, $746 alone or single parent, $158 a child; threshold $43,195) | 2026-07-01 | 2026-10-03checked again each year |
| Quebec work premium: a rate of work income above an exclusion and up to the reduction threshold, less 10% of family income above it | See the source | Taxation Act s.1029.8.116.5 ((A × B) − (10% × C); 11.6%, 30% single parent, 25% couple with a dependant; exclusions $2,400 / $3,600), s.1029.8.116.11 (one amount a couple); Parameters 2026 Table 3 (reduction thresholds $12,808 one adult, $19,828 couple) | 2026-01-01 | 2026-10-03checked again each January |
| Saskatchewan Low-Income Tax Credit: an adult amount, a spouse or eligible-dependant amount and an amount for up to two children, less a rate of family net income over a threshold; paid quarterly with the federal credit | See the source | CRA — Saskatchewan low-income tax credit, July 2026 to June 2027: "$460 for an individual, $460 for a spouse or common–law partner (or for an eligible dependant), and $181 per child (maximum of two children) … reduced when the adjusted family net income is more than $39,345 … between $39,345 and $81,668 may get part"; ITA (SK) s.39(5.2) (the components and the 5% a year to 2027); The Saskatchewan Low-income Tax Credit Regulations (I-2.01 Reg 7, filed 2025-12-24) s.3: for 2026 "C is equal to 3.029% of the amount, if any, by which the individual's adjusted income for that taxation year exceeds the amount D", D = $54,532 − $460 ÷ 0.03029 ($39,345) | 2026-07-01 | 2026-11-01checked again each year |
| Separated means living apart because of a breakdown in the relationship for at least 90 days; the status is effective from the first day apart | 90 days | CRA — Marital status | 2001-01-01 | 2026-09-17checked again when the law changes, and every two years |
| Yukon child benefit: an amount for each child under 18, less 5% (2.5% with one child) of family income over a threshold; paid monthly with the CCB | See the source | CRA (July 2026 to June 2027): "$80.50 per month for each child"; "If your adjusted family net income is above $35,000, you may get part of the benefit"; Income Tax Act (YT) s.9(4): "1/12 (A−B)" where A is "an amount prescribed for the year" times the qualified dependants and B "is five per cent (or if the person is an eligible individual in respect of only one qualified dependant … two and one-half per cent)" of adjusted income over "an amount prescribed for the year"; s.9(4.1): a shared-custody parent gets "(A + B)/2" | 2026-07-01 | 2026-10-04checked again each year |
Retirement
50 rules
CPP and OAS amounts, deferral adjustments, the recovery tax, GIS, and RRIF minimums.
| What it is | Value | Source | Effective | Last checked |
|---|---|---|---|---|
| QPP start-age adjustment: before 65, 0.5% a month plus 0.1% times the pension's share of the maximum base pension; after 65, +0.7% a month for up to 84 months (to 72) | See the source | Act respecting the Québec Pension Plan s.120.1 ("reduced … by 0.5%, to which is added an adjustment factor multiplied by the ratio …"; "increased by 0.7% … up to a maximum of 84 months"; "the adjustment factor is … 0.1% if it becomes payable in 2016 or in any subsequent year") | 2016-01-01 | 2026-10-03checked again when the law changes, and every two years |
| QPP retirement pension, monthly maximum at 65 | $1,507.65 | Retraite Québec — 2026 Benefit Amounts and Key Data: "At age 65 (100% of the maximum pension) $1507.65"; at 60 (64%) $964.90; at 72 (158.8%) $2394.15 | 2026-01-01 | 2026-10-03checked again each January |
| OAS Allowance: paid to the spouse or common-law partner of a GIS recipient from the 60th birthday until 65 (not modelled; the age bounds when a couple meets it) | 60 years | Old Age Security Act s.19(1)(b): "has attained sixty years of age but has not attained sixty-five years of age" | 1975-10-01 | 2026-09-25checked again when the law changes, and every two years |
| CPP actuarial adjustment for a pension starting before 65, per month early (pensions commencing 2016 and later) | 0.6% | Canada Pension Plan Regulations, s.78.3 (B = 0.0060 for 2016 and later) | 2016-01-01 | 2026-09-18checked again when the law changes, and every two years |
| CPP actuarial adjustment for a pension starting after 65, per month late (pensions commencing 2013 and later) | 0.7% | Canada Pension Plan Regulations, s.78.4 (B = 0.0070 for 2013 and later) | 2013-01-01 | 2026-09-18checked again when the law changes, and every two years |
| CPP adjustment interval is capped at 60 months either side of 65 (start 60–70) | 60 | Canada Pension Plan, s.46(3.1) ("the number of months... not exceeding sixty") | 2011-01-01 | 2026-09-18checked again when the law changes, and every two years |
| CPP start-age adjustment: -0.6%/month before 65 (floor -36% at 60); +0.7%/month 65-70 (cap +42% at 70) | See the source | Service Canada — When to start your CPP retirement pension | 2026-01-01 | 2026-08-26checked again when the law changes, and every two years |
| CPP retirement pension, average monthly amount for new beneficiaries at age 65 | $877.01 | Service Canada — CPP pensions and benefits monthly amounts: "Retirement pension (at age 65) | $877.01 | $1,507.65" (average, maximum) | 2026-04-01 | 2026-08-26checked again each quarter |
| CPP contributions end with the month of the 70th birthday: "Deduct CPP contributions up to and including the last pay dated in the month in which the employee turns 70" | 70 years | CRA — Starting and stopping CPP deductions; CPP Act s.12(1)(a), s.17(1)(a)(ii)(A) ("before they reach seventy years of age") | 2012-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Age at which the CPP contributory period begins (it runs until the pension starts, at the latest age at the latest) | 18 years | Canada Pension Plan, s.49 (contributory period) | 1966-01-01 | 2026-08-26checked again when the law changes, and every two years |
| The fewest months the CPP general drop-out may leave in the average | 120 | Canada Pension Plan, s.48(4) | 2014-01-01 | 2026-08-26checked again when the law changes, and every two years |
| CPP retirement pension can start as early as the month after the 60th birthday | 60 years | Service Canada — CPP retirement pension: when to start | 1987-01-01 | 2026-08-26checked again when the law changes, and every two years |
| A CPP retirement-pension recipient aged 65–69 may elect to stop contributing (CPT30 for employees, Schedule 8 self-employed), effective the first day of the month after the election; under 65 contributions are mandatory | 65 years | CRA — CPP contributions for CPP working beneficiaries; CPP Act s.12(1)(c) | 2012-01-01 | 2026-09-18checked again when the law changes, and every two years |
| CPP general drop-out: the share of contributory months with the lowest earnings left out of the average | 17% | Canada Pension Plan, s.48(4) (17% after 2013; not below 120 months) | 2014-01-01 | 2026-08-26checked again when the law changes, and every two years |
| CPP retirement pension start no later than 70; no increase for deferral past 70 | 70 years | Canada Pension Plan, s.46(3.1) (60-month cap) and Service Canada "When to start" | 2011-01-01 | 2026-09-18checked again when the law changes, and every two years |
| CPP retirement pension, published monthly maximum at age 65 | $1,507.65 | Service Canada — CPP pensions and benefits monthly amounts (read directly 2026-09-18; page dated 2026-06-29) | 2026-01-01 | 2026-09-18checked again each January |
| In the year contributions stop (age 70 or election) the YMPE, YAMPE and basic exemption are each "that proportion... that the number of months in the year" in the contributory period "is of 12" | See the source | Canada Pension Plan, s.17(1) (maximum pensionable earnings), s.17.1 (YAMPE), s.19 (basic exemption) | 2012-01-01 | 2026-09-18checked again when the law changes, and every two years |
| CPP retirement pension standard start age; the early and late adjustments count months from the month after this birthday | 65 years | Service Canada — CPP retirement pension: when to start ("The standard age to start CPP is at age 65.") | 1987-01-01 | 2026-10-11checked again when the law changes, and every two years |
| GIS monthly base income is rounded down to the next lower multiple of this before the one-dollar-per-two reduction | $2 | Old Age Security Act, s.12(5) ("D is... rounded... to the next lower multiple of two dollars") | 1998-01-01 | 2026-09-18checked again when the law changes, and every two years |
| GIS basic supplement a month each where the spouse is also a pensioner (s.12(1)(b)(ii)), set each quarter; reduced $1 per full $2 of monthly base income (1/24 of combined income) | $635.57 | ESDC — Table of Benefit Amounts, October to December 2026, Table 2 (rows past the top-up: each row + its combined income ÷ 48, rounded down, is $635.57) | 2026-10-01 | 2026-10-13checked again each quarter |
| GIS basic supplement a month (s.12(1)(a), (b)(i)), set each quarter, before the s.12.1 top-up; reduced $1 per full $2 of monthly base income | $962.49 | ESDC — Table of Benefit Amounts by marital status and income level, October to December 2026 (SG3-3-2026-4), Table 1; component derived from the rows past the top-up (each row + its income ÷ 24, rounded down, is $962.49) | 2026-10-01 | 2026-10-13checked again each quarter |
| GIS maximum a year for each partner where both receive full OAS (set each quarter) | $8,226.72 | ESDC — Maximum Benefit Amounts and Related Figures, OAS October to December 2026 (monthly $1,138.90 and $685.56 × 12) | 2026-10-01 | 2026-10-13checked again each quarter |
| GIS income excludes every OAS Act benefit (s.2 "income" (c)(i)) and, of employment plus self-employment earnings, the first $5,000 and half of the next $10,000 (para (b.1)) | See the source | Old Age Security Act, s.2 "income" | 2020-07-01 | 2026-09-15checked again when the law changes, and every two years |
| GIS income: the first part of combined employment and self-employment earnings (after CPP/EI contributions) that is deducted | $5,000 | Old Age Security Act, s.2 "income" (b.1)(i) | 2020-07-01 | 2026-09-18checked again when the law changes, and every two years |
| GIS income: the next band of combined earnings, of which half is deducted | $10,000 | Old Age Security Act, s.2 "income" (b.1)(ii) ("the lesser of $5,000 and half of the amount by which the combined amount exceeds $5,000") | 2020-07-01 | 2026-09-18checked again when the law changes, and every two years |
| GIS is included in net income (line 14600) and deducted in computing taxable income (line 25000): it affects the age amount and OAS recovery test but is not taxed | See the source | CRA — Line 14600 Net federal supplements paid; line 25000 Other payments deduction; ITA 110(1)(f) | 2000-01-01 | 2026-09-18checked again when the law changes, and every two years |
| GIS for a partial-pension pensioner: [(A − B) × C] − D/2 where A = maximum supplement + full monthly pension, B = the pensioner's (partial) monthly pension, C = special qualifying factor (1 with ≥10 years residence), D = monthly base income — the supplement rises by (full − partial) pension | See the source | Old Age Security Act, s.12(5) | 1998-01-01 | 2026-09-18checked again when the law changes, and every two years |
| GIS is paid for the July–June payment period on the "base calendar year", the last calendar year ending before the payment period | See the source | Old Age Security Act, s.2 "base calendar year", "payment period"; s.11 | 1998-01-01 | 2026-09-18checked again when the law changes, and every two years |
| GIS maximum a year, single, widowed or divorced pensioner (set each quarter; OAS excluded from income) | $13,666.80 | ESDC — Maximum Benefit Amounts and Related Figures, OAS October to December 2026 (monthly $1,138.90 and $685.56 × 12) | 2026-10-01 | 2026-10-13checked again each quarter |
| Monthly base income when the spouse is not a pensioner (and receives no Allowance): A/24 − B/2, A = combined base-year income, B = full monthly pension × special qualifying factor rounded up to a multiple of $4 | See the source | Old Age Security Act, s.12(6)(b) | 1998-01-01 | 2026-09-18checked again when the law changes, and every two years |
| GIS reduction: base supplement minus "one dollar for each full two dollars" of a single pensioner's base income (s.12(1)(a)), one per four of a couple's combined income (s.12(1)(b)); top-up (s.12.1) minus one per four dollars of income over $2,000 single ($4,000 couple, one per eight of combined) | See the source | Old Age Security Act, ss.12, 12.1 | 2011-07-01 | 2026-09-15checked again when the law changes, and every two years |
| GIS top-up income excess C is rounded down to the next lower multiple of this; the s.12(6)(b) pension offset is rounded up to a multiple of it | $4 | Old Age Security Act, s.12.1(1) C; s.12(6)(b) B(ii) | 2011-07-01 | 2026-09-18checked again when the law changes, and every two years |
| GIS top-up a month each where the spouse is also a pensioner (s.12.1(2)(b)) A, set each quarter (the July 2011 increase, CPI-indexed); reduced by C/4 where C is 1/24 of combined income over the couple threshold rounded down to a multiple of $4 | $49.99 | Old Age Security Act, s.12.1(2)(b), (3); amount from ESDC Table 2, October to December 2026 (685.56 − 635.57) | 2026-10-01 | 2026-10-13checked again each quarter |
| GIS top-up a month (s.12.1(1), (2)(a)) A, set each quarter (the July 2011 and July 2016 increases, CPI-indexed); reduced by C/4 where C is 1/12 of income over the single threshold or 1/24 of combined income over the couple threshold (spouse not a pensioner), rounded down to a multiple of $4 | $176.41 | Old Age Security Act, s.12.1(1), (2.1), (3); amount from ESDC Table 1, October to December 2026 (1,138.90 − 962.49) | 2026-10-01 | 2026-10-13checked again each quarter |
| GIS top-up income threshold, pensioner with a spouse, on combined income (unindexed) | $4,000 | Old Age Security Act, s.12.1(1) C(b), s.12.1(2) C | 2011-07-01 | 2026-09-18checked again when the law changes, and every two years |
| GIS top-up income threshold, pensioner without a spouse (unindexed) | $2,000 | Old Age Security Act, s.12.1(1) C(a) | 2011-07-01 | 2026-09-18checked again when the law changes, and every two years |
| OAS pension increase from the month after the pensioner turns 75 | 10% | Service Canada — Old Age Security payment amounts | 2022-07-01 | 2026-09-15checked again when the law changes, and every two years |
| The OAS increase applies "for the period that begins in the month after the month in which a person attains 75 years of age" | 75 years | Old Age Security Act, s.7(5) (full pension), s.7.1(5)–(6) (deferred/partial) | 2022-07-01 | 2026-09-18checked again when the law changes, and every two years |
| OAS recovery tax rate on net income above the threshold | 15% | CRA — Old Age Security recovery tax | 1989-01-01 | 2026-09-16checked again when the law changes, and every two years |
| OAS clawback (recovery tax) threshold: net world income above it is taxed at the recovery rate (assessed on that year's return; recovered from July of the next year to June of the year after). Indexed annually; the plan scales it by its inflation rate like the brackets | $95,323 | CRA — Old Age Security recovery tax (threshold for 2026 payments; 2026 INCOME year threshold is $95,323 — swap when modelling future years) | 2026-01-01 | 2026-09-15checked again each January |
| OAS deferral bonus: +0.6%/month deferred after 65, max 60 months (+36% at 70); eligibility 65 with 10yr/20yr residency (partial pension = residency/40ths) | See the source | Service Canada — OAS deferral | 2013-07-01 | 2026-08-26checked again when the law changes, and every two years |
| Months of deferral after which the OAS increase stops accruing (age 70) | 60 | Old Age Security Act, s.7.1(2) | 2013-07-01 | 2026-09-18checked again when the law changes, and every two years |
| Voluntary OAS deferral: pension increase for each month deferred after eligibility | 0.6% | Old Age Security Act, s.7.1(1) ("0.6% for each month") | 2013-07-01 | 2026-09-18checked again when the law changes, and every two years |
| OAS pension eligibility age: 65 | 65 years | Service Canada — OAS eligibility | 1970-01-01 | 2026-08-26checked again when the law changes, and every two years |
| The deferral increase and the age-75 increase are not part of the "full monthly pension" or "pensioner's monthly pension" used in the GIS formulas (s.12(5), s.12(6)(b)) | See the source | Old Age Security Act, s.2.1(1)–(2) | 2022-07-01 | 2026-09-18checked again when the law changes, and every two years |
| OAS maximum monthly, age 65–74 (set each quarter) | $762.50 | Service Canada — Old Age Security payment amounts (quarterly-indexed) | 2026-10-01 | 2026-10-13checked again each quarter |
| Full OAS pension requires 40 years of residence in Canada after age 18; a partial pension is years/40 (s.3(3)), fixed once granted | 40 years | Old Age Security Act, s.3(1)(c), s.3(3) ("bears to 40 years") | 1977-07-01 | 2026-09-18checked again when the law changes, and every two years |
| Partial OAS pension requires at least 10 years of residence after 18 (20 years when residing outside Canada) | 10 years | Service Canada — OAS eligibility; OAS Act s.3(2) | 1977-07-01 | 2026-09-18checked again when the law changes, and every two years |
| RRIF minimum withdrawal factors (Budget 2015 schedule): entry age <=71 uses 1/(90-age); table 71-94; 20.00% applies at 95+. Secondary sources commonly typo 86 (8.99, not 9.01) and 89 (10.99, not 11.01) | See the source | CRA — RRIF minimum payments; factors cross-checked digit-for-digit across four sources | 2015-01-01 | 2026-08-26checked again when the law changes, and every two years |
| RRIF minimum below age 71 at January 1 is 1/(90 − age) of the January 1 fair market value; the prescribed-factor table applies from 71; 20% from 95 | See the source | Income Tax Regulations s.7308 | 2015-01-01 | 2026-09-16checked again when the law changes, and every two years |
Buying and holding a home
91 rules
Land transfer tax, CMHC premiums, mortgage compounding, the qualification rules, the limits on borrowing against a home, and the principal-residence exemption.
