10 Things Every Canadian Taxpayer Must Do in January 2026: Expert Tips from Tax Eagles

As the calendar flips to January 2026, many of us are focused on resolutions regarding health or career. However, at Tax Eagles, we know that financial health—specifically getting a head start on your taxes—is the best way to ensure a stress-free year.

Significant tax changes are hitting Canadians this month. While national experts like Jamie Golombek in the Financial Post have flagged these updates, we at Tax Eagles want to break down exactly what they mean for our local clients in Pickering and Toronto.

1. Register for CRA 'My Account' (Urgent: New Digital Notice Rule)

This is the most critical technical change for 2026. As highlighted by recent tax updates, as of January 10, 2026, the Canada Revenue Agency (CRA) is shifting to fully digital notices for the vast majority of taxpayers. This means the CRA will no longer mail paper Notices of Assessment or benefit notices by default.

If you are not registered for CRA 'My Account' with a valid email address, you risk missing critical alerts, deadlines, or audit requests. Missing a digital notice can lead to unnecessary fines or interest. If you find technology daunting, come see us at Tax Eagles—we can help guide you through the setup to ensure you stay connected.

2. Maximize Your 2026 TFSA Contribution

For 2026, the Tax-Free Savings Account (TFSA) contribution limit has been set at $7,000. If you have been eligible since the program's inception in 2009 and haven't contributed yet, your cumulative lifetime limit could be as high as $109,000.

We always recommend contributing early in January. By investing that $7,000 at the start of the year rather than the end, you gain an extra 12 months of tax-free growth. It is one of the simplest ways to build wealth without increasing your tax burden.

3. Contribute to Your RRSP Before the Deadline

While we are currently in 2026, you still have time to affect your 2025 tax return. You have until early March 2026 to contribute to your Registered Retirement Savings Plan (RRSP) for the 2025 tax year.

An RRSP contribution is a powerful tool: it saves for your future while directly lowering your taxable income for the previous year. For many of our clients in Durham Region, a strategic RRSP top-up is the difference between owing money and receiving a significant refund.

4. Organize Your 2025 Receipts Now

Nothing causes more tax anxiety than "shoebox accounting"—digging through a shoebox of faded receipts on April 29th. To experience the Tax Eagles "Zero Stress" promise, start gathering your documentation now.

Key receipts to locate include:

* Medical expenses (prescriptions, dental, vision)

* Childcare costs

* Charitable donation receipts

* Union or professional dues

Bringing these to us early allows us to categorize them properly and ensure every valid dollar is claimed.

5. Understand the New 2026 Tax Brackets & Rates

Inflation continues to impact the tax landscape. For 2026, federal tax brackets have been indexed upwards by roughly 2%. Furthermore, the lowest federal tax rate has been reduced to 14% (down from previous years).

What does this mean for you? You can earn more money before bumping into a higher tax bracket. Understanding these shifts helps us plan your withholding tax or installment payments effectively so you keep more of your hard-earned money.

6. Pay Your Quarterly Installments (If Applicable)

If you are a self-employed professional, a freelancer, or have significant investment income, you may be required to pay tax by installments.

Check your CRA account or consult with us to see if you have a payment due in late December or March. Ignoring these installments results in steep installment interest charges. Let's keep that money in your pocket, not the CRA's.

7. Review Family Benefit Eligibility

A major shift for the 2026 tax year is the expansion of "Automatic Tax Filing" initiatives aimed at lower-income earners and families. This ensures that you don't miss out on vital payments like the Canada Child Benefit (CCB) or the GST/HST credit.

However, automation relies on accurate data. In January, verify that the CRA has your correct marital status and number of dependents on file. If your family situation changed in 2025 (marriage, divorce, birth of a child), update it immediately to avoid benefit interruptions.

8. Check Your Work-From-Home Deduction Eligibility

For the 2025 tax filing, the rules regarding home office expenses remain specific. The simplified "flat rate" method that was popular during the pandemic has largely been phased out in favor of the detailed method.

If you worked from home in 2025, ensure you have a signed T2200 form from your employer. Without this form, we cannot claim your home office expenses (utilities, internet, etc.). Secure this document now before HR departments get overwhelmed in April.

9. Rebalance Your Investment Portfolio

Echoing advice from Jamie Golombek in the Financial Post, January is the ideal time to review your non-registered investment portfolios. If the market rallied in 2025, your asset allocation might be skewed.

Rebalancing now ensures your risk profile stays consistent. However, be mindful that selling assets in a non-registered account triggers capital gains or losses. At Tax Eagles, we can work with your financial advisor to calculate the tax implications of rebalancing before you click "sell."

10. Book Your Tax Appointment Early with Tax Eagles

The ultimate way to ensure a stress-free tax season? Don't wait until the deadline.

By booking your appointment with Tax Eagles in January or February, you beat the rush, allow ample time to track down missing slips, and often receive your refund sooner. We provide premium care to individuals and businesses across Toronto and Pickering, ensuring you are compliant with all the new 2026 rules.

Ready to maximize your refund with zero stress? Contact Tax Eagles today to schedule your consultation. Let’s make 2026 your most financially successful year yet.