| What it is | Value | Source | Effective | Last checked |
|---|---|---|---|---|
| Alberta Land Titles levies: a base fee plus a fee for each $5,000 or portion of the value transferred, and the same on the mortgage principal | See the source | Land Titles Act s.64.1(2): "$50 plus $5 for each $5000 or portion thereof of the value of the land"; s.102.1(2): "$50 plus $5 for each $5000 or portion thereof of … the principal amount secured by the mortgage" | 2024-10-20 | 2026-10-03checked again when the law changes, and every two years |
| Alberta charges no tax to the buyer on the mortgage default-insurance premium | 0% | alberta.ca — Insurance premiums tax: "Insurers must file an insurance premiums tax return and remit an amount related to all premiums written" (Alberta Corporate Tax Act); Alberta has no provincial sales tax | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| BC first time home buyers' exemption: no tax on the first $500,000 when fair market value is at most the qualifying value, phased out over the next $25,000 | See the source | Property Transfer Tax Act s.5(1.01): "the lesser of (a) the fair market value of the property, and (b) $500 000"; s.5(1.1): E × (QV + 25 000 − FMV) / 25 000; s.4: "qualifying value … means $835 000" | 2024-04-01 | 2026-10-03checked again when the law changes, and every two years |
| British Columbia property transfer tax: marginal rates on fair market value, with the further 2% on residential value over $3,000,000 | See the source | gov.bc.ca — Property transfer tax: "1% of the fair market value up to and including $200,000; 2% … up to and including $2,000,000; 3% … greater than $2,000,000"; "a further 2% tax … to the residential property value greater than $3,000,000" | 2020-02-21 | 2026-10-03checked again when the law changes, and every two years |
| British Columbia maximum allowable rent increase for 2026: the 12-month average change in B.C. all-items CPI ending in July of the year before; it limits increases to a tenant (RTA ss.42-43), not the rent of a new tenancy | 2.3% | B.C. Government news release, 26 August 2025; Residential Tenancy Act ss.42-43 | 2026-01-01 | 2026-10-21checked again each year |
| British Columbia charges no tax to the buyer on the mortgage default-insurance premium | 0% | Insurance Premium Tax Act s.3: "Every taxable insurer must pay to the government a tax" on its net taxable premiums — the insurer, not the insured | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Most a mortgage and home equity line may reach together, as a share of the home's value (Bank Act s.418(1); OSFI B-20) | 80% | Bank Act s.418(1): a loan on residential property that, "together with the amount then outstanding of any mortgage having an equal or prior claim against the property, would exceed 80 per cent of the value of the property" is barred | 2007-04-20 | 2026-11-01checked again when the law changes, and every two years |
| Most a home equity line of credit may reach, as a share of the home's value (OSFI Guideline B-20, Principle 4 (iv)) | 65% | OSFI — Guideline B-20, Residential Mortgage Underwriting Practices and Procedures: "limit the non-amortizing HELOC component of a residential mortgage to a maximum authorized LTV ratio of less than or equal to 65 percent" | 2017-10-31 | 2026-10-01checked again when the law changes, and every two years |
| In the debt-service test, half of any condominium fee counts as a housing cost (CMHC) | 50% | CMHC — Calculating GDS / TDS: "If applicable, 50% of the condominium fees must be included in the GDS and TDS calculations." | 2018-03-31 | 2026-10-01checked again when the law changes, and every two years |
| In the debt-service test, a secured line of credit counts as its balance amortized over 25 years at the contract rate (CMHC) | 300 | CMHC — Calculating GDS / TDS: "For secured lines of credit, factor in an amount corresponding to at least a monthly payment on the outstanding balance amortized over 25 years using the contract rate." | 2018-03-31 | 2026-10-01checked again when the law changes, and every two years |
| In the debt-service test, the monthly payment counted on an unsecured line of credit or credit card, as a share of its balance (CMHC) | 3% | CMHC — Calculating GDS / TDS: "For unsecured lines of credit and credit cards, factor in a monthly payment amount corresponding to no less than 3% of the outstanding balance." | 2018-03-31 | 2026-10-01checked again when the law changes, and every two years |
| Longest amortization of an insured mortgage for a first-time buyer or a new build, above 80% loan-to-value (CMHC Home Start) | 30 years | CMHC Home Start: "Maximum amortization period is 30 years"; Finance Canada 2024-09-16 for the date | 2024-12-15 | 2026-10-03checked again when the law changes, and every two years |
| Longest amortization of an insured purchase mortgage | 25 years | CMHC — Purchase (homeowner mortgage loan insurance): "Maximum amortization period is 25 years" | 2012-07-09 | 2026-11-01checked again when the law changes, and every two years |
| Default insurance required below this down-payment fraction | 20% | FCAC: down payments | 2016-02-15 | 2026-07-05checked again when the law changes, and every two years |
| Insured mortgage purchase-price cap (price must be strictly below this) | $1,500,000 | CMHC Purchase Mortgage Loan Insurance | 2024-12-15 | 2026-07-05checked again when the law changes, and every two years |
| Maximum insured loan-to-value for owner-occupied 1–2 unit properties | 95% | CMHC Purchase — homeowner loans | 2024-12-15 | 2026-09-16checked again when the law changes, and every two years |
| Maximum insured loan-to-value for owner-occupied 3–4 unit properties | 90% | CMHC Purchase — homeowner loans | 2024-12-15 | 2026-09-16checked again when the law changes, and every two years |
| Minimum down payment: the part of the price up to which the lower rate applies; the higher rate applies above it, up to the insured cap | $500,000 | FCAC — How much you need for a down payment | 2024-12-15 | 2026-07-05checked again when the law changes, and every two years |
| Minimum down payment rate, portion up to first-tier cap | 5% | CMHC Purchase Mortgage Loan Insurance ("5% of the first $500,000 of lending value and 10% of the remainder") | 2024-12-15 | 2026-07-05checked again when the law changes, and every two years |
| Minimum down payment rate, portion above first-tier cap | 10% | CMHC Purchase Mortgage Loan Insurance ("5% of the first $500,000 of lending value and 10% of the remainder") | 2024-12-15 | 2026-07-05checked again when the law changes, and every two years |
| 30-year amortization premium surcharge (CMHC Home Start; FTHB or new build) | 0.2% | CMHC Home Start | 2024-12-15 | 2026-07-05checked again when the law changes, and every two years |
| CMHC premium, 10–14.99% down (LTV 85.01–90%) | 3.1% | CMHC — Mortgage Loan Insurance Cost | 2017-03-17 | 2026-07-05checked again when the law changes, and every two years |
| CMHC premium, 15–19.99% down (LTV 80.01–85%) | 2.8% | CMHC — Mortgage Loan Insurance Cost | 2017-03-17 | 2026-07-05checked again when the law changes, and every two years |
| CMHC premium, 5–9.99% down (LTV 90.01–95%) | 4% | CMHC — Mortgage Loan Insurance Cost | 2017-03-17 | 2026-07-05checked again when the law changes, and every two years |
| CMHC premium schedule by LTV (bp of loan): ≤65% 60; ≤75% 170; ≤80% 240; ≤85% 280; ≤90% 310; ≤95% 400. The three high-ratio tiers duplicate cmhc.premium.* for the calculator; the low-ratio tiers matter for portability/refinance | See the source | CMHC — Mortgage loan insurance cost | 2017-03-17 | 2026-09-16checked again when the law changes, and every two years |
| CMHC premium tier boundaries by down-payment fraction | See the source | CMHC Purchase Mortgage Loan Insurance | 2017-03-17 | 2026-07-05checked again when the law changes, and every two years |
| Homeowners' insurance premiums for owned living quarters, average a year per owner household, Canada, 2023 | $1,526 | Statistics Canada — Table 11-10-0225-01, Household spending by household tenure (Survey of Household Spending 2023) | 2023-01-01 | 2026-11-02checked again each year |
| Fixed-rate mortgage compounding: semi-annual, not in advance — market convention anchored in the Interest Act s.6 disclosure rule; monthly rate = (1+r/2)^(1/6)−1 | No figure | Interest Act, R.S.C. 1985, c. I-15, s. 6 | 1985-12-12 | 2026-07-05checked again when the law changes, and every two years |
| Paying off a closed mortgage before its term ends usually costs the higher of three months' interest on the balance owed and the interest rate differential (the balance × the gap between the mortgage's rate and the lender's current rate for the time left × the years left); none at the end of the term. Value: the months of interest | 3 | FCAC — Mortgage fees: Prepayment penalties (worked example: $200,000 at 6%, 36 months left, current rate 4% → three months' interest $3,000, IRD $12,000, penalty $12,000) | 2025-10-15 | 2026-10-13checked again each year |
| A renewal is not re-qualified at the minimum qualifying rate: federally regulated lenders are not expected to re-apply it to borrowers renewing, nor to uninsured straight switches to another federal lender at renewal | No figure | OSFI — Minimum qualifying rate for uninsured mortgages ("We do not expect lenders to apply the minimum qualifying rate for uninsured straight switches at renewal"); OSFI letter, Final Revised Guideline B-20, 2017-10-17, Annex item 2 | 2018-01-01 | 2026-10-09checked again when the law changes, and every two years |
| Federally regulated lender must send a renewal statement at least 21 days before the term ends (balance at renewal, rate, payment frequency, term, charges), or notice that it will not renew; renewal may be automatic | 21 days | FCAC — Renewing your mortgage | 2022-06-30 | 2026-11-01checked again when the law changes, and every two years |
| Prime rate: the base Canadian banks price lines of credit and bridge loans from | 4.45% | Bank of Canada, series V80691311 "Prime rate" (weekly), observation 2026-10-28: 4.45 | 2026-10-28 | 2026-11-02checked again each year |
| Share of condominium fees included in GDS/TDS shelter costs (insured) | 50% | CMHC — Calculating GDS/TDS | 2021-06-01 | 2026-09-16checked again when the law changes, and every two years |
| GDS maximum (insured) | 39% | CMHC — Calculating GDS / TDS ("CMHC restricts debt service ratios to 39% (GDS) and 44% (TDS)") | 2021-07-05 | 2026-07-14checked again when the law changes, and every two years |
| Heating estimate for GDS (lender convention) | $125 | CMHC — Calculating GDS / TDS (actual heat costs, else "a reasonable estimate") | 2026-01-01 | 2026-07-14checked again when the law changes, and every two years |
| Rental income policy for qualification: the share of gross rent added to income (an underwriting convention; the owner-occupied 2-unit variant is its own rule) | 50% | CMHC — Rental income | 2021-06-01 | 2026-09-16checked again when the law changes, and every two years |
| Qualifying rate floor | 5.25% | OSFI — Minimum qualifying rate for uninsured mortgages | 2021-06-01 | 2026-07-14checked again when the law changes, and every two years |
| Minimum qualifying rate | No figure | OSFI — Minimum qualifying rate for uninsured mortgages | 2021-06-01 | 2026-07-14checked again when the law changes, and every two years |
| Minimum qualifying rate spread over the contract rate: 2 percentage points (the floor rate is its own rule) | 2% | CMHC — Calculating GDS/TDS | 2021-06-01 | 2026-09-16checked again when the law changes, and every two years |
| Suite gross-rent add-back, 2-unit owner-occupied (insured) | 100% | CMHC — Calculating GDS / TDS ("up to 100% of gross rental income from the secondary suite") | 2023-01-01 | 2026-07-14checked again when the law changes, and every two years |
| TDS maximum (insured) | 44% | CMHC — Calculating GDS / TDS ("CMHC restricts debt service ratios to 39% (GDS) and 44% (TDS)") | 2021-07-05 | 2026-07-14checked again when the law changes, and every two years |
| PWL Capital study of twelve Canadian metropolitan areas, January 2005 to December 2024: apartment prices fell for years at a time in some (Calgary had a negative 5-year annualized return over 2015 to 2019; Toronto and Hamilton prices declined after 2022); a renter investing the difference ended with more than an owner in seven of the twelve areas, a geometric average renter-to-owner wealth ratio of 0.99 | No figure | Felix, B. and Bin Arif, H., "Renting vs. Owning a Home in Canada 2005 – 2024", PWL Capital white paper, September 2025 | 2025-09-04 | 2026-11-02checked again each year |
| Insured second home: one unit, occupied rent-free by the owner or close family (never rented), Canadian citizen or PR; CMHC and Canada Guaranty require year-round occupancy and access; CMHC allows 2 insured properties per borrower | No figure | CMHC — CMHC Second Home ("must be suitable and available for full time and year-round occupancy"; "available for 2 properties per borrower/co-borrower") | 2025-08-27 | 2026-10-09checked again when the law changes, and every two years |
| Seasonal (Type B) vacation home: highest insured loan-to-value (Sagen only) | 90% | Sagen — Vacation/Secondary Homes ("Vacation Homes (Type B) 90% LTV") | 2026-10-09 | 2026-10-09checked again each year |
| Sagen Type B vacation-home premium by LTV: ≤65% 1.45%; ≤75% 2.55%; ≤80% 3.15%; ≤85% 3.50%; ≤90% 4.35%; +0.20% over 25-year amortization | See the source | Sagen — Vacation/Secondary Homes, Premium Rate table | 2026-10-09 | 2026-10-09checked again each year |
| Type A secondary home: permanent foundation below the frost line, winterized with a permanent heat source, year-round road access. Type B vacation home: no permanent heat, floating foundation, seasonal or boat-only access allowed, running water | No figure | Sagen — Vacation/Secondary Homes, Property Type Requirements | 2026-10-09 | 2026-10-09checked again each year |
| Manitoba land transfer tax on fair market value | See the source | Manitoba Finance — Land Transfer Tax: first $30,000 0%; next $60,000 0.5%; next $60,000 1.0%; next $50,000 1.5%; in excess of $200,000 2.0% | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Manitoba rent increase guideline ceiling: when the CPI average is above the Bank of Canada inflation-control target range, the guideline is the top of the range | 3% | Residential Rent Regulation, M.R. 156/92 (Manitoba) | 2021-01-01 | 2026-11-02checked again when the law changes, and every two years |
| Manitoba rent increase guideline floor: when the 12-month average of Manitoba CPI to June 30 of the prior year is below the Bank of Canada inflation-control target range, the guideline is the bottom of the range; it limits the rent charged for the unit, so a new tenant takes the prior rent plus the guideline | 1% | Residential Rent Regulation, M.R. 156/92 (Manitoba) | 2021-01-01 | 2026-11-02checked again when the law changes, and every two years |
| Manitoba charges no retail sales tax on mortgage insurance premiums | 0% | The Retail Sales Tax Act (Manitoba) s.4.1(7): "no tax is payable under this section in respect of … (a.2) mortgage insurance, as prescribed in the regulations under The Insurance Act" | 2020-07-01 | 2026-10-03checked again when the law changes, and every two years |
| New Brunswick real property transfer tax: one rate on the greater of the price and the assessed value | See the source | Real Property Transfer Tax Act (NB) s.2(1.03): "On or after April 1, 2016, every person who tenders a deed for registration … shall pay … a tax computed at the rate of 1% of the greater of (a) the consideration for the transfer, or (b) the assessed value of the real property"; s.2(3): "computed to the nearest dollar" | 2016-04-01 | 2026-10-03checked again when the law changes, and every two years |
| New Brunswick charges no tax to the buyer on the mortgage default-insurance premium | 0% | Premium Tax Act (NB) s.2(1): "Every insurance company shall pay to the Minister … a tax equal to (a) two per cent of the gross premiums … [life, accident, sickness] and (b) three per cent of the gross premiums [of other insurance]" (a tax on the insurer); the HST does not apply to insurance (a financial service) | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Newfoundland and Labrador Registry of Deeds fees: a base fee covering the first $500, plus an amount for each further $100 or part, on the deed and on the mortgage; the mortgage fee is capped | See the source | Registration of Deeds Prescribed Fees s.2(1)(a): "when the actual value … exceeds five hundred dollars … $100.00 plus forty cents for each additional one hundred dollars or part of one hundred dollars"; (b) the same for a mortgage on the amount secured; s.2(2): "not liable to pay for the registration of a mortgage … a fee of more than five thousand dollars" | 2007-05-01 | 2026-10-03checked again when the law changes, and every two years |
| Newfoundland and Labrador exempts residential mortgage default insurance from its retail sales tax on insurance premiums | 0% | gov.nl.ca — Retail Sales Tax on Insurance Premiums, q.1: "A tax rate of 15% will be applied to the taxable premiums"; q.2: "The following types of insurance premiums will be exempted from the RST … Residential mortgage default insurance" | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Nova Scotia municipal deed transfer tax: one rate on the price, set by each municipality (there is no provincial transfer tax) | See the source | Service Nova Scotia — Municipal Deed Transfer Tax Rates, July 2026 (49 municipalities, e.g. "Halifax Regional Municipality 1.5%", "Town of New Glasgow 1.0%", "Town of Berwick 1.25%"); novascotia.ca: "rates are set by each municipality and the tax payable is calculated based on the sale price" | 2026-07-01 | 2026-10-03checked again each year |
| Nova Scotia non-resident deed transfer tax: a share of the higher of price and assessed value × the share transferred to buyers who do not live in Nova Scotia (Canadians from other provinces included); exempt if the buyer moves to Nova Scotia within a year | 10% | Nova Scotia — Non-resident Provincial Deed Transfer Tax ("PDTT = 10% x Total Ownership Interest being Transferred to Non-Residents x Purchase Price or the Assessed Value of Property (whichever is higher)"); news release 2026-08-07, Changes to Non-Resident Deed Transfer Tax | 2025-04-01 | 2026-10-09checked again when the law changes, and every two years |
| Nova Scotia charges no tax to the buyer on the mortgage default-insurance premium | 0% | Insurance Premiums Tax Act (NS) s.3(1): "every insurance company shall pay to the Minister a tax equal to three per cent of the gross premiums … and four per cent of gross premiums on other than life insurance" (a tax on the insurer); the HST does not apply to insurance (a financial service) | 2026-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Northwest Territories Land Titles fees: $2 for each $1,000 of value or part on a transfer (a lower rate above $1,000,000), $1.50 for each $1,000 or part of a mortgage, each with a minimum | See the source | Land Titles Act (NT) s.156(2): "(a) where the value of the land is less than or equal to $1,000,000, $2 for each $1,000 of value or part thereof, subject to a prescribed minimum fee; or (b) where the value of the land is greater than $1,000,000, $2,000 plus $1.50 for each $1,000 of value or part thereof in excess of $1,000,000"; s.156(3): a mortgage "is $1.50 for each $1,000 or part thereof of the amount secured … subject to a prescribed minimum fee"; Tariff of Fees Regulations items 1–2: minimums "$100" and "$80" | 2015-01-01 | 2026-10-04checked again when the law changes, and every two years |
| The Northwest Territories charges no tax on the buyer's mortgage default insurance premium: its premium tax falls on insurers | 0% | Insurance Act (NT) s.245(2): "Every insurance company shall pay to the Government of the Northwest Territories a tax equal to 3% of the gross premiums receivable by it during the taxation year in respect of business transacted in the Northwest Territories" | 1988-01-01 | 2026-10-04checked again when the law changes, and every two years |
| Nunavut Land Titles fees: an amount for each $1,000 of value on a transfer (less above $1,000,000) and of a mortgage, each with a minimum | See the source | Land Titles Tariff of Fees Regulations R-062-93 (Nunavut, consolidated to 2015-01-31), Schedule item 1: "(a) where the value of the land is less than or equal to $1,000,000 - $1.50 for each $1000 of value with a minimum fee of $60; (b) where the value of the land is greater than $1,000,000 - $1.50 for each $1000 of value up to $1,000,000 of value and $1 for each $1000 of value after that"; item 2: mortgages "- $1 for each $1000 of the principal amount secured with a minimum fee of $40" | 2015-01-31 | 2026-10-04checked again when the law changes, and every two years |
| Nunavut charges no tax on the buyer's mortgage default insurance premium: its premium tax falls on insurers | 0% | Insurance Act, C.S.Nu. c.I-40 (consolidation current to 2026-06-11), s.245(2): "Every insurance company shall pay to the Government of Nunavut a tax equal to 3% of the gross premiums receivable by it" | 1999-04-01 | 2026-11-02checked again when the law changes, and every two years |
| Ontario first-time homebuyer land transfer tax refund maximum | $4,000 | Land Transfer Tax Refunds for First-Time Homebuyers — ontario.ca | 2017-01-01 | 2026-07-05checked again when the law changes, and every two years |
| Ontario Land Transfer Tax marginal brackets (one or two single-family residences) | See the source | Calculating Land Transfer Tax | Land Transfer Tax — ontario.ca | 2017-01-01 | 2026-07-05checked again when the law changes, and every two years |
| Ontario rent increase guideline for increases taking effect in 2026 | 2.1% | Rent increase guideline — ontario.ca | 2026-01-01 | 2026-10-21checked again each year |
| Ontario rent increase guideline ceiling: the guideline for a calendar year, a 12-month average of Ontario CPI, shall be not more than this; it limits increases to a sitting tenant, not the rent agreed with a new tenant (s.113) | 2.5% | Residential Tenancies Act, 2006 (Ontario) | 2012-06-19 | 2026-10-21checked again when the law changes, and every two years |
| Ontario RST on mortgage default insurance premium (due at closing, not financeable) | 8% | Ontario Ministry of Finance — Retail Sales Tax: Insurance and Benefits Plans | 1997-07-01 | 2026-07-05checked again when the law changes, and every two years |
| Toronto MLTT administration fee per conveyance, before HST; not reduced by the first-time rebate | $102.56 | City of Toronto — MLTT rates and fees | 2026-01-01 | 2026-09-16checked again each year |
| Consideration at or above which the Toronto MLTT administration fee is charged; conveyances below it (nominal value) and full s.760(14) exemptions pay no fee | $14,399 | City of Toronto — MLTT rates and fees | 2026-01-01 | 2026-09-18checked again each year |
| Toronto MLTT first-time purchaser rebate maximum | $4,475 | Municipal Land Transfer Tax & Municipal Non-Resident Speculation Tax Rebate Opportunities — City of Toronto | 2008-02-01 | 2026-07-05checked again when the law changes, and every two years |
| Toronto Municipal Land Transfer Tax marginal brackets (one or two single-family residences) | See the source | Municipal Land Transfer Tax & Municipal Non-Resident Speculation Tax Rates & Fees — City of Toronto | 2026-04-01 | 2026-07-05checked again when the law changes, and every two years |
| Prince Edward Island allowable annual rent increase ceiling: the Director sets the yearly increase from the 12-month average of PEI CPI to the end of June, and it shall not exceed this; the limit runs with the rental unit and not the tenant | 3% | Residential Tenancy Act (Prince Edward Island), 2022, c.88 | 2023-01-01 | 2026-11-02checked again when the law changes, and every two years |
| Prince Edward Island real property transfer tax: 1% on registering a deed | See the source | Real Property Transfer Tax Act (PE) s.3(1): "Every person who tenders for registration in the province a deed shall, before the deed is registered, pay a tax computed at the rate of one percent of the greater of (a) the consideration for the transfer; and (b) the assessed value of the real property" | 2005-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Prince Edward Island real property transfer tax: none for a first-time buyer who will live in the home, at any price | No figure | Real Property Transfer Tax Act (PE) s.5(2): "No tax is payable on the registration of a deed transferring real property to the purchaser of the real property if (a) the person is a first-time home buyer … and (b) the individual intends to occupy or use the real property as his or her principal residence"; RPTT Guide 101: "Effective October 1, 2016, the $200,000 cap on the value of the real property purchased by a first time home buyer has been removed" | 2016-10-01 | 2026-10-03checked again when the law changes, and every two years |
| Prince Edward Island real property transfer tax: none on a home worth this much or less | $30,000 | Real Property Transfer Tax Act (PE) s.4(2): "No tax is payable on the registration of a deed transferring real property if the purchaser's affidavit … indicates that the greater of (a) the consideration for the transfer; and (b) the assessed value of the real property, does not exceed $30,000" | 2006-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Prince Edward Island charges no tax on the buyer's mortgage default insurance premium: its premium tax falls on insurers | 0% | Premium Tax Act (PE) s.2(1): "Every insurance company shall pay to the Superintendent of Insurance for the use of the province a tax equal to (a) three point seven five per cent of the gross premiums on contracts of life insurance … and (b) four per cent of the gross premium on contracts of insurance other than life insurance … receivable by the company" | 2019-11-28 | 2026-10-03checked again when the law changes, and every two years |
| Quebec duties on transfers of immovables ("welcome tax"): the statutory schedule every municipality applies unless its by-law sets more above $500,000 | See the source | Act respecting duties on transfers of immovables s.2: "(1) … does not exceed $62,900: 0.5%; (2) … in excess of $62,900 but does not exceed $315,000: 1%; (3) … exceeds $315,000: 1.5%"; a by-law may set a higher rate above $500,000, at most 3% except Ville de Montréal | 2026-01-01 | 2026-10-03checked again each January |
| Montréal transfer duties: the city's own tiers, up to 4% | See the source | Ville de Montréal — Comment sont calculés les droits sur les mutations immobilières (2026: 0,5 % to $62,900; 1 % to $315,000; 1,5 % to $552,300; 2 % to $1,104,700; 2,5 % to $2,136,500; 3,5 % to $3,113,000; 4 % above; worked example $700,000 → $9,349) | 2026-01-01 | 2026-10-03checked again each January |
| Québec City transfer duties: the statutory tiers to $500,000, then 2.5% and 3% | See the source | Ville de Québec — Droits sur mutation immobilière (2026: 0,5 % to $62,900; 1,0 % to $315,000; 1,5 % to $500,000; 2,5 % to $750,000; 3,0 % above) | 2026-01-01 | 2026-10-03checked again each January |
| Quebec tax on insurance premiums, on the mortgage default-insurance premium (paid at closing, not financeable) | 9%, then 9.98% from 2027-01-01 | Act respecting the Québec sales tax s.512: "a tax equal to 9% of the premium … The tax rate will be 9.975% for any premium paid after 31 December 2026" | 2015-01-01 | 2026-10-03checked again when the law changes, and every two years |
| Saskatchewan PST on insurance premiums, including mortgage default insurance (paid at closing, not financeable) | 6% | The Provincial Sales Tax Act (SK) s.5.9(2): "a consumer who enters into, renews or amends a contract of insurance … shall pay … a tax at the rate of 6% of the premium" | 2017-08-01 | 2026-10-03checked again when the law changes, and every two years |
| The "+1" in variable B of the PRE formula (lets a sale year and a purchase year both be covered) | 1 | Income Tax Folio S1-F3-C2, Principal Residence | 1982-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Principal residence exemption: exempt gain = A × (B ÷ C); B = 1 + years designated while resident in Canada (the +1 only if resident in the acquisition year, dispositions after 2016-10-02); C = tax years ending after acquisition during which owned | See the source | Income Tax Folio S1-F3-C2, Principal Residence | 2016-10-03 | 2026-09-18checked again when the law changes, and every two years |
| A loss on personal-use property (a principal residence) is deemed nil | No figure | Guide T4037 Capital Gains 2025 — Personal-use property | 1972-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Only one property per tax year may be designated as principal residence by a family unit (taxpayer, spouse/common-law partner, unmarried children under 18) | No figure | Income Tax Folio S1-F3-C2, Principal Residence | 1982-01-01 | 2026-09-18checked again when the law changes, and every two years |
| A gift, or a non-arm's-length sale below fair market value, is deemed a sale at fair market value; on a sale below it the buyer's cost stays the price paid, so the gain is taxed twice; a gift gives the recipient a cost of fair market value (69(1)(c)) | No figure | Guide T4037 Capital Gains 2025 — Other transfers of property | 1972-01-01 | 2026-11-01checked again when the law changes, and every two years |
| CRA practice: no deemed disposition and the whole property stays a principal residence when income use is ancillary, there is no structural change and no CCA is claimed; a self-contained suite is a structural change | No figure | Income Tax Folio S1-F3-C2, Principal Residence | 1972-01-01 | 2026-11-01checked again when the law changes, and every two years |
| The designation is made on the return for the year of disposition (Schedule 3 and Form T2091(IND); T1255 by a legal representative); a late designation is accepted at the Minister's discretion and a penalty may apply | No figure | Income Tax Folio S1-F3-C2, Principal Residence | 2016-01-01 | 2026-11-01checked again when the law changes, and every two years |
| A housing unit owned mainly to earn income is generally not ordinarily inhabited when lived in only briefly; receiving only incidental rental income does not make it owned mainly for income | No figure | Income Tax Folio S1-F3-C2, Principal Residence | 2019-03-19 | 2026-11-01checked again when the law changes, and every two years |
| A housing unit (a cottage included) is ordinarily inhabited in a year even if lived in only for a short period, unless owned mainly to earn income | No figure | Income Tax Folio S1-F3-C2, Principal Residence | 1972-01-01 | 2026-11-01checked again when the law changes, and every two years |
| Yukon has no land transfer tax: the Land Titles Office charges flat registration fees, which are not modelled | No figure | Government of Yukon, Land Titles fees: a transfer fee by declared value ($50 under $100,000; $150 to $500,000; $350 to $3,000,000) and an assurance fee; the Land Titles Act, 2015 levies no tax on a transfer | 2016-07-05 | 2026-10-04checked again when the law changes, and every two years |
| Yukon charges no tax on the buyer's mortgage default insurance premium: its premium tax falls on insurers | 0% | Insurance Premium Tax Act, RSY 2002 c.120, s.2(1): "Every insurance company shall pay to the Minister a tax equal to two per cent of the gross premiums receivable by the company" | 2002-12-31 | 2026-10-04checked again when the law changes, and every two years |
Renting part of it out
28 rules
The CRA rules behind suite income, deductible expenses, capital cost allowance, change of use and interest on borrowed money.
| What it is | Value | Source | Effective | Last checked |
|---|---|---|---|---|
| GST/HST small supplier: taxable supplies by the person and associates over the last four calendar quarters not above this amount; no registration or collection required | $30,000 | Excise Tax Act s.148 | 1991-01-01 | 2026-10-09checked again when the law changes, and every two years |
| Accelerated investment incentive (enacted): first-year CCA base multiplier on net additions, by year the property becomes available for use — before 2024: 1.5; 2024–2027: 1.0 (half-year rule suspended); 2028 and later: half-year rule (0.5). Acquired after 2018-11-20. | See the source | CRA — Accelerated investment incentive | 2018-11-21 | 2026-09-18checked again when the law changes, and every two years |
| PROPOSED (2024 FES, restated Budget 2025): reinstate the first-year enhancement for property acquired on or after 2025-01-01 and available for use before 2030, four-year phase-out after 2029. Not enacted; the engine uses the enacted first-year enhancement until it is. | 150% | CRA — What's new for corporations | 2025-01-01 | 2026-09-18checked again when the law changes, and every two years |
| CCA Class 1 (buildings acquired after 1987): declining-balance rate | 4% | Guide T4036 Rental Income — Chapter 4, Classes of depreciable property | 1988-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Each rental building costing at least this amount must be kept in its own Class 1 | $50,000 | Guide T4036 Rental Income — Chapter 4 | 1972-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Half-year rule: CCA in the year of acquisition on only this share of net additions to the class | 50% | Guide T4036 Rental Income — Chapter 4 | 1981-11-13 | 2026-09-18checked again when the law changes, and every two years |
| CCA cannot create or increase a rental loss: the claim is capped at net rental income before CCA (Reg. 1100(11)) | No figure | Guide T4036 Rental Income — Chapter 4 | 1972-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Folio S1-F3-C2: full PRE retained only if income use is ancillary, no structural change, and no CCA claimed; claiming CCA triggers deemed disposition of the rented portion | No figure | Income Tax Folio S1-F3-C2, Principal Residence | 2019-03-19 | 2026-07-05checked again when the law changes, and every two years |
| PRE partial change-in-use: rented share taxable unless ancillary use, no structural change, no CCA (Folio S1-F3-C2 ¶2.57–2.60) | No figure | Income Tax Folio S1-F3-C2, Principal Residence | 2019-03-19 | 2026-07-05checked again when the law changes, and every two years |
| Recapture: when the class UCC goes negative at year end after a disposition, the negative amount is income (rental income line 9947); terminal loss (20(16)) when positive UCC remains and no property is left in the class | No figure | Income Tax Act s.13 | 1972-01-01 | 2026-09-18checked again when the law changes, and every two years |
| When land and building are sold together and a terminal loss would arise, building proceeds are deemed the lesser of total proceeds and the greater of building FMV and the lesser of its capital cost and UCC; land proceeds reduced accordingly | No figure | Income Tax Act s.13 | 1972-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Capital cost for CCA when property starts income use = lesser of FMV and cost + this fraction of (FMV − cost); proportionate under 13(7)(d) | 50% | Income Tax Act s.13 | 1972-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Rental expenses are deductible only to the extent incurred to earn the rent; personal or living expenses never are — for a cottage used by both renters and the owner, the split is by time | No figure | Income Tax Act s.18 | 1972-01-01 | 2026-10-09checked again when the law changes, and every two years |
| Interest deductible only when borrowed money is used for the purpose of earning income from property; the test is the current use, not the original use or the collateral | No figure | Income Tax Folio S3-F6-C1, Interest Deductibility | 2024-08-08 | 2026-09-18checked again when the law changes, and every two years |
| Money borrowed to repay borrowed money is deemed used for the purpose the repaid money was used for (refinancing keeps the old loan's deductible share) | No figure | Income Tax Folio S3-F6-C1, Interest Deductibility | 2024-08-08 | 2026-09-18checked again when the law changes, and every two years |
| Property regularly used partly to earn income and partly for another purpose is split in proportion to the use regularly made of it (a share of use: time, for a whole cottage) | No figure | Income Tax Act s.45 | 1972-01-01 | 2026-10-09checked again when the law changes, and every two years |
| Change of use (full 45(1)(a), partial 45(1)(c)): deemed disposition at FMV (proportionate for partial) and reacquisition at that amount | No figure | Income Tax Act s.45 | 1972-01-01 | 2026-09-18checked again when the law changes, and every two years |
| Subsection 45(2) election: property may still be designated principal residence for up to this many tax years after the change to income use (no CCA, resident in Canada, no other designation) | 4 years | Income Tax Folio S1-F3-C2, Principal Residence | 2019-03-19 | 2026-09-18checked again when the law changes, and every two years |
| Subsection 45(3) election: up to this many tax years before the change to personal use may be designated; void if CCA was claimed after 1984 (45(4)) | 4 years | Income Tax Folio S1-F3-C2, Principal Residence | 2019-03-19 | 2026-09-18checked again when the law changes, and every two years |
| No deduction for the non-compliant amount of a short-term rental: all otherwise-deductible amounts (interest and CCA included) × days non-compliant ÷ days a short-term rental; non-compliant = not permitted where it is, or not registered or licensed where that is required; the rent stays taxable | No figure | Income Tax Act s.67.7 | 2024-01-01 | 2026-10-09checked again when the law changes, and every two years |
| Short-term rental (ITA 67.7): a residential property (a cottage included) rented or offered for rent for less than this many consecutive days | 90 days | Income Tax Act s.67.7 | 2024-01-01 | 2026-10-09checked again when the law changes, and every two years |
| Rental losses deductible against other income if incurred to earn income; barred for cost-sharing arrangements and where no reasonable expectation of profit | No figure | Guide T4036, Rental Income — Rental losses / Renting below fair market value | 2025-01-01 | 2026-07-05checked again when the law changes, and every two years |
| Gross rental income is total rents actually earned in the year (line 8141 / 8299); no vacancy-allowance deduction exists | No figure | Guide T4036, Rental Income — Part 3 Income / Line 8299 Total gross rental income | 2025-01-01 | 2026-07-05checked again when the law changes, and every two years |
| Mixed-use borrowing: a principal repayment reduces the eligible and ineligible portions proportionately | No figure | Income Tax Folio S3-F6-C1, Interest Deductibility | 2024-08-08 | 2026-09-18checked again when the law changes, and every two years |
| An activity with a personal element is a source of income only if carried on in a sufficiently commercial manner; reasonable expectation of profit is one factor (Stewart v. Canada) | No figure | Stewart v. Canada, 2002 SCC 46, [2002] 2 S.C.R. 645 | 2002-05-23 | 2026-10-09checked again when the law changes, and every two years |
| T4036 deductible current expenses and explicit non-deductibles | No figure | Guide T4036, Rental Income — Chapter 3 Expenses / Expenses you cannot deduct | 2025-01-01 | 2026-07-05checked again when the law changes, and every two years |
| Fees to obtain a mortgage on a rental property (appraisal, broker, application, mortgage legal, default-insurance premium) are deducted evenly over this many years | 5 years | Guide T4036 Rental Income — Chapter 3 | 1972-01-01 | 2026-09-18checked again when the law changes, and every two years |
| T4036 rule: split whole-property expenses between personal and rented area by square metres or rooms; expenses relating only to the rented area are 100% deductible | No figure | Guide T4036, Rental Income — Personal portion of total expenses | 2025-01-01 | 2026-07-05checked again when the law changes, and every two years |
Conventions, not law
233 rules
Estimates we start you at — maintenance, insurance, utilities, inflation, selling costs — and the engine's own conventions where the law is silent. Each has a source, and each is yours to change or is listed in the plan's assumptions.
| What it is | Value | Source | Effective | Last checked |
|---|---|---|---|---|
| Calgary residential property tax rate (total: general municipal plus the Alberta School Foundation Fund and Calgary Roman Catholic Separate School Division education tax) | 0.66% | The City of Calgary Bylaw 9M2026, a bylaw to authorize council to impose a tax in respect of property in the city for 2026 (Alberta Municipal Affairs copy) | 2026-01-01 | 2026-10-05checked again each year |
| Alberta residential property tax rate outside Calgary: the median over Alberta's other municipalities of the residential municipal rate plus the education (ASFF) and seniors' and lodge requisitions | 0.99% | Alberta Municipal Affairs — Municipal financial and statistical data, 2026 Tax Rates (sheet MR(3) Mill Rate; 310 of 330 tax rate bylaws in) | 2026-01-01 | 2026-10-26checked again each year |
| Default all-in selling cost rate (Alberta): commission, sales tax on the commission, and legal fees, on an $800,000 sale | 3.84% | WOWA — Real Estate Commission and Selling Costs in Canada | 2026-10-05 | 2026-10-05checked again each year |
| Monthly utilities (electricity, heating fuel, water) for a detached home in Alberta: Statistics Canada's average household spend, uplifted to a detached home | $559 | Statistics Canada — Table 11-10-0222-01, Household spending, Canada, regions and provinces (Survey of Household Spending 2023) | 2023-01-01 | 2026-10-05checked again each year |
| British Columbia residential property tax rate outside Vancouver: the median over BC's other municipalities of the variable-rate taxes on a representative house, as a share of its value, before the home owner grant | 0.62% | BC Ministry of Municipal Affairs — Local Government Statistics, Schedule 704: Taxes and Charges on a Representative House, 2026 | 2026-01-01 | 2026-10-26checked again each year |
| Default all-in selling cost rate (British Columbia): commission, sales tax on the commission, and legal fees, on an $800,000 sale | 3.38% | WOWA — Real Estate Commission and Selling Costs in Canada | 2026-10-05 | 2026-10-05checked again each year |
| Monthly utilities (electricity, heating fuel, water) for a detached home in British Columbia: Statistics Canada's average household spend, uplifted to a detached home | $306 | Statistics Canada — Table 11-10-0222-01, Household spending, Canada, regions and provinces (Survey of Household Spending 2023) | 2023-01-01 | 2026-10-05checked again each year |
| Vancouver residential property tax rate (total: city general purpose, provincial school, TransLink, BC Assessment, Metro Vancouver, MFA), before the home owner grant | 0.34% | City of Vancouver — Residential property tax rates, 2026; Council report 2026-04-28 (council.vancouver.ca/20260505/documents/r2.pdf) | 2026-01-01 | 2026-11-01checked again each year |
| Default nominal home-price appreciation a year: PWL's expected real capital return on a personal residence plus its expected inflation. A labelled, editable assumption, not a forecast. | 3.5% | PWL Capital — Financial Planning Assumptions (Market Capitalization Weighted Portfolio), mid-year 2026 data update, §3 | 2026-08-17 | 2026-09-26checked again each year |
| Interest on uninvested cash — chartered bank non-chequable savings deposits | 0.01% | Bank of Canada — Posted interest rates offered by chartered banks (non-chequable savings deposits, series V80691338) | 2026-09-09 | 2026-09-12checked again each year |
| Default rate on a home equity line of credit a year: PWL's expected cost of a secured line of credit (PWL Capital, Financial Planning Assumptions, Table 3) | 5.13% | PWL Capital — Financial Planning Assumptions (Market Capitalization Weighted Portfolio), mid-year 2026 data update, Table 3 (Expected Cost of Borrowing) | 2026-08-17 | 2026-09-26checked again each year |
| Default rate on an unsecured line of credit a year: PWL's expected cost of an unsecured line of credit (PWL Capital, Financial Planning Assumptions, Table 3) | 8.38% | PWL Capital — Financial Planning Assumptions (Market Capitalization Weighted Portfolio), mid-year 2026 data update, Table 3 (Expected Cost of Borrowing) | 2026-08-17 | 2026-09-26checked again each year |
| Assumed long-run CPI inflation: half Canadian historical inflation since 1900, half the Bank of Canada target (PWL Capital, Financial Planning Assumptions, Table 1) | 2.5% | PWL Capital — Financial Planning Assumptions (Market Capitalization Weighted Portfolio), mid-year 2026 data update, Table 1 (Expected Inflation Composition) | 2026-08-17 | 2026-09-26checked again each year |
| Default expected return on an investment account a year, nominal and net of fees, for an 80/20 equity/bond market-cap portfolio (PWL Capital, Financial Planning Assumptions, Table 8) | 6.35% | PWL Capital — Financial Planning Assumptions (Market Capitalization Weighted Portfolio), mid-year 2026 data update, Table 8 (Portfolio Expected Returns) | 2026-08-17 | 2026-09-26checked again each year |
| Annual maintenance and home insurance together, as a share of home value (PWL Capital, Financial Planning Assumptions, §3) | 1% | PWL Capital — Financial Planning Assumptions (Market Capitalization Weighted Portfolio), mid-year 2026 data update, §3 | 2026-08-17 | 2026-09-26checked again each year |
| Default mortgage rate a year: PWL's expected cost of borrowing on a five-year fixed-rate mortgage (PWL Capital, Financial Planning Assumptions, Table 3) | 4.27% | PWL Capital — Financial Planning Assumptions (Market Capitalization Weighted Portfolio), mid-year 2026 data update, Table 3 (Expected Cost of Borrowing) | 2026-08-17 | 2026-09-26checked again each year |
| A purchase's closing costs besides land transfer tax and mortgage insurance (home inspection, appraisal, legal fees, survey), the planner's starting figure until changed | $3,000 | CMHC — How much will my home really cost?: "A home inspection, which costs around $500"; appraisal "can range between $250 and $350"; legal fees "costs a minimum of $500"; a land survey "can range in price from $1,000 to $2,000" | 2026-11-01 | 2026-11-01checked again each year |
| Share of the year a rented suite is assumed to stand empty, the planner's starting figure until changed: the national vacancy rate of purpose-built rental apartments | 3.1% | CMHC — Rental Market Report 2025, Highlights: "The average vacancy rate for purpose-built rental apartments rose to 3.1%, up from 2.2% in 2024." | 2025-10-01 | 2026-11-01checked again each year |
| Default yearly distributions on a non-registered account, as shares of its value, for an 80/20 portfolio: interest, foreign dividends, Canadian (eligible) dividends and realized capital gains | See the source | PWL Capital — Financial Planning Assumptions (Market Capitalization Weighted Portfolio), mid-year 2026, Table 8 (80/20: interest and foreign dividends 1.33%, Canadian dividends 0.51%, realized capital gains 0.45%), split with Table 7 and Appendix 2 (interest 20% × 3.30%) | 2026-08-17 | 2026-10-12checked again each year |
| Yearly volatility of an individual Canadian home's value: market plus idiosyncratic (PWL Capital, Financial Planning Assumptions, §3 and Table 2) | 14.7% | PWL Capital — Financial Planning Assumptions (Market Capitalization Weighted Portfolio), mid-year 2026 data update, §3 Primary Residence, Table 2 | 2026-08-17 | 2026-09-26checked again each year |
| Yearly volatility (standard deviation) of a diversified portfolio by its expected return: 13.03% at 6.92% (100/0), 11.02% at 6.35% (80/20), 9.12% at 5.73% (60/40), 7.42% at 5.06% (40/60), 5.41% at 3.58% (0/100) (PWL Capital, Financial Planning Assumptions, Table 8) | See the source | PWL Capital — Financial Planning Assumptions (Market Capitalization Weighted Portfolio), mid-year 2026 data update, Table 8 (Portfolio Expected Returns) | 2026-08-17 | 2026-09-26checked again each year |
| Default all-in selling cost rate (Manitoba): commission, sales tax on the commission, and legal fees, on an $800,000 sale | 5.41% | WOWA — Real Estate Commission and Selling Costs in Canada | 2026-10-05 | 2026-10-05checked again each year |
| Monthly utilities (electricity, heating fuel, water) for a detached home in Manitoba: Statistics Canada's average household spend, uplifted to a detached home | $329 | Statistics Canada — Table 11-10-0222-01, Household spending, Canada, regions and provinces (Survey of Household Spending 2023) | 2023-01-01 | 2026-10-05checked again each year |
| Winnipeg residential property tax rate on the assessed value (total: city municipal and Winnipeg School Division, on the 45% portioned assessment), before the Homeowners Affordability Tax Credit | 1.32% | City of Winnipeg Assessment and Taxation — 2026 Combined Mill Rates by School Division | 2026-01-01 | 2026-10-05checked again each year |
| New Brunswick residential property tax rate outside Moncton for an owner-occupied home: the median over New Brunswick's other tax areas of the local rate, the Minister's services rate and, in former local service districts, the Special Provincial Levy | 1.16% | Government of New Brunswick — 2026 Local Government and Rural District Statistics for New Brunswick, Section 5: Tax Rates 2026 | 2026-01-01 | 2026-10-26checked again each year |
| Default all-in selling cost rate (New Brunswick): commission, sales tax on the commission, and legal fees, on an $800,000 sale | 5.91% | WOWA — Real Estate Commission and Selling Costs in Canada | 2026-10-05 | 2026-10-05checked again each year |
| Monthly utilities (electricity, heating fuel, water) for a detached home in New Brunswick: Statistics Canada's average household spend, uplifted to a detached home | $418 | Statistics Canada — Table 11-10-0222-01, Household spending, Canada, regions and provinces (Survey of Household Spending 2023) | 2023-01-01 | 2026-10-05checked again each year |
| Moncton residential property tax rate on the assessed value (municipal rate; an owner-occupied home pays no provincial rate) | 1.36% | City of Moncton — 2026 budget announcement: "The tax rate remains at $1.3614 per $100 of assessment"; Government of New Brunswick, How property tax works | 2026-01-01 | 2026-10-05checked again each year |
| Default all-in selling cost rate (Newfoundland and Labrador): commission, sales tax on the commission, and legal fees, on an $800,000 sale | 5.91% | WOWA — Real Estate Commission and Selling Costs in Canada | 2026-10-05 | 2026-10-05checked again each year |
| Monthly utilities (electricity, heating fuel, water) for a detached home in Newfoundland and Labrador: Statistics Canada's average household spend, uplifted to a detached home | $434 | Statistics Canada — Table 11-10-0222-01, Household spending, Canada, regions and provinces (Survey of Household Spending 2023) | 2023-01-01 | 2026-10-05checked again each year |
| St. John's residential property tax rate on the assessed value (9.1 mills, with water and sewer services), before the separate water and sewer charge | 0.91% | City of St. John's — Taxation: residential mill rate 9.1 mills with water and sewer services | 2026-01-01 | 2026-10-05checked again each year |
| Nova Scotia residential property tax rate outside Halifax: the median over Nova Scotia's other municipal tax areas of the residential rate (which includes the mandatory provincial education contribution) | 1.45% | Nova Scotia open data — Municipal Property Tax Rates (Department of Municipal Affairs), 2025/2026 | 2025-04-01 | 2026-10-26checked again each year |
| Default all-in selling cost rate (Nova Scotia): commission, sales tax on the commission, and legal fees, on an $800,000 sale | 5.86% | WOWA — Real Estate Commission and Selling Costs in Canada | 2026-10-05 | 2026-10-05checked again each year |
| Monthly utilities (electricity, heating fuel, water) for a detached home in Nova Scotia: Statistics Canada's average household spend, uplifted to a detached home | $420 | Statistics Canada — Table 11-10-0222-01, Household spending, Canada, regions and provinces (Survey of Household Spending 2023) | 2023-01-01 | 2026-10-05checked again each year |
| Halifax residential property tax rate on the assessed value, urban area: general, supplementary education, climate action, local transit, hydrant and the two provincial rates | 1.13% | Halifax Regional Municipality — Tax rates 2026/27 (approved 2026-03-31) | 2026-04-01 | 2026-10-05checked again each year |
| Northwest Territories residential property tax rate outside Yellowknife, in the general taxation area: the territorial general mill rate plus the education mill rate | 0.47% | Northwest Territories — Mill Rate Establishment Order (2026), R-068-2026, s.2 "All other classes 2.25" and s.3 "General Taxation Area 2.46" (Gazette Part II Vol. 47 No. 7, p. 275) | 2026-01-01 | 2026-10-26checked again each year |
| Default all-in selling cost rate (Northwest Territories): commission, GST on the commission, and legal fees, on an $800,000 sale | 5.41% | TypicalCosts — Real Estate Agents cost in Northwest Territories: "typically earn a commission of 5% to 6% of the home's sale price" | 2026-10-05 | 2026-10-05checked again each year |
| Monthly utilities (electricity, heating fuel, water) for a detached home in Yellowknife: Statistics Canada's average household spend there, uplifted to a detached home | $848 | Statistics Canada — Table 11-10-0233-01, Household spending, three territorial capitals (Survey of Household Spending 2023) | 2023-01-01 | 2026-10-05checked again each year |
| Yellowknife residential property tax rate on the assessed value: the municipal mill rate plus the education mill rate | 0.95% | City of Yellowknife By-law No. 5137 (2026 Municipal Tax Levy) s.4: "Residential 6.65 mills"; By-law No. 5138 (2026 School Tax Levy) s.4: "Residential 2.90 mills" | 2026-01-01 | 2026-10-05checked again each year |
| Nunavut residential property tax rate outside Iqaluit, in the general taxation area: the territorial general mill rate (no education mill rate) | 0.61% | Nunavut — Mill Rate Establishment Order, 2026, R-016-2026, s.2 "Class 7... Class 11 6.15 mills" and s.3 "General Taxation Area 0.00 mills" | 2026-01-01 | 2026-11-02checked again each year |
| Default all-in selling cost rate (Nunavut): commission, GST on the commission, and legal fees, on an $800,000 sale | 5.41% | Yukon Real Estate Commission Calculator (realtorfeecalculator.com): "5% is typical" | 2026-10-05 | 2026-10-05checked again each year |
| Monthly utilities (electricity, heating fuel, water) for a detached home in Iqaluit: Statistics Canada's average household spend there, uplifted to a detached home | $495 | Statistics Canada — Table 11-10-0233-01, Household spending, three territorial capitals (Survey of Household Spending 2023) | 2023-01-01 | 2026-10-05checked again each year |
| Iqaluit residential property tax rate on the assessed value (Residential, Classification 7/8) | 1.57% | City of Iqaluit By-law No. 1008 (2025 Mill Rate By-law) s.2.1: "Residential: Classification 7/8 15.73 Mills"; "Residential: Classification 9/10/11 22.84 Mills" | 2025-01-01 | 2026-10-05checked again each year |
| Ontario residential property tax rate outside Toronto: the median over Ontario's other lower- and single-tier municipalities of the total residential tax rate (lower or single tier, upper tier and education) | 1.35% | Ontario Ministry of Municipal Affairs and Housing — Financial Information Return open data, Schedule 22 (Municipal and School Board Taxation), 2024 | 2024-01-01 | 2026-10-26checked again each year |
| Default all-in selling cost rate (Toronto): commission, HST on the commission, and legal fees, on an $800,000 sale | 5.81% | WOWA Cost of Selling a House; corroborated by Fox Marin, https://foxmarin.ca/real-estate-commissions-ontario/ (5% split 2.5/2.5 + HST) | 2026-07-05 | 2026-10-05checked again each year |
| Toronto residential property tax rate (total, incl. education + city building fund) | 0.77% | City of Toronto — Property Tax Rates & Fees (2026) | 2026-01-01 | 2026-10-05checked again each year |
| Monthly utilities (hydro + gas + water), detached GTA home | $400 | On The Move Canada — Cost of Utilities in Toronto (2026 Guide) | 2026-01-01 | 2026-10-05checked again each year |
| Charlottetown residential property tax rate on the assessed value for an owner-occupied home: municipal rate plus the provincial rate after the provincial tax credit | 1.67% | Government of Prince Edward Island — Property Taxes and Charges (2026-10-07); Property Charge Rates, City of Charlottetown, 2026 non-commercial: Provincial Tax Rate $1.70, Provincial Tax Credit $0.70, Municipal Resident Tax Rate $0.67 | 2026-01-01 | 2026-10-26checked again each year |
| Charlottetown residential property tax rate on the assessed value for an owner who is not a resident of PEI: the provincial rate with no provincial tax credit, plus the City's non-resident municipal rate | 3.03% | Government of Prince Edward Island — Property Charge Rates, City of Charlottetown, 2026 non-commercial: Provincial Tax Rate $1.70, Provincial Tax Credit $0.70, Municipal Resident Tax Rate $0.67, Municipal Non-Resident Tax Rate $1.33, Non-Resident of PEI Tax Rate $3.03 | 2026-01-01 | 2026-10-26checked again each year |
| Default all-in selling cost rate (Prince Edward Island): commission, sales tax on the commission, and legal fees, on an $800,000 sale | 5.91% | WOWA — Real Estate Commission and Selling Costs in Canada | 2026-10-05 | 2026-10-05checked again each year |
| Monthly utilities (electricity, heating fuel, water) for a detached home in Prince Edward Island: Statistics Canada's average household spend, uplifted to a detached home | $444 | Statistics Canada — Table 11-10-0222-01, Household spending, Canada, regions and provinces (Survey of Household Spending 2023) | 2023-01-01 | 2026-10-05checked again each year |
| Québec residential property tax rate outside Montréal: the median over Québec's other local municipalities of the general property tax (single or residual rate) plus the special taxes on the same base, and the school tax | 0.71% | Ministère des Affaires municipales et de l'Habitation — Rapport financier des organismes municipaux, données prévisionnelles non auditées 2026 (schedule S57, taux adoptés); taxe scolaire 2026-2027, one rate across Québec (Centre de services scolaire des Hautes-Rivières, communiqué 2026-07-02, https://www.cssdhr.gouv.qc.ca/wp-content/uploads/2026/07/2026-07-02_Comm_Pres_Taxe_Scol.pdf) | 2026-01-01 | 2026-10-26checked again each year |
| Default all-in selling cost rate (Quebec): commission, sales tax on the commission, and legal fees, on an $800,000 sale | 5.91% | WOWA — Real Estate Commission and Selling Costs in Canada | 2026-10-05 | 2026-10-05checked again each year |
| Monthly utilities (electricity, heating fuel, water) for a detached home in Quebec: Statistics Canada's average household spend, uplifted to a detached home | $232 | Statistics Canada — Table 11-10-0222-01, Household spending, Canada, regions and provinces (Survey of Household Spending 2023) | 2023-01-01 | 2026-10-05checked again each year |
| Montréal residential property tax rate on the assessed value, a building of five dwellings or fewer in Côte-des-Neiges–Notre-Dame-de-Grâce (the largest borough): city general, ARTM, roads, former-city debt and water rates, the borough's service and investment rates, and the school tax | 0.71% | Ville de Montréal — Taux de taxation 2026 (en $ / 100 $), 2026_taux_taxes.pdf linked from Taux de taxes pour 2026, Immeubles résidentiels column; taxe scolaire 2026-2027, one rate across Québec (Centre de services scolaire des Hautes-Rivières, communiqué 2026-07-02, https://www.cssdhr.gouv.qc.ca/wp-content/uploads/2026/07/2026-07-02_Comm_Pres_Taxe_Scol.pdf) | 2026-01-01 | 2026-11-01checked again each year |
| Default all-in selling cost rate (Saskatchewan): commission, sales tax on the commission, and legal fees, on an $800,000 sale | 3.22% | WOWA — Real Estate Commission and Selling Costs in Canada | 2026-10-05 | 2026-10-05checked again each year |
| Monthly utilities (electricity, heating fuel, water) for a detached home in Saskatchewan: Statistics Canada's average household spend, uplifted to a detached home | $439 | Statistics Canada — Table 11-10-0222-01, Household spending, Canada, regions and provinces (Survey of Household Spending 2023) | 2023-01-01 | 2026-10-05checked again each year |
| Saskatoon residential property tax rate on the assessed value (total: city, library and education, on the 80% taxable assessment) | 1.05% | The Saskatoon Property Tax Bylaw, 2026 (Bylaw 10174) and The School Division Property Tax Bylaw, 2026 (Bylaw 10175); City of Saskatoon Percentage of Value Taxable | 2026-04-29 | 2026-11-01checked again each year |
| Yukon residential property tax rate outside Whitehorse: the median of the residential rates in the territory's schedule for property outside municipalities | 0.89% | Yukon — 2026 General Property Tax Rates and Exemptions Regulation, O.I.C. 2026/46 (Assessment and Taxation Act), Schedule | 2026-04-15 | 2026-10-26checked again each year |
| Default all-in selling cost rate (Yukon): commission, GST on the commission, and legal fees, on an $800,000 sale | 5.41% | Yukon Real Estate Commission Calculator (realtorfeecalculator.com): "5% is typical" | 2026-10-05 | 2026-10-05checked again each year |
| Monthly utilities (electricity, heating fuel, water) for a detached home in Whitehorse: Statistics Canada's average household spend there, uplifted to a detached home | $641 | Statistics Canada — Table 11-10-0233-01, Household spending, three territorial capitals (Survey of Household Spending 2023) | 2023-01-01 | 2026-10-05checked again each year |
| Whitehorse residential property tax rate on the assessed value (the general tax; no separate education levy on the bill) | 1.1% | City of Whitehorse — Property Tax and Utilities: "For 2026, the residential mill rate is 1.097%"; Tax Levy Bylaw 2025-02 s.4: a general tax on residential property "at the rate of 1.123 percent" (2025) | 2026-01-01 | 2026-10-05checked again each year |
| For a base year before the plan, the ACFB working component reads the supplied net income as family employment income | Our convention | Our convention under PITA s.30.2(2): the plan has each person's prior-year net income, not employment income; from the plan's first year on, the assessed employment and business income is used | 2026-10-03 | 2026-10-03checked again when the law changes, and every two years |
| A home purchase closing after 2026 is quoted under the 2026 Ontario rule set — land transfer tax brackets and rebates (unindexed in law), CMHC premiums and price caps, OSFI qualification, the Toronto April-2026 luxury tiers — with no indexation and no guess at future law; the result is marked and the plan's assumptions list names the closing year | Our convention | Planning-software practice: project under "the current Canadian tax system" (Snap Projections help, read 2026-09-19); our convention | 2026-09-19 | 2026-09-19checked again when the law changes, and every two years |
| In a couple, the spouse with the higher net income claims the BC renter's tax credit; the rent the plan pays is rent to a landlord at arm's length for a home in BC | Our convention | Our convention under ITA (BC) s.8.3(7) (only one of two spouses may claim): the credit is measured on the couple's income either way, so who claims does not change the amount (ties: the earlier plan person, as for the spouse amount). The plan's rent counts in each month it is paid; 6 such months in a year make the claimant an eligible tenant | 2026-11-02 | 2026-11-02checked again when the law changes, and every two years |
| A person in the plan who is not yet an eligible individual for the federal credit (under 19, no spouse, no child) is paid no income-tested benefit that month, federal or provincial | Our convention | ITA 122.5(1) "eligible individual" (19 or older, or with a spouse or common-law partner, or a parent who lives with their child). Read 2026-10-14: the OSTC (Taxation Act, 2007 (Ont.) s.103.8(2) para. 2), the NB HST credit (ITA (NB) s.52.02(1)) and the NL income supplement (ITA (NL) s.34(1)(b)) adopt that definition; the NS Affordable Living Tax Credit Regulations s.2 state the same test in their own words (19, or a parent who resided with their child, or married or common-law). The Saskatchewan low-income credit adopts it too: ITA 2000 (SK) s.39(1)(b) "'eligible individual' means an individual who is an eligible individual as defined in subsection 122.5(1) of the federal Act" (read 2026-11-01) | 2026-10-12 | 2026-11-01 |
| The eligible-dependant credit is available for a child who was under 18 at any time in the year (age on January 1 below 18); the dependant's net income is their assessed net income or nil when they file no return | See the source | ITA 118(1)(b)(ii)(D) | 2026-09-18 | 2026-09-18checked again when the law changes, and every two years |
| In projected years the family benefits (the Canada Child Benefit, the provincial child benefits and credits) grow at the plan's inflation rate from the published July 2026 figures: a benefit is read at the family's income deflated to the base year and the payment grown back up. The law indexes them to the consumer price index each July or January (CCB: ITA 122.61(5)), so the plan's inflation stands in for that index | Our convention | ITA 122.61(5) (CCB amounts and thresholds adjusted each July by the 117.1(1) consumer price index factor); our convention: the benefits are linear in their amounts, thresholds and income, so deflating the income and growing the payment equals indexing every figure | 2026-10-05 | 2026-10-14checked again when the law changes, and every two years |
| The Ontario energy and property tax credit reads the rent and property tax the plan pays on the home in each base year (only the part you live in while part is rented). The credit paid from July of the first year is for the year before the plan, which the plan does not hold: it takes the plan's first six months of rent and property tax, doubled | Our convention | CRA — Ontario energy and property tax credit questions and answers: rent and property tax paid for the principal residence (Q10, Q11); not the part of a home used for rental or business (Q12) | 2026-11-02 | 2026-11-02checked again when the law changes, and every two years |
| Child benefits paid before the plan has assessed a year of its own (January 2026 to June 2027 for a plan starting in 2026) read each parent's net income for the base year as their pay today | Our convention | ITA 122.6 "base taxation year" and "adjusted income": the July–June benefit year reads the family's net income of the calendar year before it | 2026-10-13 | 2026-10-13checked again when the law changes, and every two years |
| For a cohabiting couple the plan names the benefit recipient; the ITA 122.6(f) female-parent presumption is not applied | See the source | ITA 122.6 "eligible individual" (f); 122.5(5) | 2026-09-18 | 2026-09-18checked again when the law changes, and every two years |
| Carryback is an explicit per-person election; applied to in-plan prior years only, oldest first, refunded the following April with the ordinary refund | See the source | ITA 111(1)(b); Form T1A | 2026-09-18 | 2026-09-18checked again when the law changes, and every two years |
| A child's birthday is 1 January of the birth year, as for an adult. The child benefit uses the age on the first of each month, so the under-6 rate and the benefit itself end in January of the year the child turns 6 and 18, up to eleven months early | Our convention | ITA 122.61(1): the CCB for a month is set by each qualified dependant's age at the beginning of the month | 2026-10-13 | 2026-10-13checked again when the law changes, and every two years |
| Childcare entered for a child is paid until the end of August of the year the child turns this age, unless changed: school is compulsory from age six | 6 years | Education Act, R.S.O. 1990, c. E.2, s.21(1) (compulsory attendance from the September after a child turns six) | 2026-10-13 | 2026-10-13checked again when the law changes, and every two years |
| A plan that runs short after its own withdrawal order borrows — each home's equity line first, then an unsecured line — at most what a lender would approve: the line limits and the total debt service limit on gross income; the minimum payment is the interest; spare cash repays the dearest line first; a sold home's line is repaid at closing. When no lender would lend more, the projection stops. | Our convention | CMHC — Calculating GDS / TDS (44% TDS, line-of-credit payments); OSFI B-20 Principle 4 (iv); Bank Act s.418(1); PWL Capital Table 3; our convention | 2026-10-01 | 2026-10-01checked again each year |
| In a lender's debt-service test, a car loan, a student loan or another instalment loan counts at its monthly payment while a balance is owed; a credit card or a line of credit entered as a debt counts at the larger of its payment and 3% of its balance, as an unsecured line | Our convention | CMHC — Calculating GDS / TDS: "Other debt obligations include revolving credit (i.e. credit card debts, lines of credit), personal loans or car loans, etc."; "For unsecured lines of credit and credit cards, factor in a monthly payment amount corresponding to no less than 3% of the outstanding balance." | 2026-10-13 | 2026-10-13checked again each year |
| A debt known only by its monthly payment (a plan saved before debts were loans, or a start answer without a balance) is taken as this many months of that payment at no interest, until the real balance and rate are entered; a migrated plan's living expenses lose the same payment, since they used to include it | 60 | Our convention; CMHC — Calculating GDS / TDS (the payment is what a lender counts) | 2026-10-13 | 2026-10-13checked again each year |
| A car loan, student loan, line of credit or credit card is charged its yearly rate / 12 on the balance each month, then its monthly payment comes out of cash until the balance is paid; the rate and payment stay as entered, and no new borrowing is added to it | Our convention | FCAC — Credit agreement for a credit card (information box example): "If interest is charged, it is calculated on your daily average balance and charged monthly to your account on the last day of your billing cycle" | 2026-10-13 | 2026-10-13checked again each year |
| The household is taken to die at the end of the plan's last year; a spouse's death passes everything to the survivor at cost, so the last person's final return reports every RRSP, RRIF and FHSA balance as income and the gain on every non-registered account as a capital gain, with no minimum tax; every home still held is deemed sold at its market value with no selling costs, its gain less the years designated as the principal residence, and a rented building brings back the capital cost allowance claimed (or a terminal loss), the building taken as the same share of the value as of the cost; TFSAs add nothing, and probate is left out | Our convention | CRA, Doing taxes for someone who died: capital gains (capital property deemed sold at fair market value at death, ITA 70(5); rollover to a spouse, 70(6)); CRA, Doing taxes for someone who died: RRSP and RRIF income (the fair market value at death is income on the final return, ITA 146(8.8) and 146.3(6)); ITA 146.6(13) (FHSA); ITA 127.55(c) (no minimum tax in the year of death); ITA 40(2)(b) (principal residence) and 13(1) (recaptured CCA, named on the same capital gains page) | 2026-11-01 | 2026-11-01checked again when the law changes, and every two years |
| A one-time or repeating cost or money in that is not tied to an account is typed in today's dollars and grown each January at the plan's inflation rate to its own year, as pay and living costs are; a payment into or out of an account is booked at the amount typed, in its own year's dollars, because contribution room and withdrawals are in nominal dollars | Our convention | Our convention: an amount a person has in mind now is in today's dollars and is restated to a later year by inflation, as the Bank of Canada inflation calculator restates one | 2026-10-31 | 2026-10-31checked again each year |
| An FHSA holding a balance with no history given is taken as opened just early enough to have contributed all of it (no growth); this year's room then follows the limits from that history ($8,000 plus up to one unused year, never past $40,000 for life), until the CRA figures are entered; reported on the run | See the source | CRA — FHSA participation room ($8,000 a year, $40,000 lifetime, one year of carry-forward); our convention | 2026-09-20 | 2026-09-20checked again when the law changes, and every two years |
| With leftover cash put to work, an FHSA takes it (first in the default order) only while the household are first-time buyers, with or without a home purchase in the plan; a household living in a home it owns, or buying one as repeat buyers, puts nothing in. What no home uses moves to the RRSP at the end of the participation period; reported on the run, with the reminder that an FHSA can be opened by someone who never buys | Our convention | Our convention; CRA — Opening your FHSAs: a first-time home buyer is one who "did not live in a qualifying home... that you owned or jointly owned in this calendar year or in the previous 4 calendar years"; no intention to buy is asked | 2026-10-28 | 2026-10-28checked again when the law changes, and every two years |
| An FHSA the plan carries to the end of its participation period — 31 December of the 15th year after it was opened — is rolled into the holder's RRSP that November (tax-free, no RRSP room used) and closed; an RRSP is opened for it when the plan has none; a first-time buyer's purchase inside the period winds it up instead | Our convention | ITA 146.6(16) (maximum participation period), 146.6(7)–(8) (direct transfer to an RRSP/RRIF, no room), 146.6(17) (FMV deemed received otherwise); CRA "Transfers and withdrawals"; our convention | 2026-09-20 | 2026-09-20checked again when the law changes, and every two years |
| Foreign non-business tax on property income is claimed as the 126(1) credit, and the part over the cap is deducted under 20(11); the 20(12) election to deduct instead of crediting is never taken | Our convention | ITA 126(1), 20(11), 20(12); T2209; our convention | 2026-09-18 | 2026-09-19checked again when the law changes, and every two years |
| An opt-in ordered funding policy draws a month's cash shortfall from named accounts in order (savings, TFSA, taxable whole units, RRSP, RRIF above minimum, FHSA non-qualifying), solving gross for net with Reg 103(4) withholding and the tax the draw causes in the re-run annual assessment; one withdrawal per account per month, never split to lower the band; benefit base-year effects are outside the solver; RESP, program balances and spousal RRSPs inside the 146(8.3) window are refused with a reason; surplus above a cash buffer is contributed down an ordered list within room, a taxable pool on the list buying units at market with whatever is left; an optional savings reserve (an emergency fund, start-year dollars grown by a stated rate each year) is topped up first, and is the first thing a deficit draws when the deficit order names it | See the source | Our convention; CRA: withheld tax "may not always be enough" | 2026-09-18 | 2026-09-18checked again when the law changes, and every two years |
| With "Put leftover cash to work automatically" on (the default), money left after spending and planned contributions goes to the FHSA, then the RRSP, then the TFSA, each up to its room, then the first non-registered account; RESPs are not in the list | Our convention | the RRSP comes before the TFSA because it gives more after tax whenever the tax rate in retirement is below today's (the engine's shelter comparison, model.shelter-compare); the same order as Gilded's default cash priorities | 2026-09-12 | 2026-10-13checked again when the law changes, and every two years |
| If you choose it, while you earn a salary a short month that has used everything but the RRSP borrows on a line of credit first, up to the limit you set or what a lender would allow, and draws the RRSP only for what borrowing leaves | Our convention | Our convention, a choice the household makes; CRA, Tax rates on withdrawals: an RRSP withdrawal is withheld and goes on the return, and ITA 146(1) "unused RRSP deduction room" does not add back what was withdrawn. Borrowing costs interest instead, which is not deductible when the money pays living costs (ITA 20(1)(c)) | 2026-11-01 | 2026-11-01checked again when the law changes, and every two years |
| A short month draws cash first, then non-registered accounts, then RRSPs, then TFSAs ("NRT"), until the household sets its own order; each withdrawal is taxed by its own account's rule; an FHSA or RESP is never drawn for spending; reported on the run | Our convention | My Own Advisor, "Common retirement drawdown orders" (2026-08-28): NRT is "the default logic in fact for many professional software programs"; our convention | 2026-09-25 | 2026-09-25checked again when the law changes, and every two years |
| Each year the Home Buyers' Plan (and Lifelong Learning Plan) minimum is repaid into the participant's own RRSP in December (November in the year they turn 71, before the RRSP becomes a RRIF), paid from the month's spare cash, then non-registered savings, then the TFSA, in the household's withdrawal order; an RRSP or RRIF is never drawn to repay; only the part those cannot fund is added to income. Nothing above the minimum is repaid | Our convention | Our convention: a disciplined household repays the minimum (Income Tax Act s. 146.01(3), 146.02(3) designated repayments; s. 146.01(4), 146.02(4) the shortfall is income) | 2026-10-14 | 2026-10-14checked again when the law changes, and every two years |
| The plan's cash starts at the cash in the bank entered (zero when none is entered), and the cash reserve (emergency fund) counts that cash first, then is built from the money left over each month, before anything is invested. It is not taken out of the account balances entered: those stay in their accounts. A month short of money before the reserve is full draws the cash there is, then the accounts | Our convention | Our convention: the cash in the bank entered opens the plan's cash account (the cash pool), where it earns the cash rate; an emergency fund is built by putting aside a regular amount from pay (FCAC, "Setting up an emergency fund": "Saving a small amount on a regular basis can make a big difference in the long term") | 2026-10-14 | 2026-10-14checked again when the law changes, and every two years |
| From the month the household stops working, the cash reserve (emergency fund) is a floor: a short month draws cash above it, then the accounts in the withdrawal order, and the reserve only after them, before any borrowing. While working, a short month draws the reserve first and spare cash refills it | Our convention | Our convention: an emergency fund is kept through retirement; drawdown orders in planning practice name the investment accounts, not the emergency cash (My Own Advisor, "Common retirement drawdown orders") | 2026-10-12 | 2026-10-12checked again when the law changes, and every two years |
| An RRSP takes leftover cash only while its owner earns a salary in the plan: from the month they retire (from the start, for someone with no salary) the leftover skips it and goes on down the list, to the TFSA and then non-registered savings; contributions the household sets itself are unchanged; reported on the run | Our convention | Our convention; CRA Taxology podcast episode 2, "TFSA vs. RRSP, what's the difference?" (2024-02-14): "Usually, the idea is that you're contributing when you're earning higher income"; CRA T4040: new RRSP room is based on the previous year's earned income | 2026-10-28 | 2026-10-28checked again when the law changes, and every two years |
| A taxable-account sale the funding policy makes to cover a deficit carries no trading commission, sells whole units at the month's value and uses the pool's proportional adjusted cost base | Our convention | T4037 (ACB and outlays on disposition); our convention | 2026-09-18 | 2026-09-19checked again each year |
| With the default withdrawal order, while an RRSP's owner earns a salary in the plan a short month draws that RRSP (and the RRIF it becomes) only after every other account, so the TFSA before it; from the month they retire it takes its place in the default order. A first home is still paid from the FHSA and the Home Buyers' Plan first. A household that sets its own order gets exactly that order; reported on the run | Our convention | Our convention; CRA RC4466: TFSA withdrawals "will only be added back to your TFSA contribution room at the beginning of the following year"; CRA, Tax rates on withdrawals: "When you withdraw funds from an RRSP, your financial institution withholds the tax", and the withdrawal goes on the return; ITA 146(1) "unused RRSP deduction room" adds nothing back for a withdrawal | 2026-10-28 | 2026-10-28checked again when the law changes, and every two years |
| A Home Buyers' Plan withdrawal is taken to come from RRSP money held at least 90 days, so no contribution loses its deduction under the 90-day rule; a contribution made in the 90 days before the withdrawal is not traced | Our convention | ITA 146(5)(a)(iv.1): contributions withdrawn as an HBP eligible amount less than 90 days after they were paid are not deductible; the balance held before them is withdrawn first. | 2026-10-14 | 2026-10-14checked again when the law changes, and every two years |
| A first-time buyer's closing shortfall is met tax-free first — every buyer's FHSA by qualifying withdrawal, then one new Home Buyers' Plan participation per buyer up to the limit — before the ordinary funding order; only the shortfall is drawn; each plan can be set to "keep" in advanced settings | Our convention | CRA "What is the Home Buyers' Plan"; CRA "Withdrawing from your FHSAs" (qualifying withdrawal is tax-free); our convention | 2026-09-19 | 2026-09-19checked again when the law changes, and every two years |
| Plans run to this age by default — about the median: FP Canada's guidelines put the age half of people outlive at 89–92 for individuals under 80. The same guidelines recommend planning to the age a person has at most a 25% chance of outliving — 94–95 for a man, 96–97 for a woman, 98–99 for either of a man–woman couple — so this is a choice, and editable | 90 years | FP Canada / Institute of Financial Planning, 2026 Projection Assumption Guidelines, §4 e) "Projection Period" and Probability of Survival table (CPM2014 projected to 2026) | 2026-09-25 | 2026-09-25checked again each year |
| A plan that names no province is taken to be in Ontario, as every plan was before the province could be chosen; reported on the run until a province is chosen | Our convention | CRA — the province of residence on 31 December decides the provincial return; our convention | 2026-10-03 | 2026-10-03checked again when the law changes, and every two years |
| Every child lives full time with the plan's adults, the first person receives the child benefits, and a couple has lived together since the younger turned 18. Shared custody, a child living elsewhere and a separation are not asked | Our convention | ITA 122.6 "eligible individual" (resides with the qualified dependant and is primarily responsible for their care) and "cohabiting spouse or common-law partner" | 2026-10-13 | 2026-10-13checked again when the law changes, and every two years |
| A home whose municipality is not given is priced in Toronto — the provincial land transfer tax plus the municipal one — until told otherwise; reported on the run | Our convention | City of Toronto — Municipal Land Transfer Tax; our convention | 2026-09-20 | 2026-09-20checked again when the law changes, and every two years |
| A bridge loan for buying before selling: the new home's down payment, up to the old home's equity, borrowed at prime plus a spread in the month the new home closes and repaid with its interest in the month the old one sells; offered only when the sale closes within the months given here; one fee for the lender's and the lawyer's work | See the source | Our convention from RBC (a firm sale agreement is required; terms "typically six months but can range from 90 days to 12 months"), Wealthnorth ("Prime + 2 - 3%", "a maximum of 120 days", admin fee "$200-500"), Lawyerinfo ("Prime + 2% to 4%", lawyer "$250 - $450") and NerdWallet Canada ("prime rate plus two to five percentage points") | 2026-11-02 | 2026-10-31checked again each year |
| On /house, cashing out in a year is the plan run again with the home sold at market in December of that year (in the plan's own sale month when that is its sale year); the tax on the sale is what the sale's own gain and recapture add to each owner's return that year, the rest of the return held as it is | Our convention | CRA Income Tax Folio S1-F3-C2, Principal Residence — a gain not covered by the exemption is a capital gain of the year of disposition, taxed in the owner's return; our convention | 2026-10-12 | 2026-10-12checked again each year |
| Condo or strata fees are typed in today's dollars a month and grow each January at the plan's inflation rate, as other costs typed today do; a lender counts half of them in its debt-service test | Our convention | Our convention: an amount a person has in mind now is in today's dollars and is restated to a later year by inflation, as the Bank of Canada inflation calculator restates one | 2026-11-02 | 2026-11-02checked again when the law changes, and every two years |
| A cottage given to a child is taxed as a sale at its projected market value with no selling costs, and the mortgage is paid off from the household's cash; a sale to a child below market value is not offered | Our convention | Our convention under ITA 69(1)(b) (T4037 "Other transfers of property") | 2026-10-12 | 2026-10-09checked again when the law changes, and every two years |
| A cottage can be in another province or territory than the one the household lives in: its land transfer tax, any tax on buyers from outside the province and its property tax are that province's; income tax on its rent and on a gain on its sale stays the household's province's, since provincial income tax is due where the person lives on 31 December; a home the household lives in is always in its own province (moving is its own event) | Our convention | CRA — Your province or territory of residence ("enter the province or territory where you lived, or were considered to be a factual resident, on December 31") | 2026-10-26 | 2026-10-26checked again each year |
| An Ontario cottage whose municipality is not given is priced outside Toronto — the provincial land transfer tax only — until told otherwise; reported on the run | Our convention | Ontario — Calculating land transfer tax; our convention | 2026-10-09 | 2026-10-09checked again when the law changes, and every two years |
| A cottage starts with the same running-cost defaults as a home — maintenance and insurance together at PWL's 1% of value a year (a figure for a primary residence), property tax and utilities as for a home — until changed | Our convention | PWL Capital — Financial Planning Assumptions, §3; our convention | 2026-10-09 | 2026-10-09checked again each year |
| Ticking "first-time buyer" on a home the plan buys means every buyer qualifies, so the land transfer tax refund is the whole of it and the 30-year insured amortization is open; the law tests each buyer, cuts Ontario's refund to the first-time buyers' share, and gives no refund when a spouse owned a home while the buyer's spouse | Our convention | Ontario — Land Transfer Tax Refunds for First-Time Homebuyers (the spouse "cannot have owned an eligible home... anywhere in the world, while he or she was the purchaser's spouse") | 2026-10-13 | 2026-10-13checked again each year |
| On /house, money that is gone is rent, mortgage interest and carrying costs (property tax, maintenance, insurance, utilities); principal paid down is counted as kept because it lowers what is owed; the suite's rent after tax comes off what is gone first. The return given up, what the down payment and the principal would have earned invested, is shown beside it: each year, how much more the renting plan's investments grow (returns less fees, and interest on cash), before tax, counted only in years it is more | Our convention | FCAC, Mortgage terms and amortization ("when you take longer to pay off your mortgage, you pay more in interest"); our convention | 2026-11-02 | 2026-11-02checked again each year |
| A couple's home whose ownership shares are not given is owned 50/50; each co-owner reports their share of rental income and expenses, and every owner's FHSA and Home Buyers' Plan may fund the purchase; reported on the run | 50% | CRA T4036 Rental Income — co-ownership; our convention | 2026-09-25 | 2026-09-25checked again when the law changes, and every two years |
| A home kept after the move to the next one and rented out from the month the next one closes changes use in full that month: a deemed sale and buy-back at market value (45(1)(a)), the gain to then exempt with the years it was the principal residence and the +1; no 45(2) election, because the new home takes the designation; the mortgage interest is deductible from that month, as the borrowed money now earns rent; no capital cost allowance and no rent control | Our convention | Our convention under ITA 45(1)(a), 45(2), 40(2)(b) and 20(1)(c) (Folio S1-F3-C2 ¶2.48–2.51, ¶2.57; Folio S3-F6-C1 ¶1.28–1.35) | 2026-11-02 | 2026-11-02checked again when the law changes, and every two years |
| A home the plan buys whose listing's yearly property tax is entered pays that bill in its first year, then grown with inflation, in place of the rate times the price; the bill is the seller's, so a sale can change it (a reassessment at the sale price where the province reassesses on sale, or the owner-occupied treatment the seller had) | Our convention | Our convention: every Canadian listing shows the yearly property tax; GNB 2026 Local Government Statistics §5 for one way a bill depends on the owner (owner-occupied homes pay no provincial rate) | 2026-10-26 | 2026-10-26checked again each year |
| A home added to a plan has a down payment of the share of the price below which mortgage insurance is required, until one is entered, so the default mortgage carries no premium | Our convention | FCAC: down payments (mortgage insurance is required on a down payment under 20% of the price) | 2026-10-25 | 2026-10-25checked again when the law changes, and every two years |
| A home added to a plan takes this price until one is entered: a round figure a little under the national average resale price | $600,000 | CREA — national statistics news release, 16 October 2026: national average home price $666,538 in September 2026 (not seasonally adjusted), down 1.6% from a year earlier | 2026-10-25 | 2026-10-25checked again each year |
| In a province with no published table of every municipality's property tax rate, a home anywhere in the province starts at its representative city's rate, and the plan says it is the city's; the listing's yearly tax, when entered, replaces it | Our convention | Our convention; the city figures are each province's own entries (Winnipeg's shown): Manitoba, Saskatchewan and Newfoundland and Labrador publish no province-wide table | 2026-10-31 | 2026-10-31checked again each year |
| A home the plan buys outside its province's representative city starts at the province's "elsewhere" rate: the median, over the province's other taxing areas, of the same total residential rate the city figure uses (municipal, school and other levies on the general bill, for an owner-occupied home), unweighted, from the latest provincial table that covers nearly every municipality; in a territory, the territory's own rate outside the capital | Our convention | Provincial municipal tax-rate tables (BC Schedule 704, Ontario FIR Schedule 22, Alberta 2026 Tax Rates, MAMH S57, Nova Scotia and New Brunswick rate tables, territorial orders) | 2026-10-26 | 2026-10-26checked again each year |
| A home's property tax starts at its rate × the price and then grows each year at the plan's inflation rate, not with the home's market value: reassessment is revenue-neutral, so an average home's bill follows the municipal levy, which has grown close to inflation | Our convention | MPAC fact sheet: "Annual property assessment increases are revenue neutral … no impact on the total property tax amount that a municipality might raise"; TMU CUR, Clayton and Adams (2023), average residential tax 2016–2021 up 12.1%–12.4% in Toronto, Hamilton and Oshawa against Ontario inflation of 10.3%, while home values rose 50%–77% | 2026-10-12 | 2026-10-12checked again each year |
| A home the plan buys pays its first year's property tax at the municipal rate times the purchase price, as if the price were the assessed value; a city taxes the assessed value (in Ontario, still the value on 1 January 2016), which is usually below today's price, so the estimate is usually high | Our convention | City of Toronto — Property assessment and appeals ("based on the fully phased-in January 1, 2016 value") | 2026-10-13 | 2026-10-13checked again each year |
| A home sale closes on the first day of its sale month. Rent and carrying costs run to the end of the month before; the mortgage payout is the balance plus the interest of the month before (mortgage interest is paid in arrears), so no regular payment falls in the sale month | Our convention | Interest Act s.6 (blended payments, interest calculated half-yearly or yearly, not in advance); our convention | 2026-10-13 | 2026-10-13checked again each year |
| Buying a cottage is qualified on both homes — the new mortgage at the qualifying rate, the existing one at its payment, both property taxes, both heat costs and half of any condo fees — against the same debt-service limits as any purchase | Our convention | Canada Guaranty — Lifestyle Advantage ("Total Debt Service ratio calculation must include the servicing of both properties, including taxes and 50% of condo fees") | 2025-11-01 | 2026-10-09checked again each year |
| What a suite brings in after tax, on /house, is the year's suite rent less the income tax its own net rent adds: each owner's return for the year assessed again without the suite's rent less expenses, everything else on the return held as it is. Tax on the savings the rent leaves invested is not the suite's; it is in net worth | Our convention | CRA T4036 Rental Income — net rent is taxed with the owner's other income; our convention | 2026-10-12 | 2026-10-12checked again each year |
| A home bought with a suite (not attested as ancillary use) is run as a partial change of use at closing: the suite's floor share is deemed sold and bought back at the purchase price, so no gain arises then and that share's later gain is taxable on a sale. The mortgage interest deducted against the rent is the same floor share of the whole loan's interest | Our convention | Folio S1-F3-C2 ¶2.57–2.58 (a structural change for income use is a change in use of that part, ITA 45(1)(c)); for a home bought that way the planner takes the change at closing, which gives the same cost for the rented share as buying it for rent from day one. T4036 "Renting part of your property": whole-property expenses, interest included, split by area | 2026-10-14 | 2026-10-14checked again when the law changes, and every two years |
| When a taxed suite stops being rented, the owners take the 45(3) election (the planner claims no capital cost allowance, so 45(4) cannot void it): no gain is taxed when it stops, the rented share keeps its cost and years, and on a sale its gain is exempt only for the years it was lived in. None of the four years before the change is designated back | Our convention | Our convention under ITA 45(1)(c)(i), 45(3) ("ceases in whole or in part to be used for that purpose") and 45(4) | 2026-10-21 | 2026-10-24checked again when the law changes, and every two years |
| The suite rent entered is taken as arm's-length market rent, so its loss is deducted from other income in the plan. On /house "What rent does the suite need?", a swept rent at or above it deducts its loss the same way; a swept rent below it is below market (a cost-sharing arrangement) and deducts none: in a year the suite loses money it reports nothing (rent and expenses both left out), and a year it makes money is taxed as usual | Our convention | CRA Guide T4036, Rental Income — "You cannot claim the expenses for renting part of your property if you have no reasonable expectation of making a profit"; cost-sharing arrangements; Stewart v. Canada, 2002 SCC 46 ¶52-60 (an activity with a personal element must be carried on in a sufficiently commercial manner) | 2026-10-16 | 2026-10-16checked again each year |
| On /house, what the suite has added by a year is the household's net worth that year with the suite less the same plan with the suite left empty | Our convention | CRA T4036 Rental Income — net rent is taxed with the owner's other income; our convention | 2026-10-12 | 2026-10-12checked again each year |
| On /house, the suite's two sides at a sale in year N are its rent after tax collected to the end of N (summed, not grown) and the exemption given up, the tax on a sale in N with the suite less the tax on the same sale with the suite left empty | Our convention | CRA Income Tax Folio S1-F3-C2, Principal Residence ¶2.57–2.59 (a rented share in a structural change is not a principal residence); our convention | 2026-10-12 | 2026-10-12checked again each year |
| Maintenance and home insurance stay a share of the home's value, so they grow with it at the appreciation rate | Our convention | PWL Capital — Financial Planning Assumptions, §3: "We estimate a 1% annual cost for maintenance and insurance" of the home's value | 2026-10-12 | 2026-10-12checked again each year |
| A province's default utilities cost for a new home is Statistics Canada's average household spend on water, fuel and electricity for that province, times 1.5033, which restates an all-household average for a detached home | 1.5033 | Statistics Canada — Table 11-10-0222-01, Household spending, Canada, regions and provinces (Survey of Household Spending 2023) | 2023-01-01 | 2026-10-05checked again each year |
| On /house, ways to rent out a home are compared by what each adds to net worth over the same plan with no suite, at the end of the 5th, 10th, 15th, 20th and 25th calendar year owned (the purchase year counted as the first) and in the sale year, not at the plan's end, where decades of compounding widen any gap | Our convention | CRA T4036 Rental Income — net rent is taxed with the owner's other income; our convention | 2026-10-21 | 2026-10-21checked again each year |
| A non-registered account whose adjusted cost base is left blank on the planner form has its ACB taken as equal to its opening balance — no unrealised gain at the start; every gain the plan reports on that account is growth inside the plan, and any gain accrued before it is left out | Our convention | CRA — adjusted cost base definition (Line 12700) | 2026-09-21 | 2026-09-21checked again when the law changes, and every two years |
| When a short month sells part of a non-registered account for less than it cost, the loss is taken as allowable — the planner assumes you do not buy the same investment back within 30 days, which would make it a superficial loss and deny it | Our convention | CRA — What is a superficial loss (ITA 54 "superficial loss", 40(2)(g)(i)) | 2026-10-01 | 2026-10-01checked again when the law changes, and every two years |
| An investment sale flagged sells the units a dollar amount is worth at the pool's value per unit that month, proceeds equal to the amount; asking for more than the pool is worth sells it out for what is there, never overdraws; the gain is the proceeds less the ACB of the units sold (ITA 40(1), 47(1) average cost) | Our convention | CRA — capital gains on shares and fund units are proceeds less adjusted cost base (average cost per unit) | 2026-09-21 | 2026-09-21checked again when the law changes, and every two years |
| Every non-registered account pays the default yearly distributions, a twelfth each month on its value, reinvested in the account; its entered return is the total, so the price return is that less the distributions; below the default yield the distributions shrink in proportion to the return, and a return of zero or less pays none. Interest and foreign dividends are fully taxed (no foreign tax credit), Canadian dividends as eligible dividends, realized gains as capital gain distributions | Our convention | PWL Capital — Financial Planning Assumptions, §8 (composition of returns: distributions by character, the balance as capital gains, 90/10 unrealized/realized) | 2026-10-12 | 2026-10-12checked again each year |
| The share of a Manitoba home's property tax that is school tax, for the school tax reduction and the Seniors' School Tax Rebate | 54.46% | Our convention: the Winnipeg School Division's share of Winnipeg's 2026 combined residential mill rate, 15.994 of 29.366 mills (City of Winnipeg, 2026 Combined Mill Rates by School Division) | 2026-01-01 | 2026-11-02checked again each year |
| In a couple, the spouse with the higher net income claims the Manitoba Renters Affordability Tax Credit, for the months the plan pays rent and up to the rent it pays | Our convention | Our convention under ITA (MB) s.5.6.1(2) item 3 (one claim a dwelling): the amount does not depend on who claims, since the seniors' reduction is on family income (ties: the earlier plan person, as for the spouse amount). The plan's rent is taken as rent for the household's principal residence in Manitoba, paid to another person | 2026-11-02 | 2026-11-02checked again when the law changes, and every two years |
| Manitoba's school tax reduction is taken off each month's property tax on an owned principal residence with no rented part; the assessed value is the home's market value; the spouse with the higher net income claims the Seniors' School Tax Rebate | Our convention | Our convention under ITA (MB) ss.5.4, 5.5.1 and 5.6: whether the reduction comes on the bill (s.5.6) or as the credit on the return (s.5.4), the year's amount is the same, so it is taken on the bill month by month. A home with a rented suite or rented share takes none (s.5.6(1.1) excludes a property with more than one dwelling unit from the bill reduction; the credit on the return for such a home is left out). The rebate is on the couple's family income, so who claims does not change it | 2026-11-02 | 2026-11-02checked again when the law changes, and every two years |
| Monte Carlo runs the plan many times with each year's investment return and home appreciation drawn at random — lognormal, centred so the middle path is the plan, with PWL's volatilities; all investment accounts move together, each home on its own; inflation, pay, tax rules and interest rates stay as the plan has them. It reports how often the plan finishes without borrowing, finishes owing, or stops, each with its sampling error, and the spread of net worth year by year. A path that runs out of money and credit stops, and each year's spread is taken over the paths still running that year; cash and savings accounts earn their set rate on every path. | Our convention | PWL Capital — Financial Planning Assumptions, Tables 2 and 8 (volatilities); our convention. The stopped paths and the unrandomized savings rate are our reading: PWL gives volatilities for invested portfolios only, and a path with no money left has no net worth to rank | 2026-10-01 | 2026-10-01checked again each year |
| The penalty to pay the mortgage off at a sale is estimated as the higher of three months' interest and the interest rate differential against the rate the plan assumes for a renewal, over the months left in the term; none when the sale falls at a term's end. An amount entered from the lender replaces it | Our convention | Our convention under FCAC, Mortgage fees: Prepayment penalties | 2026-10-13 | 2026-10-13checked again each year |
| A mortgage runs in five-year terms back to back, from the closing for a home bought in the plan and from the term end entered for one already owned; a home bought in the plan renews once, at the end of its first term, at the renewal rate entered (blank: its own rate), the balance and the amortization left carrying over, and later terms keep that rate | Our convention | Our convention; FCAC — Renewing your mortgage; PWL Capital Financial Planning Assumptions Table 3 (five-year fixed) | 2026-10-13 | 2026-10-13checked again each year |
| A mortgage on a home already owned, entered with its balance but neither its payment nor its years left, is taken to have the standard insured amortization of 25 years less the whole years since the home was bought left, and at least one five-year term; reported on the run | Our convention | Our convention; FCAC, "Choosing a mortgage": with less than 20% down the maximum amortization is "25 years in all other cases" than a first-time buyer or a new build; "the longer you take to pay off your mortgage, the more interest you pay" | 2026-10-28 | 2026-10-28checked again when the law changes, and every two years |
| Extra payments tried on /house ("Pay it down faster") are taken to be within the lender's prepayment privileges, so no prepayment penalty is charged; each comes off the balance and the regular payment stays the same | Our convention | FCAC, Mortgage fees: Prepayment penalties ("Prepayment privileges vary from lender to lender"; "Most lenders limit the allowed prepayment amount per year"; paying "more than the allowed additional amount" can bring a penalty) | 2026-10-12 | 2026-10-12checked again each year |
| Months left on an existing mortgage = −ln(1 − B·i/P) ÷ ln(1 + i) with i = (1 + r/2)^(1/6) − 1, rounded up to a whole month; refused when the payment does not exceed the month's interest | Our convention | Interest Act s.6 (semi-annual convention); annuity inversion checked against mikesukmanowsky.com worked example ($700,000, 2.34%, 30 years → $2,703.90; 359 months after one payment) | 2026-10-09 | 2026-10-09checked again when the law changes, and every two years |
| An existing mortgage renews once, at the end of its term, at the default mortgage rate unless the user enters one; the balance and the remaining amortization carry over and nothing is re-qualified | Our convention | PWL Capital — Financial Planning Assumptions, Table 3 (a 30-year expectation); FCAC Renewing your mortgage; OSFI (no requalification at renewal) | 2026-10-09 | 2026-10-09checked again each year |
| The New Brunswick transfer tax is worked out on the price | Our convention | Our convention under RPTT Act s.2(1.03): the law takes the greater of the price and the assessed value; the plan knows only the price, which for a sale at market is usually the greater | 2026-10-03 | 2026-10-03checked again when the law changes, and every two years |
| In a couple, the spouse with the higher net income claims the New Brunswick low-income tax reduction | Our convention | Our convention under NB ITA s.49.1(3) ("only one of those individuals may apply"): the higher-income spouse is the likelier to have the tax to absorb it (ties: the earlier plan person); the spouse's use of the unused part (s.49.1(4)) is not modelled | 2026-10-03 | 2026-10-03checked again when the law changes, and every two years |
| Simulation's "where should your next dollar go?" also pays the sum off each debt and each owned home's mortgage in the plan's first month: the balance starts lower by the sum, at most what is owed, and what is not needed stays in cash. The payment stays the same, so the loan is paid off sooner; a mortgage entered by its years left keeps those years, so its payment falls instead. A lump sum on a mortgage is taken as within the lender's yearly prepayment privileges, with no penalty | Our convention | Our convention; FCAC, Mortgage fees: Prepayment penalties ("Most lenders limit the allowed prepayment amount per year") | 2026-11-02 | 2026-11-02checked again each year |
| In a couple, the spouse with the higher net income claims the Newfoundland and Labrador low income reduction | Our convention | Our convention under ITA (NL) s.21.1(3) ("only one of those individuals may apply"): the higher-income spouse is the likelier to have the tax to absorb it (ties: the earlier plan person); the unused part (s.21.1(4)) does not pass to the other | 2026-10-03 | 2026-10-03checked again when the law changes, and every two years |
| A Nova Scotia home is taken to be in the Halifax Regional Municipality until its municipality is given | Our convention | Our convention: Halifax is the province's largest municipality and charges the highest rate on the Service Nova Scotia list (1.5%) | 2026-10-03 | 2026-10-03checked again when the law changes, and every two years |
| In a couple, the spouse with the higher net income claims the Nova Scotia low income tax reduction | Our convention | Our convention under ITA (NS) s.35(5) ("only one of those individuals may apply"): the reduction is measured on family income either way, and the higher-income spouse is the likelier to have the tax to absorb it (ties: the earlier plan person, as for the spouse amount) | 2026-10-03 | 2026-10-03checked again when the law changes, and every two years |
| In a couple, the spouse with the higher net income claims the Northwest Territories cost of living supplement | Our convention | Our convention under ITA (NT) s.4.1(2.2) ("An individual whose spouse or common-law partner claims a deduction under subsection (2.1) is not entitled to claim"): the supplement is the same whichever spouse claims; the higher-income spouse claims it, the same side as the spouse amount (ties: the earlier plan person) | 2026-10-04 | 2026-10-04checked again when the law changes, and every two years |
| The OAS recovery tax is assessed on the year's return and paid with that return's April balance. Service Canada instead withholds it from each OAS payment from the July after the return to the next June, based on that return (ITA 180.2(3)-(4)), and the return credits what was withheld. Only the timing differs; the year's amount is the same | Our convention | ITA 180.2(3): "there shall be deducted or withheld from that amount on account of the individual's tax payable under this Part for the year"; Service Canada, OAS recovery tax: "The repayment amount is then divided monthly and deducted from your OAS pension payments as a recovery tax"; our convention | 2026-11-02 | 2026-11-02checked again when the law changes, and every two years |
| Each month's pay has one-twelfth of the year's income tax, CPP and EI on that salary alone withheld (not the CRA T4127 payroll formulas); RRSP and FHSA deductions, suite rent and investment income are left to the annual return, and the difference is refunded or paid the following April. A T1213 reduction is an option | Our convention | CRA Form T1213 "Request to Reduce Tax Deductions at Source" (for deductions or non-refundable credits that are not part of the Form TD1, read 2026-09-23) | 2026-09-23 | 2026-09-23checked again when the law changes, and every two years |
| With an approved Form T1213, pay withholding is reduced for the RRSP and FHSA deductions made so far in the year — by month m, m/12 of what those deductions save on the year's pay has been withheld less. The form's declared amount is not used (the plan's contributions depend on the cash the withholding leaves); December's deduction is left to the return. CPP and EI are unchanged; the year's tax is unchanged. Approval is assumed every year; other T1213 lines (child care, support, donations, carrying charges...) are not modelled | Our convention | CRA Form T1213 E (25) "Request to Reduce Tax Deductions at Source": Part 3 line 1 (RRSP contributions, "without exceeding your RRSP deduction limit"; not those deducted from pay) and line 11 (other deductions — the FHSA deduction); "You must make this request every year" | 2025-01-01 | 2026-09-23checked again when the law changes, and every two years |
| In projected years the earnings ceilings that the law grows with average wages grow at the plan's inflation rate plus the real wage growth given here, the Chief Actuary's best estimate: the CPP and QPP ceilings (YMPE and YAMPE; CPP Act s.18), EI and QPIP maximum insurable earnings (EI Act s.4) and, through the money purchase limit, the RRSP dollar limit (ITA 147.1(1) "money purchase limit" (o) and "average wage"). The CPP basic exemption stays at $3,500 as the law has it | 0.8% | Office of the Chief Actuary, Actuarial Report (32nd) on the Canada Pension Plan, revised version (valuation date 31 December 2024, published 28 May 2026), s.4.3.3: "Real AAE and real AWE are projected to increase by 0.8% in 2025 and for every year thereafter"; "The assumed increase in AWE is used to project the increase in the YMPE from one year to the next" (read 2026-11-02) | 2026-11-02 | 2026-11-02checked again when the law changes, and every two years |
| Our reading: Prince Edward Island's first-time buyer exemption is for the whole deed, so it applies only when every buyer on the deed is a first-time buyer; a first-time buyer buying with someone who is not pays the whole 1% | Our convention | RPTT Act s.5(2): "No tax is payable on the registration of a deed transferring real property to the purchaser of the real property if (a) the person is a first-time home buyer" — one exemption for the deed, with no split by share (Ontario's refund is split by share under its own regulation); Ratehub's PEI guide reads it the same way (all purchasers must qualify) | 2026-10-16 | 2026-10-16checked again when the law changes, and every two years |
| The Prince Edward Island transfer tax is computed on the price | Our convention | Our convention under RPTT Act s.3(1) ("the greater of (a) the consideration … and (b) the assessed value"): a plan has no assessed value, and an arm's-length price is usually the greater | 2026-10-04 | 2026-10-04checked again when the law changes, and every two years |
| In a couple, the spouse with the higher net income claims the Prince Edward Island low income tax reduction | Our convention | Our convention under ITA (PE) s.32(3) ("only one of those individuals may apply"): the reduction is measured on family income either way, and the higher-income spouse is the likelier to have the tax to absorb it (ties: the earlier plan person); the unused part (s.32(4)) does not pass to the other | 2026-10-04 | 2026-10-04checked again when the law changes, and every two years |
| A defined-benefit pension is the yearly amount on the plan's statement, taken in today's dollars and grown with the plan's inflation to the year it starts; it starts the month after the start-age birthday (the retirement age when none is given), rises each year after that by the indexing entered (none when blank), and is taxed as pension income that earns the pension credit at any age, with no tax withheld at source. A bridge benefit is entered the same way and ends at 65 | Our convention | Our convention; CRA line 31400 (a life annuity from a registered pension plan is eligible pension income at any age, ITA 118(3), (7)) | 2026-10-13 | 2026-10-13checked again each year |
| A person whose birth year is not given is taken to be 40 at the start of the plan, born on 1 January of that year, until the year is entered; the assumption is reported on every run and on the page | 40 years | Statistics Canada Table 17-10-0005-01 (median age of the Canadian population ≈ 40.6, 2025); our convention | 2026-09-20 | 2026-09-20checked again each year |
| The plan asks for a birth year, never a date of birth; every birthday is 1 January of that year. CPP and OAS start, and CPP contributions stop past 65, by the birthday month, so this is reported on the run whenever one of them falls in the plan | See the source | CRA — CPP contributions stop the month after the 70th birthday, or after 65 on CPT30; our convention | 2026-09-20 | 2026-09-20checked again when the law changes, and every two years |
| A cottage that earns rent may take years of the principal residence exemption only when the household says the family lives there part of each year and the rent is incidental; then the whole cottage keeps the exemption for those years | Our convention | Our convention under Folio S1-F3-C2 ¶2.11 and ¶2.59 | 2026-10-12 | 2026-10-09checked again when the law changes, and every two years |
| When a family owns a home and a cottage in the same years, the years of the principal residence exemption are suggested by each home's expected gain per year owned (projected at its appreciation rate to its sale or the plan's end), each taking the years less one that make it fully exempt and leaving one shared year to the other through the +1; the household may set the cottage's number of years | Our convention | Our convention under ITA 40(2)(b) (Folio S1-F3-C2 ¶2.20, ¶2.28) | 2026-10-12 | 2026-10-09checked again when the law changes, and every two years |
| When one home lived in is sold and another bought in the same year, the home sold is designated to the year before its sale and the +1 covers the sale year; the new home is designated from that year, so both are fully exempt; when they share more than one year the newer home takes them all and only the sale year is covered for the older one | Our convention | Income Tax Folio S1-F3-C2, Principal Residence ("The effect of the one plus in variable B … is to treat both properties as a principal residence in such a year") | 2026-10-09 | 2026-10-09checked again when the law changes, and every two years |
| The cost of a home already owned is what was paid, asked only for a cottage or a home with a rented suite; a home lived in and designated for every year is fully exempt whatever the cost. Left blank, today's value stands in, so none of the gain before the plan is taxed | Our convention | CRA Guide T4037, ACB definition | 2026-10-09 | 2026-10-09checked again when the law changes, and every two years |
| A home already owned takes its annual property tax bill in dollars, grown with inflation; the default (value × the municipality's rate) is shown as an estimate to replace, because the tax base is the assessed value, not today's price | Our convention | City of Toronto — Property assessment and appeals ("based on the fully phased-in January 1, 2016 value"); MPAC Notices and notifications | 2026-10-09 | 2026-10-09checked again each year |
| Quebec's family allowance and solidarity credit are paid as a twelfth each month | Our convention | Our convention: Retraite Québec pays the family allowance quarterly unless monthly payments are asked for, and Revenu Québec pays smaller solidarity credits quarterly or once a year; the year's total is the same | 2026-10-03 | 2026-10-03checked again when the law changes, and every two years |
| A Quebec household owns or rents the home it lives in, so the solidarity credit's housing component applies | Our convention | Our convention under Taxation Act s.1029.8.116.16(b): the housing component needs an owned, leased or subleased eligible dwelling | 2026-10-03 | 2026-10-03checked again when the law changes, and every two years |
| A Quebec home whose municipality is not given is priced in Montréal, whose transfer duties are the highest, until told otherwise; reported on the run | Our convention | Ville de Montréal — transfer duty tiers to 4%; our convention, the Quebec counterpart of the Toronto default | 2026-10-03 | 2026-10-03checked again when the law changes, and every two years |
| Quebec transfer duties are computed on the purchase price | Our convention | Our convention under D-15.1 s.2 (second paragraph): the base is the greatest of the price paid, the stipulated price and the market value (assessment times the comparative factor); a plan has only the price | 2026-10-03 | 2026-10-03checked again when the law changes, and every two years |
| The share of the maximum that sets the QPP early reduction is the estimated pension at 65 over the published maximum | Our convention | Our convention under QPP Act s.120.1: the statute's ratio is on the base plan alone; a plan knows the whole pension at 65 (statement or estimate) | 2026-10-03 | 2026-10-03checked again when the law changes, and every two years |
| Quebec adjusted taxable income for minimum tax is taken as the federal one less the deduction for workers; no Quebec minimum tax is carried forward | Our convention | Our convention under Taxation Act ss.776.51–776.64 (built on the same items as ITA 127.52: gains at 100%, dividends without gross-up, half the carrying charges) | 2026-10-03 | 2026-10-03checked again when the law changes, and every two years |
| A Quebec couple's age, living-alone and retirement-income amounts are claimed by the spouse with the higher Quebec net income; what that spouse cannot use moves to the other under the credit transfer | Our convention | Our convention under Taxation Act s.752.0.7.5 (the spouses agree the split) and s.776.41.5 (unused credits transfer) | 2026-10-03 | 2026-10-03checked again when the law changes, and every two years |
| A Quebec plan person without a spouse is taken to live alone or only with minor children, so the living-alone amount applies | Our convention | Our convention under Taxation Act s.752.0.7.4(a)(i): living in a self-contained domestic establishment with no one other than persons under 18 (or eligible student children) | 2026-10-03 | 2026-10-03checked again when the law changes, and every two years |
| "today's dollars" are the prices at the start of the plan. A balance at the end of a year (net worth, an account, a loan) is divided by (1 + inflation) once for every year from the plan's start to that year end, so the first year end is divided once; a year's flows (pay, tax, spending, the Sankey) once for every year before it, so amounts entered in today's dollars read back as entered | Our convention | Our convention: an amount restated by the inflation between two dates, as the Bank of Canada inflation calculator does; here the dates are the plan's start and the date of the figure | 2026-10-16 | 2026-10-16checked again each year |
| A contribution event flagged contributes no more than the TFSA/RRSP/FHSA room left that month (deducting no more than it contributed); what the room refuses stays in cash, never posted as an excess | Our convention | CRA — TFSA/RRSP/FHSA over-contributions are taxed 1% a month (ITA 207.02, 204.1, 207.021); our convention | 2026-09-20 | 2026-09-20checked again when the law changes, and every two years |
| On the house page, renting is the same plan run with its homes left out: the cash the purchase would have taken stays in the household's accounts, and money owning would have cost beyond the rent is saved like any other leftover cash (in the leftover order when leftover cash is put to work, otherwise kept as cash); each account earns its own return and is taxed by its own rules; rent rises at the plan's rent growth | Our convention | Our convention; PWL Capital, "The Case for Renting" (2017): the renter invests the down payment and the monthly difference | 2026-11-02 | 2026-11-02checked again each year |
| A household that sells its only home goes back to renting from the sale month itself, at the rent it would be paying had it rented all along (the plan's rent grown at its own rate from the plan's start); it pays rent in no month it owns a home, and a cottage never stops the rent | Our convention | FP Canada / IQPF Projection Assumption Guidelines (projections run on the planner's chosen assumptions) | 2026-10-13 | 2026-10-13checked again each year |
| A rent-controlled suite starts each tenant at the market rent; each 1 January the tenant's rent rises by the lesser of the market rent growth and the guideline, and it resets to the market rent when a new tenant moves in. The future guideline is the plan's inflation rate, capped where the statute caps it (Ontario 2.5%) | Our convention | Our convention from RTA 2006 (Ontario) ss.113, 120 and the BC Residential Tenancy Act ss.41-43, whose guidelines are CPI averages | 2026-10-21 | 2026-10-21checked again when the law changes, and every two years |
| A cottage rented from the day it is bought splits into a rented and a personal share from the start (45(1)(b)); one already owned that starts to rent, when not designated, takes the 45(2) election, so no gain is taxed at the change and no capital cost allowance is claimed | Our convention | Our convention under ITA 45(1)(b)–(c), 45(2) (Folio S1-F3-C2 ¶2.51, ¶2.60.1) | 2026-10-12 | 2026-10-09checked again when the law changes, and every two years |
| A cottage the family also uses has a personal element, so a year its rental loses money deducts nothing from other income (expenses capped at the rent) unless the household says it is run as a business at market rates | Our convention | Our convention under Stewart v. Canada, 2002 SCC 46 (¶52–54, ¶60) and ITA 18(1)(h)/248(1) | 2026-10-12 | 2026-10-09checked again when the law changes, and every two years |
| The planner asks whether a rented cottage is licensed or registered where that is required and warns when it is not, but does not deny the expenses as ITA 67.7 would | Our convention | Our convention; ITA 67.7 | 2026-10-12 | 2026-10-09checked again when the law changes, and every two years |
| A cottage rented in the summer only takes its year of rent in equal parts over the months given here, and none in the others | See the source | Our convention: June to September, the usual cottage season; T4036 reports rent for the year, so the year's tax is the same | 2026-11-02 | 2026-11-02checked again when the law changes, and every two years |
| A rented cottage's shared costs and mortgage interest are deductible in the share weeks rented ÷ (weeks rented + weeks of personal use); weeks it stands empty count on neither side | Our convention | Common practitioner reading of ITA 18(1)(a)/(h) and 45(1)(b); CRA gives no time rule | 2026-10-12 | 2026-10-09checked again when the law changes, and every two years |
| A cottage's rent is weeks rented × the weekly rate, entered in today's dollars net of any GST/HST and platform fees, grown with the rent growth rate and spread evenly over the year's months unless it is rented in the summer only | Our convention | Our convention; T4036 reports rent for the year | 2026-10-12 | 2026-10-13checked again when the law changes, and every two years |
| A child with an RESP is a person in the plan from its start. Under 18 they may have no income of any kind and are assessed as a nil return; from the year they turn 18 the education payments are taxed on their own return | Our convention | ITA 146.1(7): EAPs are included in computing the income of the individual they are paid to | 2026-10-13 | 2026-10-13checked again when the law changes, and every two years |
| An RESP opened from a child's row puts in the yearly amount the basic grant matches ($2,500), a twelfth each month, until its contributions have earned the lifetime grant ($36,000 in, at 20%), or the year the child turns 17; only when the household has or opens one, never for a household without children; reported on the run | Our convention | Our convention; Canada Education Savings Act: the grant is 20% of the first $2,500 contributed each year, up to $7,200 a child | 2026-10-28 | 2026-10-28checked again when the law changes, and every two years |
| Monthly RESP contributions stop at the end of the year the child turns 17, the last year the grant is paid; the account then grows until the education payments | 17 years | Canada Education Savings Act s.5 (grant paid for contributions until the end of the year the beneficiary turns 17) | 2026-10-13 | 2026-10-13checked again when the law changes, and every two years |
| Scheduled RESP contributions stop in the month the lifetime limit per beneficiary is reached (the last one is clipped to the room left); the excess is neither contributed nor penalised | $50,000 | ITA 204.9 (RESP lifetime limit), 204.91 (1% per month on the excess) | 2026-09-20 | 2026-09-20checked again when the law changes, and every two years |
| Education payments start in the year the student turns 18, when most Canadian students start college or university (grade 12 ends in June of that year); the Act sets no minimum age, only enrolment in a qualifying program, and the engine assesses an 18-year-old's return | 18 years | CRA RC4092 (EAP eligibility: enrolled in a qualifying or specified educational program; no minimum age) | 2026-10-16 | 2026-10-16checked again each year |
| Each RESP pays out in four September education payments, in the years the child turns 18, 19, 20 and 21 — a quarter, a third, a half, then all that is left. Each payment is that share of the contributions (a tax-free refund) and the same share of the grant, bond and growth (the EAP, the child's income); the last one empties and closes the account, so a plan may run past the 35-year wind-up. A child already past 18 when the plan starts is paid over the payment years left, or in full in the first September. The $8,000 cap on EAPs before 13 weeks of study (146.1(2)(g.1)) is not applied: the plan is yearly, and any EAP above $8,000 in the first year can be paid after the 13th week (from early December), in the same tax year, so the year's total is the same | See the source | ITA 146.1(1) "educational assistance payment" and "refund of payments", 146.1(7) (EAP in the student's income), 146.1(2)(g.1) (the $8,000 first-13-weeks cap) | 2026-10-13 | 2026-10-13checked again when the law changes, and every two years |
| An RESP beneficiary on the planner form is taken as resident in Canada and CESG-eligible in every plan year, with no Additional CESG and no Canada Learning Bond claimed, until the form can hold the income-tested facts | See the source | CESA s.5(4) (Additional CESG by adjusted income), s.6 (CLB); our convention | 2026-09-20 | 2026-09-20checked again when the law changes, and every two years |
| An RESP row on the planner form is the beneficiary's only plan; contributions and CESG to date come from the promoter statement; unused basic grant room is $500 for each year from 2007 the beneficiary was under 18 at year end, less CESG received; all contributions are taken as retained before age 16 with the four-year $100 test unmet; no EAP has been paid before the plan | See the source | ESDC, estimating CESG amounts (room accrues whether or not an RESP was open); CESA s.5(4)–(7); our convention | 2026-09-20 | 2026-09-20checked again when the law changes, and every two years |
| When the form does not say when an RESP was opened, the beneficiary's birth year is used — the earliest possible opening, and the strict reading of the 35-year termination limit | Our convention | ITA 146.1(2)(i); our convention | 2026-09-20 | 2026-09-20checked again when the law changes, and every two years |
| An RESP balance with no statement split is taken as entirely the subscriber's own contributions — no grant received, no growth — until the statement figures are entered; reported on the run | See the source | CRA RC4092 (contributions vs. EAP components); our convention | 2026-09-20 | 2026-09-20checked again when the law changes, and every two years |
| A withdrawal from an RESP on the planner form is an education withdrawal — contributions come out first, tax-free; only the remainder is an educational assistance payment, income of the student | Our convention | CES Regulations s.10 (EAP components; refund of payments is not an EAP); ITA 146.1(7); CRA RC4092 (the subscriber chooses the split); our convention | 2026-09-20 | 2026-09-20checked again when the law changes, and every two years |
| Projected CPP (January) and OAS/GIS (quarterly) indexation is applied once each January at the plan's tax indexation assumption; published quarter amounts are the base | See the source | Service Canada — OAS payment amounts (quarterly CPI review); CPP Act s.45 (annual) | 2026-09-18 | 2026-09-18checked again when the law changes, and every two years |
| Without a Service Canada statement figure, CPP at 65 is estimated as the published maximum × today's salary ÷ the YMPE, capped at the maximum — as if the person had earned today's salary, in today's dollars, for a whole career. Someone already past their retirement age at the start is taken as retired: their salary then, if any, is not the career one, so they are given the published average for new pensioners, or the salary estimate if that is higher; anyone younger with no salary is given none. Labelled an estimate; the statement figure replaces it | See the source | Service Canada — How much you could receive (the pension depends on contributions over the contributory period; your statement gives your figure) | 2026-09-25 | 2026-09-25checked again each year |
| Without a Service Canada statement figure, a salary-based CPP estimate counts pay in every month from the start of the contributory period to the retirement age (or the CPP start, if earlier); the months of the contributory period after retirement count as no pay, and the general drop-out removes the lowest months first. The drop-out is rounded down to whole months | See the source | Canada Pension Plan, ss.48(4) and 49; the start of a career is not asked, so the generous end is taken | 2026-10-31 | 2026-10-31checked again each year |
| CPP/OAS estimates start the month after the qualifying birthday when no start month is supplied; the adjustment factors count months from the month after the 65th birthday | See the source | Service Canada — When to start your CPP retirement pension (pension can begin the month after the 60th birthday) | 2026-09-18 | 2026-09-18checked again when the law changes, and every two years |
| While a GIS pensioner's spouse is 60–64 and not on OAS, the spouse-not-on-OAS table (ESDC Table 3) is used; the Allowance and its table (Table 4) are not modelled, so a couple that would qualify for the Allowance is shown less than it would receive | See the source | Old Age Security Act ss.12(6), 19 (the Allowance, ages 60–64) | 2026-09-25 | 2026-09-25checked again when the law changes, and every two years |
| The GIS paid before the plan has a year of its own to assess (to June of its second year) rests on the two calendar years before the start; their income is taken as today's salary plus any CPP already in pay, with the GIS employment exemption applied. Other income those years (RRSP withdrawals, interest, pensions) is not known and is left out | See the source | Old Age Security Act s.2 "income" and s.11 (the payment period July–June rests on the base calendar year) | 2026-09-25 | 2026-09-25checked again when the law changes, and every two years |
| OAS is estimated at the full pension — 40 years of residence in Canada after 18 — until the years are entered; fewer years give a partial pension (years ÷ 40), and under 10 none | 40 years | Service Canada — OAS eligibility (40 years after 18 for a full pension; partial pensions in 40ths) | 2026-09-25 | 2026-09-25checked again when the law changes, and every two years |
| An account's monthly contribution stops when its owner retires; money left over after retirement is still invested by the surplus rule | See the source | Our convention: a scheduled contribution is paid out of a salary | 2026-09-25 | 2026-09-25checked again each year |
| A person retires at 65 unless another age is given — employment income stops from the month after that birthday (1 January taken as the birthday until the date is entered). Someone already past it with a salary keeps working through the plan until an age is given | 65 years | Service Canada — When to start your CPP retirement pension (65 is the age with no adjustment; OAS also starts at 65) | 2026-09-25 | 2026-09-25checked again when the law changes, and every two years |
| Simulation's "sell or downsize" question runs the plan with the home it holds into retirement sold in December of the year the last person stops working, beside the plan keeping it. Selling, the household rents after at the plan's own rent. Downsizing, it buys a smaller home the next January, paid in full from the sale and savings with no mortgage, at a price entered in today's dollars and grown at the sold home's rate; its carrying costs are the sold home's rates | Our convention | Our convention; the sale itself follows CRA Income Tax Folio S1-F3-C2, Principal Residence | 2026-11-02 | 2026-11-02checked again each year |
| Retire early's "share of savings drawn" is, for the first full calendar year after the last person stops working, what left the investment accounts (an RESP aside) less what went into them, over their balances on 1 January. It describes the plan's own run; it is not a safe withdrawal rate. Whether the money lasts is the plan's full run, month by month, with its own taxes, pensions and returns | Our convention | Our convention; the measure is the first-year withdrawal rate of W. P. Bengen, "Determining Withdrawal Rates Using Historical Data", Journal of Financial Planning, October 1994 | 2026-11-02 | 2026-11-02checked again each year |
| Retire early's other ways to leave full-time work at an age before the planned one, each lasting to the planned stop. Part-time: pay becomes the part-time amount entered (a year, in today's dollars, each person; it grows like pay) and the accounts' monthly contributions carry on. Stop saving: full pay carries on, but the plan's contributions end, and money left over is not invested until the planned stop. In a couple both move by the same number of years, neither before next January | Our convention | Our convention (the engine's part-time and coast plan transforms); pay stays ordinary employment income, taxed and contributing to CPP as any pay | 2026-11-02 | 2026-11-02checked again each year |
| Unless the household takes only the minimums, an RRSP becomes a RRIF in January of the year its owner turns 65, or of the year they retire if later (the plan's first year for an owner already past it); an owner who still earns a salary at 71 converts at 71. Money paid into the RRSP after the RRIF opens moves over in December of the year they turn 71 | 65 years | Our convention; CRA — eligible pension income: at 65 or older, RRIF payments are eligible for the pension income amount and for splitting, an RRSP withdrawal is not | 2026-10-28 | 2026-10-28checked again when the law changes, and every two years |
| With "take only the minimums", or for an owner still earning at 71, an RRSP moves in full to a RRIF in December of the year its owner turns 71 — the latest the law allows — and pays the RRIF minimum from the next year; an owner already past 71 is taken to hold a RRIF opened before the plan | 71 years | CRA T4040 ch.5 (an RRSP matures by the end of the year you turn 71: withdraw it, buy an annuity or transfer it to a RRIF); ITA 146(2)(b.4) | 2026-09-25 | 2026-09-25checked again when the law changes, and every two years |
| From the year a RRIF opens early to the year its owner turns 71, each December it pays, above its minimum, what brings the owner's taxable income before pension splitting up to the top of the lowest federal tax bracket for that year; nothing in a year the owner receives the GIS. The payment is withheld as a lump sum, and the cash goes where leftover cash goes | Our convention | Our convention: the Calm Money Coach's decumulation planner, scenario "fill the low bracket"; CRA — federal tax rates and brackets | 2026-10-28 | 2026-10-28checked again when the law changes, and every two years |
| A RRIF pays its minimum in monthly payments: each month the minimum still unpaid at the start of the month, divided by the months left in the year, less anything already withdrawn that month, so December pays the rest. A month's withdrawal for spending carries that month's payment, and the payments are spent before anything else is sold | Our convention | Our convention; CRA T4040 ch.5: the minimum must be paid each year from the year after the RRIF is set up, and the holder chooses how often payments are made | 2026-10-20 | 2026-10-20checked again when the law changes, and every two years |
| Each December the RRSP deduction claimed is the least that gives the year's whole tax saving; premiums beyond it stay undeducted (still using room) and are offered again each later December, while they save tax. Income-tested benefits are not weighed in the choice | Our convention | ITA 146(5): premiums paid "in the year or within 60 days after the end of the year" and not deducted in a preceding year are deductible, up to the RRSP deduction limit; ITA 60(i) makes the deduction a choice ("may deduct") | 2026-10-12 | 2026-10-12checked again when the law changes, and every two years |
| An RRSP contribution in January or February may carry; that year is reassessed from its stored December inputs and the difference refunded with the following April settlement. March 1–2 contributions are outside the monthly grain | See the source | ITA 146(5)(a) ("on or before the day that is 60 days after the end of the year"), 146(5.1) | 2026-09-18 | 2026-09-18checked again when the law changes, and every two years |
| An RRSP deduction limit not given is taken as one year's addition — 18% of the current salary as last year's earned income, up to the dollar limit — until the notice-of-assessment figure is entered; reported on the run | See the source | ITA 146(1) "RRSP deduction limit"; our convention | 2026-09-20 | 2026-09-20checked again when the law changes, and every two years |
| When a year's registered limits omit the RRSP addition, the engine derives it from the prior year's earned income at the RRSP income rate — employment, net rental and self-employment income assessed in the plan, floored at nil — up to the RRSP dollar limit, less the prior year's pension adjustment (T4 box 52) when the plan gives it, floored at nil (the planner takes the figure entered to grow like the salary and scales the retirement year by the months worked); past-service adjustments (PSPA) and reversals (PAR) are not modelled; the dollar limit is verified for the current year and the next (published a year ahead) and projected after with average wages, as the statute indexes it: the plan's inflation plus the Chief Actuary's real wage growth for the CPP ceiling | Our convention | ITA 146(1) "RRSP deduction limit" (B: the lesser of the RRSP dollar limit and 18% of earned income for the preceding taxation year, less "the taxpayer's pension adjustment for the preceding taxation year in respect of an employer") and "earned income"; CRA, Reporting a pension adjustment (employers report it in box 52 of the T4; it reduces the next year's RRSP room); CRA "How contributions affect your RRSP deduction limit"; our convention | 2026-09-19 | 2026-09-19checked again when the law changes, and every two years |
| A sole proprietorship is monthly revenue and current expenses posted through household cash; the calendar-year net is business income on the return; no CCA, home office, GST/HST, instalments, fiscal periods or EI opt-in | See the source | ITA s.9(1) income from a business; s.3(d) losses; T2125 | 2026-09-18 | 2026-09-18checked again when the law changes, and every two years |
| The sensitivity chart moves one assumption at a time — investment returns, inflation, home prices and mortgage rates by 1 point each way, living costs and pay by 10% each way — reruns the whole plan both ways and ranks the assumptions by how far the end of the plan moves, in today's dollars. Inflation moves every rate the plan grows by (costs, brackets, pay, rent) and, with real returns held (nominal = real + inflation, so (1 + r) / (1 + inflation) is unchanged), the nominal return of every invested account and home prices; savings interest and mortgage rates stay, being nominal contracts. A separate row, Inflation with returns unchanged, moves the same rates but holds every return fixed, so higher inflation there means lower real returns. | Our convention | FP Canada / IQPF Projection Assumption Guidelines (sensitivity on return and inflation); our convention | 2026-10-01 | 2026-10-01checked again each year |
| The shelter comparison deploys the SAME pre-tax amount into each of TFSA, RRSP, FHSA (to the annual limit; the overflow is after-tax money growing tax-free) and a taxable account, holds it for the horizon at one return and liquidates; the RRSP refund is not reinvested; the taxable account pays out a 2% dividend yield taxed yearly at the exit rate as ordinary income (no dividend tax credit) and the gain on exit at the inclusion rate × the exit rate | See the source | CRA TFSA/RRSP/FHSA rules; the equal-pre-tax-cost framing is the standard textbook comparison (e.g. Kesselman & Poschmann, C.D. Howe 2001, "A New Option for Retirement Savings: Tax-Prepaid Savings Plans") | 2026-09-19 | 2026-09-19checked again each year |
| A simulated event is a dated change to the plan run through the ordinary simulation, like a stress test: a one-time amount is a cash event in its month; a pay change adds to (or takes from) the monthly pay in effect for its span and never gives pay back to a month without it (a gap, or after retirement); a pay stop is nil pay for its span; a spending change adds to living costs for its span; a market drop sets the return of every invested account (savings earn interest and are untouched) for its calendar years; a rate jump renews every mortgage in its month at the starting rate plus the jump, over the amortization left. Amounts are typed in today's dollars and follow the plan's indexation like the salary and living costs they change | Our convention | FP Canada / IQPF Projection Assumption Guidelines (projections run on the planner's chosen assumptions); our convention | 2026-09-30 | 2026-09-30checked again each year |
| A stress test is a pure transform of the plan run through the ordinary simulation and reported as shocked minus baseline, with no probabilities. The planner tests, one at a time, a higher mortgage rate at renewal, lost income, more suite vacancy, lower returns, higher living costs and slower home appreciation; the engine's return-sequence shock and early-retirement (FIRE) variants are not shown in the planner | Our convention | FP Canada / IQPF Projection Assumption Guidelines (sensitivity on return and inflation); Bengen (1994) for sequence-of-returns (engine only); our convention | 2026-09-19 | 2026-09-19checked again each year |
| The core assessment accepts year-end ages 18–110; outside that range the plan is rejected rather than approximated | See the source | engine boundary (no statute sets these bounds) | 2026-09-17 | 2026-09-17checked again each year |
| Each person's return is filed once a year, in December, on the whole calendar year. January to November the tax withheld so far (pay, pensions, registered withdrawals) is counted as the year's tax, so monthly net worth does not treat withholding as savings; tax on income with nothing withheld (rent, investment income, gains) appears in December. The year's tax, refund and balance owing are the same as assessing every month | Our convention | ITA 249(1): "a taxation year is … (c) in any other case, a calendar year" (an individual's taxation year, read 2026-10-22) | 2026-10-22 | 2026-10-22checked again when the law changes, and every two years |
| The child care expense deduction is claimed by the parent with the lower net income before it, as the Act requires unless that parent was a student, ill, in prison or separated; those weeks and Quebec's refundable credit are not modelled | Our convention | ITA 63(2): the higher-income supporting person deducts only for the weeks the lower-income person was a student, ill, in prison or separated | 2026-11-02 | 2026-11-02checked again when the law changes, and every two years |
| A single parent (a plan with no partner) claims the amount for an eligible dependant for one child: the youngest born by the plan's first year and under 18 on its 1 January, so the claim lasts as many years as it can; a child born later in the plan is not claimed; every child is taken as living with the parent full time and no support is paid for them | Our convention | Our convention; ITA 118(1)(b) and 118(4)(a) (one claim for one person); CRA line 30400: "You did not have a spouse or common-law partner"; the child "under 18 years of age" while you supported and lived with them | 2026-10-28 | 2026-10-28checked again when the law changes, and every two years |
| Income tax not withheld at source (business, rental, investment income) is settled in one April payment; ITA 156 quarterly instalments and instalment interest are not modelled | Our convention | ITA 156 (instalments required when net tax owing exceeds $3,000 in the year and one of the two preceding years); our convention | 2026-09-18 | 2026-09-19checked again when the law changes, and every two years |
| In a territory every adult in the plan lives there all year; a person alone claims both $11 amounts, and in a couple the spouse with the higher net income claims the home's $11 | Our convention | Our convention under ITA s.110.7(1)(b)(ii)(B) ("except any day included in computing a deduction claimed under this paragraph by another person who resided on that day in the establishment"): one claim of the home amount a household, given to the higher-income spouse (ties: the earlier plan person), the same side as the spouse amount | 2026-10-04 | 2026-10-04checked again when the law changes, and every two years |
| A couple splits eligible pension income every year (a T1032 election each year) by default: the spouse with the higher net income before splitting moves the amount that makes the two net incomes equal, up to half of their eligible pension income (the workplace pension at any age, RRIF income from 65); either spouse may be the one who moves it, year by year. Not a search for the lowest tax; reported on the run | Our convention | Our convention, under ITA 60.03 (CRA — Pension income splitting: up to 50% of eligible pension income, one joint election a year) | 2026-10-28 | 2026-10-28checked again when the law changes, and every two years |
| A pension split chosen in the planner moves half of the person's eligible pension income to the partner every year they are a couple (a T1032 election each year): the workplace pension at any age, and RRIF income from 65. The best share, which can differ from year to year, is not searched | Our convention | Our convention under ITA 60.03 (CRA — Pension income splitting) | 2026-10-13 | 2026-10-13checked again when the law changes, and every two years |
| In projected years every tax threshold follows the plan's indexation rate — including Ontario's statutory bracket edges, which the Taxation Act 2007 does not index — because a projection under "law as written" becomes undefined once an indexed edge overtakes a fixed one (about 19 years at 2%). Set to hold them nominal instead | Our convention | FP Canada / IQPF Projection Assumption Guidelines 2026 (inflation 2.1%, no separate rule for unindexed thresholds); planning software indexes every bracket the same way, e.g. Snap Projections help, "Taxable Income and Taxes Payable" (help.snapprojections.com/article/32-taxable-income): "The Provincial and Federal Tax brackets and applicable tax credits and deductions are indexed to inflation" under the assumption "that the current Canadian tax system is not going to change drastically" (read 2026-09-19) | 2026-09-19 | 2026-09-19checked again when the law changes, and every two years |
| In a couple, the spouse with the higher net income claims the spouse or common-law partner amount, federally and provincially, against the other's net income (ties: the earlier person in the plan) | Our convention | Our convention under ITA 118(1)(a), which lets a person supporting a spouse claim and does not say which spouse that is; the higher earner is the one whose claim the lower income leaves room for | 2026-09-06 | 2026-10-13checked again when the law changes, and every two years |
| Each year claims the student-loan interest of that year and the carried years, oldest first, up to what the federal tax absorbs; the rest is carried for the years the law allows and then lost. The provincial (and Quebec) credit is on the same amount claimed, so Quebec's longer carry-forward is not used. A debt entered as a student loan is a government student loan of its borrower | Our convention | ITA 118.62 (interest paid in the year or the five preceding years, not deducted before); CRA line 31900 (carry forward, oldest first) | 2026-11-02 | 2026-11-02checked again each year |
| TFSA room not given is taken as every verified annual limit from the later of 2009 and the year the holder turned 18, with nothing ever contributed — the most room anyone of that age can have — until the CRA My Account figure is entered; reported on the run | See the source | CRA — TFSA contribution room accrues from 2009 or age 18, resident; our convention | 2026-09-20 | 2026-09-20checked again each year |
| By default on Pro plans (a free plan runs without it), with leftover cash put to work, each January each person's non-registered savings fill the TFSA room they have left after that month's leftover cash: whole units sold at market, the gain taxed that year, the proceeds contributed to their own TFSA; a holding standing at a loss is left where it is; reported on the run | Our convention | Our convention; CRA RC4466: room is the year's dollar limit plus unused room plus last year's withdrawals, income earned in a TFSA is not taxable, and property moved in kind is disposed of at fair market value with any loss denied | 2026-10-28 | 2026-10-28checked again when the law changes, and every two years |